HUDSON DRILLS 310M of 1.0% TREO INCLUDING 94M OF 1.8% TREO AT THE SARFARTOQ RARE EARTH PROJECT IN GREENLAND
Vancouver, BC - HUDSON RESOURCES INC. (�Hudson� or the �Company� � TSX Venture Exchange �HUD�) is pleased to announce assay results for the remaining 11 holes of the Phase 1 drill program at the Sarfartoq Rare Earth Element (REE) project in Greenland. Drilling at the ST1 zone from Phase 1 of 2010 drill program continues to intercept wide zones of high-grade rare earth mineralization. Phase 2 drilling is planned to commence August 17th and is expected to include approximately 2,000m of drilling on existing and new targets.
ST1 Zone highlights to date are as follows:
- SAR10-13: 310m of 1.0% TREO � including 94m of 1.8% TREO
- SAR10-15: 133m of 1.0% TREO � including 25m of 1.6% TREO
- SAR10-16: 116m of 1.4% TREO � including 28m of 2.5% TREO
- SAR10-17: 110m of 1.5% TREO � including 68m of 2.1% TREO
- SAR10-08: 346m of 1.0% TREO � including 150m of 1.7% TREO (reported June 29, 2010)
- SAR09-04: 126m of 1.0% TREO � including 52m of 2.1% TREO (reported Nov. 4, 2009)
- SAR09-05: 103m of 0.9% TREO � including 30m of 1.4% TREO (reported Nov. 4, 2009)
|
- High distribution of neodymium, averaging 20% of TREO in drill intercepts at ST1
- Significant niobium intersections (up to 0.56% Nb2O5) at margins of the REE mineralized zones
| James Tuer, Hudson�s President, stated, �These drill results continue to demonstrate the high-grade and tonnage potential of the ST1 Zone at the Sarfartoq REE project. Given our success to date we have engaged a resource professional to develop a resource model for ST1 and to plan additional drill holes for this zone. The second phase drill program will start August 17th and will be geared towards further delineation of the ST1 zone and testing of new targets identified during the recently completed reconnaissance program along the 32 km outer ring structure of the Sarfartoq Carbonatite Complex. The presence of niobium mineralization marginal to rare earth mineralization is intriguing and may add value to our ongoing exploration efforts at Sarfartoq�.
Hudson is encouraged by the significant upside movement in rare earth prices over the past six months. In June, China announced sharply lower rare earth oxide export quotas for the second half of 2010 and also initiated the �cleanup� of its rare earth mining and processing industry which may take REEs out of the supply chain. Light rare earth oxides such as cerium, lanthanum and samarium have more than tripled since June, and neodymium oxide has more than doubled from $20/kg to $49/kg in less than 12 months (source:www.metal-pages.com). Light rare earths represent 85% of annual rare earth demand by weight. Demand for REEs is expected to grow at 10% per year (D. Kingsnorth IMCOA 2010).
Drill hole results for SAR10-09 through SAR10-17 from the ST1 Zone are as follows:
| Drill Hole |
Length |
| From |
To |
Intersection |
TREO%1. |
Nb2O52. |
|
| (m) |
| (m) |
(m) |
(m) |
| |
|
| SAR10-09 |
250.1 |
|
20.5 |
28.5 |
8 |
1.24% |
|
| |
|
|
53.5 |
58.5 |
5 |
1.26% |
|
| |
|
|
115 |
119 |
4 |
1.94% |
|
| |
|
|
122.5 |
125.5 |
3 |
1.85% |
|
|
| SAR10-10 |
332 |
|
25 |
155 |
130 |
0.54% |
0.10% |
| |
|
incl. |
106 |
119 |
13 |
1.68% |
|
| |
|
incl. |
108 |
113 |
5 |
2.56% |
|
| |
|
|
179 |
183 |
4 |
1.97% |
|
| |
|
|
208 |
211 |
3 |
1.72% |
|
| |
|
|
291 |
296 |
5 |
1.13% |
|
|
| SAR10-11 |
204.4 |
|
83 |
88 |
5 |
2.30% |
|
|
| SAR10-12 |
155.6 |
|
86 |
95 |
9 |
2.02% |
|
| |
|
incl. |
86 |
88 |
2 |
|
0.38% |
| |
|
incl. |
88 |
93 |
5 |
3.35% |
|
| |
|
incl. |
93 |
95 |
2 |
|
0.25% |
|
| SAR10-13 |
384 |
|
75 |
384.5 |
309.5 |
1.02% |
|
| |
|
incl. |
75 |
109 |
34 |
2.16% |
|
| |
|
incl. |
83 |
99 |
16 |
2.70% |
|
| |
|
incl. |
109 |
123 |
14 |
0.33% |
0.51% |
| |
|
incl. |
135 |
157.5 |
22.5 |
0.36% |
0.17% |
| |
|
incl. |
157.5 |
251 |
93.5 |
1.75% |
|
| |
|
incl. |
251 |
273 |
22 |
0.37% |
0.15% |
|
| SAR10-14 |
155.1 |
|
71 |
100 |
28.53. |
1.26% |
|
| |
|
|
93 |
100 |
7 |
0.67% |
0.50% |
|
| SAR10-15 |
322 |
|
111 |
245 |
133.04. |
1.00% |
|
| |
|
incl. |
111 |
137 |
25 |
1.59% |
|
| |
|
incl. |
137 |
147 |
10 |
0.65% |
0.17% |
| |
|
incl. |
211 |
221.5 |
10.5 |
1.88% |
|
| |
|
incl. |
221.5 |
237 |
15.5 |
0.57% |
0.15% |
| |
|
incl. |
237 |
239 |
2 |
1.66% |
|
| |
|
incl. |
239 |
245 |
6 |
0.68% |
0.15% |
|
| SAR10-16 |
347.7 |
|
218 |
334 |
116 |
1.35% |
|
| |
|
incl. |
218 |
228 |
10 |
1.53% |
|
| |
|
incl. |
230 |
238 |
8 |
0.94% |
0.43% |
| |
|
incl. |
238 |
244 |
6 |
2.05% |
|
| |
|
incl. |
244 |
276 |
32 |
0.70% |
0.21% |
| |
|
incl. |
288 |
334 |
46 |
1.94% |
|
| |
|
incl. |
304 |
332 |
28 |
2.53% |
|
| |
|
incl. |
332 |
334 |
2 |
1.07% |
0.47% |
|
| SAR10-17 |
305 |
|
128 |
238 |
110 |
1.48% |
|
| |
|
incl. |
142 |
170 |
28 |
0.46% |
0.15% |
| |
|
incl. |
170 |
238 |
68 |
2.10% |
|
| |
|
incl. |
212 |
236 |
24 |
2.77% |
|
PREVIOUSLY REPORTED HOLES
|
| SAR10-08 |
346 |
|
29 |
375 |
346 |
0.99% |
|
| (June 29/10) |
|
incl. |
207 |
357 |
150 |
1.66% |
|
| |
|
|
181 |
209 |
28 |
|
0.11% |
| |
|
incl. |
207 |
229 |
22 |
1.99% |
|
| |
|
incl. |
285 |
311 |
26 |
2.42% |
|
| |
|
incl. |
321 |
333 |
12 |
2.53% |
|
|
| SAR09-04 |
131.2 |
|
5 |
131.15 |
126.2 |
0.99% |
|
| (Nov. 4/09) |
|
incl. |
61.4 |
113.6 |
52.3 |
2.11% |
|
| |
|
incl. |
82.1 |
90.4 |
8.3 |
0.47% |
0.56% |
| |
|
incl. |
90.4 |
109.6 |
19.2 |
3.22% |
|
| |
|
incl. |
109.6 |
113.6 |
4 |
0.37% |
0.21% |
|
| SAR09-05 |
149.5 |
|
25.75 |
128.6 |
102.9 |
0.86% |
|
| (Nov. 4/09) |
|
incl. |
25.75 |
55.65 |
29.9 |
1.38% |
|
| |
|
|
97.5 |
130.2 |
32.7 |
1.29% |
0.15% |
|
| SAR09-06 |
137.3 |
|
61.4 |
122.5 |
61.1 |
1.01% |
|
| (Nov. 4/09) |
|
|
122.5 |
128.5 |
6 |
0.58% |
0.19% |
|
| SAR09-07 |
155.6 |
|
86.5 |
87.2 |
0.7 |
2.43% |
|
| (Nov.4/09) |
|
|
134.8 |
136.5 |
1.7 |
3.10% |
|
| Note: |
1. All elements reported by ALS Chemex in parts per million (ppm). Total Rare Earth Oxides (TREO) refers to the elements lanthanum through lutetium plus yttrium expressed as oxides in the form REE2O3. |
| |
2. Only significant intersections above 0.1% (1 kg/t) reported |
| |
3. No assay sample collected for 0.5m starting at 75.5m |
| |
4. No assay collected for 1.0m at 116.5.5m |
The final hole, SAR10-19, was drilled at the ST40 zone. While no significant zones of REE mineralization were intercepted, the results continue to demonstrate that the area hosts significantly elevated neodymium with respect to total rare earths. Additional drilling is required to better define larger zones of higher grade mineralization as it is a complex system. Hole SAR10-18, which tested a magnetic high, was drilled between the ST1 and ST40 locations (separated by 3.5 km) and failed to intersect any significant zones of mineralization. Hudson plans to conduct further testing in this area.
Complete results can be downloaded in an Excel spreadsheet from the Company�s website at www.hudsonresources.ca. A sample list for each intersection collected is included. In most cases, only intersections that had obvious alteration and/or carbonatite REE veining were collected for assay. A preliminary model from the ST1 location that shows the lithology of drill holes superimposed with all TREO analyses available to date can also be downloaded from the website. Available drilling data does not yet allow an estimation of the dimensions of this REE-bearing carbonatite bodies and, as such, no estimation of true thickness from the drill holes has been made by the Company.
Metallurgical testwork will commence in the last quarter of 2010. Limited mineralogical work to date on 20 samples suggests that the rare earths are present in carbonatite as the REE-fluorocarbonate minerals bastnasite-(Ce), synchysite-(Ce), synchysite-(Nd) and minor monazite-(Ce). Bastnasite is the principal ore mineral at the Mountain Pass REE Mine in California.
Drill holes SAR10-09 to SAR10-19 were logged and sampled in the field and split core was shipped to Vancouver for processing at ALS Chemex. A strict QA/QC program was followed which includes the use of elemental standards, duplicates and blanks. In cases where the entire hole has not been sampled, only significant drill intersections of carbonate mineralization were sampled. Core was split in the field with half of the core being sent to ALS Chemex and the remaining half left on-site for future reference. All samples are analyzed using lithium borate fusion, acid dissolution and ICP-MS analysis (ALS method ME-MS81h). According to ALS Chemex, this procedure solubilizes most minerals, including refractory species, and provides the most quantitative analysis for many elements, including the rare earth elements.
The Sarfartoq rare earth project is located within 10 km of tidewater and only 60 km from Greenland�s international airport. The project is owned 100% by Hudson. The Company is well-financed with current working capital of approximately $4.25 million and sufficient funds to cover all exploration and G&A obligations into 2011.
Dr. Peter Le Couteur is a qualified person as defined by National Instrument 43-101 and reviewed the preparation of the scientific and technical information in this press release in respect of the drilling from the Sarfartoq REE Project.
BY ORDER OF THE BOARD OF DIRECTORS
"James Tuer"
James Tuer, President
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Hudson and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Hudson to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Hudson disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION:
HUDSON RESOURCES INC:
James Tuer, Chief Executive Officer
Phone: (604) 628-5002 or (604) 688-3415
email: tuer@hudsonresources.ca
Please visit our website at www.hudsonresources.ca
To forward this Press release to someone else this link |