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Rare Element Identifies High-Potential Whitetail Ridge Rare-Earth
Target
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Rare Element Resources Ltd. (TSX-V: RES) (the "Company") is pleased to
announce the identification of an additional rare-earth-element (REE)
target area approximately 1500 feet northwest of the Bull Hill
Southwest deposit at the Bear Lodge project, Wyoming. The Company
designates this area as the Whitetail Ridge rare-earths exploration
target, and it is being prepared for possible drilling later this fall,
weather permitting. The new target is located adjacent to and west of
the Bull Hill Northwest target. It was recognized from a combination
of: 1) detailed geological mapping of FMR (FeOx-MnOx-REE) vein material
by our gold exploration partner, Newmont North American Exploration
Ltd.; 2) a positive ground geophysical anomaly of a type coincident
with significant REE mineralization in other parts of the project area;
and 3) a review of nearby historic drill holes that intersected strong
REE mineralization in FMR dikes and veins. The size of the geophysical
anomaly (approximately 1400 by 2000 feet elongate northeasterly)
provides an indication that this REE target may be larger than others
in the district. Historic drill hole WP-1, drilled by Hecla Mining
Company in 1987, intersected 430 feet of strong REE mineralization in a
near-surface intercept from 0 to 430 feet that averages 2.44% REO.
Within the larger intercept were several 10-foot intercepts with grades
ranging from 5.5 to 13.7% REO.
The Whitetail Ridge FMR mineralized zone may be the continuation of the
Bull Hill Southwest deposit dike system, which trends northwesterly and
is truncated, and possibly offset, by the West Bull Hill fault.
Alternatively, it may be a separate rare-earth system with emplacement
controlled by an east-northeast structural trend that is similar to one
dominant in nearby Carbon Hill and along a graben-bounding fault that
corresponds to the Whitelaw Creek drainage. This ENE structural trend
may have had an influence on the emplacement of high-grade REE
mineralization in FMR and carbonatite dikes and veins in Hecla
drill-hole WP-2 in the Bull Hill Northwest target. More detailed field
examination of the area is warranted, with the objective of determining
significant structural trends that may guide drilling in the 2009 and
2010 drilling programs. Using an Exploranium spectrometer, ground
geophysical surveys were undertaken over the Bull Hill Southwest
FMR/carbonatite dike swarm for comparison with the Whitetail Ridge
area. Both areas produced pronounced positive anomalies. The results of
the Whitetail Ridge survey show an anomaly that trends about N40E, as
well as two, more diffuse northwesterly trending positive anomalies.
These data are consistent with the possibility that REE-mineralized
carbonatite dikes were emplaced along a northeasterly trend that may be
somewhat oblique to the ENE structural trend mapped in the general area
and in trenches south of Carbon Hill.
To view Figure 1, click on the following link:
http://www.rareelementresources.com/i/maps/NR-Oct-13-2009.jpg
Historic drilling in the greater Whitetail Ridge area includes Duval
Corporation drill holes WBR-4 and WBD-12, MolyCorp drill holes BL-1 and
BL-3, and Hecla Mining Company drill hole WP-1. Drill holes WBD-12,
BL-1, and BL-3 were all collared near the margins of the main Whitetail
Ridge target area, whereas drill holes WP-1 and WBR-4 were collared in
the central part of the area. Assay data are incomplete for some of
these holes, but available REE assay and drill log data show that the
area contains significant REE mineralization (Table 1).
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Table 1. Historic data from drill holes in the Whitetail Ridge area
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Company Drill Hole Data related to potential REE mineralization
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Duval WBR-4 0-200' @ 1.29% REO; highest intercept 5' @ 7.82%
REO
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Duval WBD-12 600-620', 20' @ 4.61% REO; 1380-1420', 40' @ 4.82% REO
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MolyCorp BL-1 70-121', 51'@ 5.76% REO
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MolyCorp BL-3 340-370', 30' @ 6.41% REO
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Hecla WP-1 Entire hole (0-726') averages 1.86% REO; 0-430' @ 2.44%
REO, includes 290-320' @ 5.28% REO and 401-411' @
13.70% REO
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The limited data suggest that the Whitetail Ridge area carries
significant potential for FMR and carbonatite REE mineralization.
However, results from the previous drilling indicate that the
structural situation may be complex, and that more field work will be
completed quickly in order to select drill sites this fall and to
orient the drill holes properly for definition of the mineralized zone.
Rare Element Resources Ltd (TSX-V:RES) is a publicly traded
mineral-resource company focused on rare-earth elements and gold. In
addition to the REE exploration and evaluation efforts, the Company and
Newmont have entered into the Sundance gold exploration joint venture
on the Company's Wyoming property. Newmont has the right to earn a 65%
working interest in Rare Element Resources' property, excluding any
rights to the rare-earth elements and uranium but including rights to
gold and other metals, by performing US$5 million in property work
expenditures over a five-year period. Newmont also has the right to
earn an additional 15% working interest by completing a positive
project feasibility study. Gold exploration drilling began in July for
the 2009 program, and rare earth drilling began in August.
ON BEHALF OF THE BOARD
Donald E. Ranta, PhD, PGeo, President & CEO
For information, refer to the Company's website at
www.rareelementresources.com or contact:
Mark T Brown, CFO, (604) 687-3520 ext 242
mtbrown@pacificopportunity.com.
Donald E Ranta, (604) 687-3520 don@rareelementresources.com
Donald E. Ranta, PhD, PGeo, serves the Board of Directors of the
Company as an internal, technically Qualified Person. Technical
information in this news release has been reviewed by Dr. Ranta and has
been prepared in accordance with Canadian regulatory requirements that
are set out in National Instrument 43-101. This news release was
prepared by Company management, who take full responsibility for
content. 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.
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Copyright (c) 2009 RARE ELEMENT RESOURCES LTD. (RES.V) All rights
reserved. For more information visit our website at
http://www.rareelementresources.com/ or send
mailto:info@rareelementresources.com
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