13th Oct 2014 06:59
LONDON (Alliance News) - Rare Earth Minerals PLC Monday said it has discovered rare earth elements in Southern Greenland near Narsarsuaq, after it got the results from samples taken during a recent exploration programme.
In a statement, it said it had the results from 16 samples had exceeded its expectations, with five of 16 samples exceeding 7,000 parts per million Total Rare Earth Oxides and a further two exceeding 2,000 parts per million Total Rare Earth Oxides. The highest value was 18,179 parts per million.
The results also included three significant neodymium oxide assays which contained 2,928 parts per million of neodymium oxide.
"These assay results are orders of magnitude higher than those previously reported and are indeed higher than the reported resource grades on the nearby Tanbreez deposit. In addition some of these samples contain significant quantities of neodymium oxide, which is a critical rare earth oxide as defined by the US department of energy," Chief Executive Kiran Morzaria said in a statement.
By Steve McGrath; [email protected]; @stevemcgrath1
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