9th Mar 2015 09:29
LONDON (Alliance News) - Rare Earth Minerals PLC on Monday said it has been informed by its joint venture partner on the Yangibana rare earth elements project in Australia that a number of potential ironstone targets have been identified at the site.
Hastings Rare Metals Ltd said that following further review and interpretation of airborne HyMap hyperspectral data over the Yangibana project, a number of possible ironstone targets have been identified.
"These newly identified ironstone targets, show excellent potential for resource expansion to the already substantial REE's already identified and contained within our joint venture lands. We look forward to updates on the exploration of these targets and the ongoing pre-feasibility currently being carried out on Yangibana," said Rare Earth Chairman David Lenigas.
Shares in Rare Earth were trading down 1.5% at 0.887 pence on Monday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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