www.rareelementresources.com
Rare Element Resources has 100% interest in two exciting opportunities on its Bear Lodge Property in Wyoming – rare earths and gold. Rare earths are the primary target being explored and evaluated by the Company. The Bear Lodge alkaline-igneous complex hosts one of the largest disseminated (low-grade) rare-earth element (REE) deposits in North America (USGS Professional Paper 1049D). The Company is focused on exploring high-grade rare-earth zones within this system, which are naturally enriched in some of the most widely used and more valuable REEs. In addition, extensive gold mineralization that surrounds the rare-earth core area is being explored with goals to estimate gold resources and to discover a larger gold system.
Rare Element adds two more to its board
Rare Element Resources (TSE:RES) said Monday that Randall J. Scott and Paul H. Zink were appointed to the board of directors.
Zink, president and chief executive, is a mining industry professional and brings more than 30 years of experience in finance and extractive industries.
Currently, he is a director at Atna Resources and is president at Eurasian Capital a wholly-owned unit of Eurasian Minerals.
Zink’s expertise ranges from mineral royalties, project financing, and financial analysis to business development and strategic planning.
Prior to joining Eurasian Minerals, he served as president of International Royalty Corp. until the sale of IRC to Royal Gold a year ago.
In addition, the company also announced Monday that Mark T. Brown stepped down from the board to devote more time to his other activities with Pacific Opportunity Capital.
However, Brown was appointed to the company's advisory board and will remain a major stakeholder of Rare Element.
Rare Element's chairman, Donald Ranta, said: "We are pleased that the company is moving forward with these new appointments.
"We are certain that Randy and Paul can broaden the board's experience level and help ensure the continued success of the company as we move from a junior explorer toward a rare-earth production company."
In December, the company received drill results that could potentially expand resources at the Bull Hill and Whitetail Ridge targets, part of its wholly owned Bear Lodge rare earth project.
At Bull Hill, the company drilled three holes to test the eastern and southeastern limits of the deposit. Hole RES11-09 intersected 2.64 percent total rare earth oxides (TREO) over 71.5 feet.
In addition to testing these same limits, Rare Element said its four drill holes completed on the Bull Hill West target were also intended to expand the resource to the west, across the drainage in the area.
Hole RES11-39 intersected 2.77 percent TREO over 172 feet, 3.89 percent TREO over 29.5 feet, 2.31 percent TREO over 68 feet, and 3.71 percent TREO over 72 feet. It also hit 32.5 feet grading 2.99 percent TREO, and 64.5 feet grading 3.71 percent TREO.
Rare Element Resources is engaged in the acquisition, exploration and development of mineral properties. The company’s flagship property is the Bear Lodge Property located in northeastern Wyoming.
Shares fell 6.09 percent declining to $7.25 each today in Toronto.
