Bear Lodge Project
The Bear Lodge Project is positioned to be the next North American source of rare earth minerals. The quantity and quality of the resource at Bear Lodge make it a world-class mining district and a dependable, long-term source for the rare earths the world demands.
The project is rich in “critical rare earths” (CREE), those elements that are less common, higher valued and expected to experience better demand growth and price support over the long term. It is situated in one of the best mining districts in the world. The mine site is ideally located in northeastern Wyoming, just off of I-90, and has easy access to power and supporting infrastructure. The processing facility will be located nearby, in the town of Upton, in an establish industrial area. Both communities contain a ready workforce, skilled in natural resource development.
Recent project highlights include:
- In 2013, the Measured and Indicated resource was increased by 65%. This expanded resource supports an anticipated mine life in excess of 40 years. Please use this link to see the most recent NI 43-101 Technical Report.
- A high-grade core was identified at the Bull Hill deposit within the expanded resource. The high-grade zone contains about 4.9 million tons, grading 4.84% total rare earth oxide (TREO) using a 3.0% TREO cutoff grade. Early development of the high-grade zone is projected to enhance economics by bringing cash flows forward and shortening the payoff period. Please use this link to see most recent NI 43-101 Technical Report.
- Project is ideally located in Wyoming, which is recognized by Canada’s Fraser Institute as one of the world’s top five mining jurisdictions.
- Bear Lodge is surrounded by excellent infrastructure in the form of developed federal, state and county roads, nearby low-cost power, and rail service at the planned hydrometallurgical site in Upton, WY.
- During pilot plant testing, conducted by SGS-Lakfield Canada, the Company’s proprietary process technology selectively separated rare earths from base metals and other impurities in solution and upgraded them to produce a 97% pure total rare earth oxide bulk concentrate. Additional work identified a process to isolate Thorium for which a US provisional patent has been received.
- As the first step in the National Environmental Policy Act (NEPA) process and preparation of the Environmental Impact Statement selection of a third party contractor and Forest Service appointed Project Manager is underway.
- Optimization studies and work supporting the feasibility study are underway
Summary of Measured and Indicated Resource (Total Rare Earth Oxide) @ 1.5% Cutoff Grade
| ||Tons |
|Grade TREO |
|Contained TREO lbs |
|Contained TREO Kg |
|Measured ||1.94 ||3.93 ||153 ||69.5 |
|Indicated ||12.71 ||3.11 ||791 ||359.5 |
|Total ||14.65 ||3.22 ||944 ||429.0 |
Please see most recent NI 43-101 Technical Report for additional detail.
Rare Element Resources Ltd (NYSE MKT: REE and TSX: RES) is a publicly traded company having 100% interest in the Bear Lodge property.