NI43-101Pre-Feasibility Study Report - page 139

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
, 2014
10135-200-46 – Rev. 0
9 Exploration
9.1 Introduction
This section discusses the results of exploration for rare earth elements (REE)
conducted on the Bear Lodge property through 2013.
The Bear Lodge mining district has been explored for rare earths, precious metals,
and base metals by a number of major mining companies over the past 40 years.
These various exploration campaigns identified a number of rare earth occurrences
that the Company believes warrant further exploration and evaluation. Initial
exploration for copper has not progressed past early tests by Duval, but their
activities led serendipitously to further exploration for gold and rare earths, both of
which have the potential to become substantial resources. Historical exploration
activities are largely documented in Chapter 6.0 – History. The Bear Lodge Project
comprises RER exploration activities targeting REE. Past exploration activity for gold
by Newmont and Rare Element was conducted under the auspices of the Sundance
Gold project.
9.2 Bear Lodge Project Exploration Target Areas
Rare Element’s Bear Lodge Project REE exploration activities are focused on three
carbonatite-related rare earth resource areas, the Bull Hill, Bull Hill NW, and Whitetail
Ridge deposits, and two recently identified exploration target areas, Carbon and
Taylor (Chapter 8.0). Several previous exploration target areas were incorporated into
the Bull Hill deposit (previously referred to as Bull Hill SW), including Bull Hill West,
Bull Hill Southwest Extension, and the Carbonatite Plug (or deep Bull Hill West).
Geological characteristics of the REE deposits and new targets are reviewed in
Chapter 8.0, and locations are provided in Figure 8.1. The exploration areas are
described briefly below and summarized in Table 9.1, The Company’s exploration
activities at the Bear Lodge Project are summarized in Table 9.2. An updated grade-
thickness model by ORE that incorporates drilling results for the Bear Lodge REE
project through 2013 is shown in Figure 9.1
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