NI43-101Pre-Feasibility Study Report - page 571

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 PFS Technical Report
October 9
, 2014
10135-200-46 - Rev. 0
for specific strategic baskets is $55,000. After the baskets are known, the cost of
bench scale tests to develop a process for individual separation of individual
elements is approximately $30,000.
26.5.2 Ammonium Nitrate and Calcium Chloride Market Study
A market study should be undertaken to identify potential consumers of
ammonium nitrate and calcium chloride. The PFS has assumed that these by-
products have no value. A market study would determine a value and the
optimal form for sale. The cost for this market study is estimated at $25,000.
26.5.3 Gold Recovery
Bench scale testing of a process for the recovery of gold should be completed to
evaluate the recovery efficiency and process design parameters of a gold
recovery unit. The low concentration of gold in solution may however, impact
recovery to determine if it is economic. It is estimated that a study to develop a
gold recovery process is expected to cost $10,000.
26.5.4 Uranium and Thorium Byproduct
A high-level market and permitting requirements study on the sale of
radionuclides should be performed to evaluate the profitability of selling a thorium
or uranium precipitate. In the PFS, the thorium precipitate is transported as a
waste to a licensed disposal facility. A study of the beneficiation of manganese
and valuable metal products is expected to cost $65,000 and would include an
investigation of uranium and throium.
26.5.5 Manganese/Zinc/Lead Byproduct
A market study and bench scale testing of a potential manganese/zinc/lead by-
product recovery process should be performed to evaluate the profitability of the
installation of a manganese/zinc/lead recovery unit. The cost to study these
potential byproducts is included in the study cost mentioned in Section 26.5.4.
26.6 Tailings Storage Facility
Some additional work will be required to complete the final design of the TSF.
The Company has received a budgetary quotation from an engineering company
to complete these studies for $420,000.
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