NI43-101Pre-Feasibility Study Report - page 52

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
, 2014
10135-200-46 – Rev. 0
Rare earth element (REE) mineralization occurs in the north
central core of the Bear
Lodge dome, which consists of multiple intrusions of phonolite, trachyte, and other
alkaline igneous rocks, and a variety of associated breccias and diatremes. REE
mineralization of the Bear Lodge district is hosted by carbonatite and carbonatite-
related intrusive bodies that are similar to other REE
bearing carbonatites scattered
around the world. The REE minerals within the mineralized bodies are dominantly
REE fluorocarbonates, with subordinate, and generally minor, monazite and
cerianite. Ancylite may be an important REE mineral component in the partially
oxidized OxCa ore type. The Mountain Pass deposit in California is the largest REE
bearing carbonatite in North America, and it was one of the world’s two principal
sources of REE metals for many years.
1.3 Exploration
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 Company’s exploration
activities at the Bear Lodge Project are summarized in Chapter 9. Currently,
exploration activities in target areas peripheral to the Bull Hill-Whitetail pit are limited
to surface exploration, including detailed geological mapping and
geochemical/geophysical surveys to better define target concepts. An updated
grade-thickness model by ORE incorporates drilling results for the Bear Lodge REE
project through 2013.
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