NI43-101Pre-Feasibility Study Report - page 73

Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
, 2014
10135-200-46 – Rev. 0
data as supplied by Rare Element. ORE relied on the supplied information and has
no reason to believe that any material facts were withheld, or that a more detailed
analysis may reveal additional material information. ORE did not undertake a
program of independent sampling, drilling, or assaying.
The identification of mineralized subsurface rare earth intercepts is based on Rare
Element’s drilling from 2008 through 2013. The Company’s drilling conducted from
2004 through 2007 was not used for any resource or reserve estimation, owing to
its lack of precise collar and downhole survey data. In outlying parts of the district
some historic drill hole data from Hecla and, to a lesser degree, from Duval
Corporation and Molycorp, provide subsurface mineralization intercepts that are
considered exploration targets for follow-up by the Company. The pre-2004 drilling
was done prior to the inception of NI 43-101 standards and regulations. While the
drill hole data were generated by experienced exploration companies that used
contractors and laboratories recognized to have high standards at the time none of
these data are used directly in the RER resource estimate. Where other supporting
documentation was cited in this report, a reference for each source of information
is found within Chapter 27 – References. The authors have borrowed freely from
all sources cited, and specific citation is used only where necessary to emphasize
a point.
With respect to the above-mentioned exploration reports, the authors cannot verify
the professional qualifications of those involved in the preparation of such.
However, the general thoroughness of each company’s exploration program, and
the relative consistency of comparative assay values from company report to
company report, and including those from the USGS, indicate an apparent quality
of work that is acceptable for the purpose of this report.
3.3 Land and Property Data
The land status information in Chapter 4 – Property Description and Location was
provided by Rare Element. This information was reviewed by Jaye Pickarts, P.E.
Chief Operating Officer, and Jerome Bensing, consulting landman, and appears to
be reliable, based on the documents examined. In addition, the disclosure of
information relating to land, legal, title, and related issues relies on the following
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