Rare Element Resources Logo

OTCQB: REEMF    |     

Press Releases

Rare Element Reports 2012 Drilling and Exploration Program Underway

by User Not Found | Jun 26, 2012

Lakewood, Colorado---Rare Element Resources Ltd. (NYSE: REE and TSX: RES) is pleased to announce that the 2012 drilling and exploration program has commenced at the Bear Lodge rare earth element (REE) project in Wyoming.

Drilling
Three core drill rigs and one reverse circulation drill rig are currently at Bear Lodge. The goals of the drilling program this year include:

  • A development program to expand and enhance the current reserve and resource base at the Bull Hill deposit with infill and step-out drilling.

  • Infill and step-out drilling at the growing Whitetail Ridge deposit designed to expand the current resource and upgrade a portion of that resource to the measured and indicated categories. The Whitetail Ridge deposit is enriched in the more critical and more valuable heavy rare earth elements (HREEs) relative to the Bull Hill deposit, as described in a press release dated May 7, 2012.

  • Exploration drilling to establish inferred resources at the Carbon and East Taylor REE target areas, both of which exhibit significant HREE-enrichment (see press release dated May 7, 2012).

  • Condemnation drilling on the Physical Upgrade plant (PUG) site and on state Section 16, the proposed stockpile/waste facility site.

Approximately 15,000 meters of drilling are budgeted for this year's program. In addition to the drilling program, the exploration activities will include geological mapping, soil and rock chip geochemical surveys, and bulk sampling with large-diameter core for metallurgical testing purposes.

Metallurgy
Metallurgical test-work of bulk sample material from the Whitetail Ridge, Carbon and East Taylor areas is currently underway at Mountain States R&D International (MSRDI) in Vail, Arizona, under the direction of Dr. Roshan Bhappu. The test-work is focused on determining the best process to recover the REEs from these ores, which are significantly enriched in HREEs compared to the Bull Hill deposit material. Based on the results from this test-work and results from exploration drilling at Whitetail Ridge, Carbon and East Taylor, the Company will decide during the last quarter of 2012 on whether to integrate development of one or more of the HREE-enriched areas into the Definitive Feasibility Study (DFS) and permitting timeline for the Bear Lodge project. The current work plan for 2012 now includes accelerated tasks based on the possibility of expanded HREE resources. An affirmative decision to include significant zones of enhanced HREE abundance in the DFS would provide substantial upside to the project and bring additional shareholder value. The decision to investigate the HREE potential at this point in time will assist in keeping the project schedule as close as possible to the 2016 production ramp-up goal.

Randall Scott, President and CEO stated, "We are excited to have this year's exploration and drilling program started. We believe that by expanding our drilling program into the Whitetail Ridge, Carbon and East Taylor deposit areas, we will provide additional benefits for Rare Element to increase its heavy rare earth element profile. We are dedicated to the advancement of the Bear Lodge project and maximizing the value for shareholders."

Markets for Rare Earths
REEs are key components of the green energy technologies and other high-technology applications. Some of the major applications include hybrid automobiles, plug-in electric automobiles, advanced wind turbines, computer hard drives, compact fluorescent light bulbs, metal alloys in steel, additives in ceramics and glass, petroleum cracking catalysts, and many others. China currently produces more than 96% of the 124,000 tonnes of rare-earths consumed worldwide annually, and China has been reducing its exports of rare earths each year. The rare-earth market is projected to grow rapidly as these green technologies are implemented on a broad scale. Rare earths are critical and enabling metals for the green technologies.

Rare Element Resources Ltd. (NYSE Amex: REE and TSX: RES) is a publicly traded mineral resource company focused on exploration and development of rare-earth elements and gold. In addition to the REE exploration and evaluation efforts, the Company controls the Sundance gold project, which is located on the same property in Wyoming.

ON BEHALF OF THE BOARD
Anne Hite, Director of Investor Relations

For information, refer to the Company's website at www.rareelementresources.com
or contact Anne Hite, 720-278-2466

Forward Looking Statements

Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including "will", "believes", "may", "expects", "should", "seeks", "anticipates", "has potential to", or "intends' or by discussions of strategy or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company's business model; future operations, products and services; the impact of regulatory initiatives on the Company's operations; the size of and opportunities related to the market for the Company's products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance.

Forward-looking statements used in this discussion are subject to various risks and uncertainties, most of which are difficult to predict and generally beyond the control of the Company. If risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. Forward-looking statements in this document are not a prediction of future events or circumstances, and those future events or circumstances may not occur. Given these uncertainties, users of the information included herein, including investors and prospective investors are cautioned not to place undue reliance on such forward-looking statements.


Figure 1 Location Map of the Bull Hill, Whitetail Ridge, Taylor and Carbon REE areas.
Figure 1 Location Map of the Bull Hill, Whitetail Ridge, Taylor and Carbon REE areas.

Leave a comment

Rare Element Resources
Fact Sheet

Rare Element Resources
Technology Fact Sheet

Most Recent Presentation
The MoneyShow Orlando

October 30, 2023

Money Show Orlando - October 2023

Technical Report Summary on Bear Lodge REE Project

Updated Mineral Resource for Bear Lodge Focused on Key Magnet Materials


Picture3


Open House – October 09, 2023

State and community leaders joined Senator Barrasso, Neal Blue and Brent Berg with the ceremonial groundbreaking shovel

Ceremonial groundbreaking with Senator Barrasso, state and community leaders, Neal Blue (GA) and Brent Berg (RER) 

The Company and General Atomics (GA), supported by state and community leaders, celebrated a ceremonial groundbreaking for their rare earth demonstration plant.

The presentation at the Open House made by Mr. Berg can be found here.

For a summary of the event, please click here.

Please click here to see a video replay from the Newcastle News Letter Journal of the event.

CEO Corner

Commentary from Kelli Kast,
Interim President, CEO and Director

Continuing Our Progress

As I step into the role of Interim President and Chief Executive Officer (“CEO”) for the coming weeks, I do so with confidence that we will seamlessly continue on the path the Board has set for us of progressing construction of the demonstration plant toward operations this summer, and in continuing to build awareness of the Company, the Bear Lodge Project, and the importance of establishing a secure domestic rare earth supply chain.

Please click here to read full content

Please click here to see appointed President and CEO Ken Mushinski's bio

Demo Plant Construction Update (2/20/24)

Utility Upgrades

Utilities Being Upgraded

Services to the site are being upgraded, including power, water and sewer, to support future plant operations.  Mild weather has allowed us to progress this and other outdoor work.

World-Class Technology Partner

General Atomics Fact Sheet
In 2017, an affiliate of General Atomics, one of the largest, most advanced technology companies in the world, took an equity position in Rare Element Resources.  Since that time, they have brought the full force of their technology development team enhance the Company's recovery/separation technology.
To learn more about General Atomics Click Here

Bear Lodge Panoramic
Sample Drilling
Core Samples

The Bear Lodge Project area is a significant mineralized district that contains one of the largest disseminated rare earth deposits in North America. This deposit contains many of the less common, more valuable rare earths that are essential for the magnet materials used in electronics, fiber optics, laser systems for health and defense, and many evolving green technologies, such as hybrid cars, solar panels and wind turbines. Rare Element Resources owns 100% of the Project. 

During the last few years, the Company, along General Atomics, whose affiliate is RER's majority shareholder, have been advancing their proprietary extraction/separation technology and have successfully produced commercial-grade neodymium/praseodymium (Nd/Pr) oxide in pilot-plant testing.  These materials are key components to the fast-growing, permanent magnet sector. The next step will be operations of a demonstration plant, which is currently under construction in Upton, WY.  Results generated from operating this plant will be used for the design and economic evaluation of a commercial rare earth processing facility. 

Project Highlights

  • Proprietary Rare Earth Extraction/Separation Technology – Successfully advanced the Company’s technology and produced neodymium/praseodymium (Nd/Pr) oxide in pilot-plant testing. Construction of a demonstration plant is currently underway to prove the scalability of the process and define the requirements for a commercial plant.
  • World-Class Technology Partner and Majority Shareholder – General Atomics, through its affiliate, is the majority shareholder in Rare Element Resources, is a technology leader with a proven track record of bringing new ideas to market.  Their understanding of the strategic role rare earths play in numerous advancing technologies makes them keenly aware of the need for a secure, domestic supply of rare earths. Their relationship within the U.S. Government have been essential to our ability to advance our technology.
  • Bear Lodge Project – Well-defined resource with excellent concentrations of the rare earth elements essential to high-strength, permanent magnets and the many industries that depend on them.  Two of those industries, electric vehicles and wind turbines, are expected to drive a doubling of demand for magnet materials in the next 10 years.
  • Strategic Location – Located in northeast Wyoming, the Bear Lodge Project has easy access to a major interstate, transcontinental rail, natural gas and low-power.  The area has existing infrastructure with a ready and skilled workforce.  The State of Wyoming has a rich history of mineral development and a pro-business focus, and its leaders are actively committed to economic diversification. 
  • Strong Federal and State Support – Both the Department of Energy (DOE) and the Wyoming Energy Authority (WEA) have shown their support for the Project through funding of over $26M for the demonstration plant.  The DOE continues to pursue ways to secure sources for material that will be key to industrial needs, especially those that support the country’s initiative of reducing carbon emissions, like electric vehicles and wind turbines. The WEA is supporting the State’s desire to diversify employment and understands that Wyoming can play a key role in developing a domestic supply chain – from minerals to magnets. 
123movies