Search Minerals Provides Update on REE Properties in Labrador

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Search Minerals Inc. (SMY.V) and its wholly-owned subsidiary, Alterra Resources Inc., provided a property and exploration update for their REE properties in Labrador.

A new Preliminary Economic Assessment is due in Q1 2013 to evaluate open pit - underground scenario for the Foxtrot REE Deposit. Focus will be on the FT-3 high grade mineralized zone.

Search is planning an exploration program for the 2013 field season to map and sample Foxtrot-like mineralization throughout the Fox Harbour volcanic belt and to identify targets for a small exploration drilling program.

Search has fulfilled its obligations under the option agreement with B & A Minerals required to transfer 100% ownership of 11 Licenses (757 claims) from B & A Minerals to Alterra.

Second year obligations for the Quinlan Option Agreement have been fulfilled; and Quest Rare Minerals has fulfilled the requirements of its earn-in agreement with Alterra to form a 50%/50% Joint Venture on Alterra's Strange Lake Property.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

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