UPDATE: Rare Element Reports 65% Increase of Rare-Earth Mineral Resources at Bear Lodge; Shares Up 6% Late Morning

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Rare Element Resources Ltd. (RES.TO) today announced a 65% increase to its total Measured and Indicated (M&I) rare earth elements ( REE ) resources estimate at the Bear Lodge Project, from 571 to 944 million pounds of rare earth oxide (REO). The updated NI 43-101 compliant resource estimate includes the first Indicated resource at the HREE- enriched Whitetail Ridge deposit and high grades of Critical Rare Earth Oxides (CREOs) in all deposits.

Highlights:

- Total high-grade M&I oxide mineral resources of 14.7 million tons grading 3.22% REO at 1.5% cutoff grade

- Includes a high-grade core M&I resources of 6 million tons grading 4.72% REO at 3% cutoff grade that could support an initial higher-grade, lower production scenario and transition into full plant capacity and lower initial capital cost

- Includes high-grade Indicated ( I ) oxide mineral resource at the HREE-enriched Whitetail Ridge deposit of 2.25 million tons grading 2.61% REO at 1.5% cutoff grade.

Shares are up 14 cents (5.91%) to $2.51 late morning. Volume traded is nearly 16,000.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: I , REE

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