Rare Element Resources Ltd. (RES.TO) today announced a 65%
increase to its total Measured and Indicated (M&I) rare earth
) 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.
- 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 (
) oxide mineral resource at the HREE-enriched Whitetail Ridge
deposit of 2.25 million tons grading 2.61% REO at 1.5% cutoff
Shares are up 14 cents (5.91%) to $2.51 late morning. Volume
traded is nearly 16,000.
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