BE Resources Provides Update on Rare Earth Elements at Warm Springs Project in New Mexico, USA
April 26 2011 - 9:29AM
Marketwired Canada
BE Resources Inc. (TSX VENTURE:BER) ("BE" or the "Company") releases data on
rare earth elements (REE) identified at its Warm Springs beryllium project in
New Mexico. Drill assay results have indicated the presence of anomalous amounts
of several heavy rare earth elements, particularly Europium, Gadolinium, Thulium
and Lutetium.
"Our progress to date at Warm Springs has shown that the beryllium
mineralization is in line with that identified by the US Geological Service from
their exploration in the 1960s," said David Tognoni, President and CEO. "We did
not anticipate however the heavy rare earth elements indicated in our recent
drilling. We are pleased to find a potential complement to the beryllium and
intend to determine if there is a commercially viable deposit. Given the very
large potential tonnage of prospective volcanic rock containing the anomalous
rare earth values, it could have a positive impact on the potential economics of
this prospect."
The Company commenced a 12 hole drilling program at Warm Springs in February of
this year of which the first seven holes have been completed and assayed. As
shown in the table below, Europium was present in amounts as high as six parts
per million (ppm), Gadolinium as high as 33 ppm, Thulium as high as seven ppm
and Lutetium as high as 11 ppm. Assay results also indicated Yttrium present at
amounts as high as 462 ppm. One part per million is equivalent to one gram per
tonne.
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High Value/Average parts per million over five foot sample intervals
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Drillhole number Beryllium
and interval in Barium Oxide Cerium Cobalt
feet Ba BeO Ce Co
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DH10 82-185 1055/370 6672/1366 162.5/95 142.5/27
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DH11 120-270 3990/1201 158/37 134.5/94 31.3/4.4
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DH12 160-260 1325/720 96/42 236/128 42.9/4
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DH14 170-345 2510/804 55.3/21 378/122 49.5/4.8
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DH15 120-183 1400/810 83/15.6 223/108 6.5/2.1
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DH16 50-175 1655/837 48/17 186/105 9.6/1.5
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DH17 5-185 7540/1130 85/22 188/114 36/6
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Erbium Europium Gallium Gadolinium
Er Eu Ga Gd
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DH10 82-185 30.2/11 2.85/1.4 30.7/24 18.15/12
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DH11 120-270 20.9/4.7 3.37/2 28.8/20 16-Jul
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DH12 160-260 55.9/14 5.6/2 38.2/13 23.4/10.6
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DH14 170-345 39.5/12.1 6.39/1.9 38.4/24.3 33.4/10.3
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DH15 120-183 21.3/6 2.57/1.4 30/22 11.65/5.6
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DH16 50-175 28.7/7 4.88/2 30.5/22 15.35/9
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DH17 5-185 37.9/8 4.77/1.9 34/22.5 19.1/9
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Lutetium Molybdenum Niobium Neodymium
Lu Mo Nb Nd
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DH10 82-185 6.17/2 14-Aug 206/73 53.7/40
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DH11 120-270 4.25/.8 56/8 144.5/18.5 73.5/42
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DH12 160-260 10.85/2.8 36/15 488/100 80.7/49
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DH14 170-345 8.69/2.4 31/9 360/85 81.4/48
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DH15 120-183 4.61/1.2 13/5.7 165/38.7 81.2/41.6
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DH16 50-175 6.57/1.3 51/9.4 259/45 113.5/48
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DH17 5-185 8.58/1.6 151/21 328/52 125/52
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Tin Strontium Tantalum Terbium
Sn Sr Ta Tb
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DH10 82-185 20-Jul 1335/425 17.2/5 5.01/2.3
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DH11 120-270 13-Feb 1365/504 11.2/1.5 3.45/1.2
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DH12 160-260 39/9 863/423 28.4/7 4.29/2
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DH14 170-345 32/9 777/467 24.2/6 6.18/1.9
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DH15 120-183 16-May 717/487 12.3/3.1 2.8/1
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DH16 50-175 27-Jun 930/538 17.5/3 3.84/1.4
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DH17 5-185 32/6 852/499 24.4/4 4.41/1.6
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Uranium Vanadium Tungsten Yttrium
U V W Y
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DH10 82-185 50.9/20 100/36.8 8/4.3 257/106
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DH11 120-270 24.3/7 125/79 18-Jul 190.5/46
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DH12 160-260 90.2/21.6 97/65 12/7. 462/118
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DH14 170-345 90.4/21 97/64 9./5. 381/115
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DH15 120-183 30.6/8.2 112/83 71/15 193.5/58.5
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DH16 50-175 69.8/12.8 147/91 196/15 193/65
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DH17 5-185 58/14.8 147/73 13-May 370/80
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Drillhole number
and interval in Chromium Cesium Dysprosium
feet Cr Cs Dy
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DH10 82-185 30-May 19.6/11 33.8/15
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DH11 120-270 10/1.0 36.5/5 23.6/7
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DH12 160-260 0/0 41.8/6 52.4/16
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DH14 170-345 0/0 20/3.6 38.2/14.3
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DH15 120-183 120/9 6.8/2.3 22.9/7.3
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DH16 50-175 0/0 6.43/2 29/8.7
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DH17 5-185 0/0 16.15/4.9 36.1/10.5
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Hafnium Holmium Lanthanum
Hf Ho La
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DH10 82-185 68.3/24 8.54/3.4 84.7/46
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DH11 120-270 45.9/9 5.94/1.6 68.1/47
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DH12 160-260 136.5/32 14.05/3.8 118.5/64
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DH14 170-345 105.5/28 10/3.3 114/58.5
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DH15 120-183 49.6/15 5.86/1.8 74.2/51.6
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DH16 50-175 80.2/16 7.6/2 99.2/51
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DH17 5-185 103/19 9.59/2.4 97.1/55
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Praseodymium Rubidium Samarium
Pr Rb Sm
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DH10 82-185 16.2/11.5 796/418 15.2/10.6
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DH11 120-270 15.45/11.4 575/146 13.7/8.8
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DH12 160-260 18.9/13.5 558/172 21.6/12
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DH14 170-345 19.65/12 446/122 26.6/10.5
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DH15 120-183 18.5/11.6 150.5/61 16.35/7.7
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DH16 50-175 20.7/12.6 177/95 27.3/10
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DH17 5-185 31/13.8 286/182 34.1/10.6
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Thorium Thallium Thulium
Th Tl Tm
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DH10 82-185 197.5/61 3.9/2.3 5.25/1.9
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DH11 120-270 124.5/18 2.7/.2 3.63/.7
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DH12 160-260 380/80 23.1/1.9 10.35/2.4
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DH14 170-345 407/75 18.9/2 7.11/2
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DH15 120-183 125/35.4 3.1/0.2 3.86/1
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DH16 50-175 234/39 3.4/.6 5.36/1
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DH17 5-185 284/49 5.5/1.6 6.94/1.4
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Ytterbium Zirconium
Yb Zr
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DH10 82-185 38.9/13.4 1900/717
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DH11 120-270 26.4/5 1300/360
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DH12 160-260 74.3/17 3240/855
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DH14 170-345 55/15 2920/808
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DH15 120-183 28.4/9.3 1310/470
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DH16 50-175 40.7/8.7 2100/500
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DH17 5-185 53.1/10 2680/552
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"Going forward, we will follow a two-prong strategy for BE Resources," added Mr.
Tognoni. "We will continue to explore the beryllium mineralization on our
properties through continued drilling, including drilling deeper, and also
define and evaluate the levels of rare earth elements present in our assays."
ALS Minerals Qualifications and QA/QC
The Company has selected ALS Minerals (ALS) to perform sample preparation (in
Reno Nevada) and assay work (in Vancouver, British Columbia). ALS maintains ISO
9001:2008 and ISO/IEC 17025:2005 certifications, provides all internal quality
control data, and maintains a library of detailed laboratory analytical methods
required as the necessary documentation for NI 43-101 Technical Reporting. The
ALS Quality Management System (QMS) complies with the requirements of
International Standards ISO 9001:2008. ALS has implemented the following quality
assurance/quality control (QA/QC) procedures for the Warm Springs exploration
project sample handling and management, and laboratory procedure and test
methods are implemented.
All samples received at ALS undergo the following sample preparation in
accordance with ALS Sample Preparation Package - PREP-31 Standard Sample
Preparation. Sample preparation is the most critical step in the entire
laboratory operation. The purpose of preparation is to produce a homogeneous
analytical subsample that is fully representative of the material submitted to
the laboratory. The sample is logged in the tracking system, weighed, dried and
finely crushed to better than 70 percent passing a 2 mm (Tyler 9 mesh, US Std.
No.10) screen. A split of up to 250 g is taken and pulverized to better than 85
percent passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen.
At ALS, Geochemical Procedure - ME-ICP61a, Evaluation of High Grade Materials
Using Conventional ICP - AES Analysis Sample Decomposition was implemented for
all of the Company's samples undergoing analysis: The sample is digested in a
mixture of nitric, perchloric and hydrofluoric acids. Perchloric acid is added
to assist oxidation of the sample and to reduce the possibility of mechanical
loss of sample as the solution is evaporated to moist salts. Elements are
determined by inductively coupled plasma - atomic emission spectroscopy (ICP -
AES).
A summary of the geology is reported in the Company's 2009 NI 43-101 compliant
technical report titled "Technical Report on the Warm Springs Beryllium
Property, Socorro County, New Mexico USA" dated June 5, 2009 and filed on SEDAR
at www.sedar.com on July 2, 2009.
Qualified Person
David Tognoni, PE, President and CEO of the Company, is the Qualified Person (as
defined under National Instrument 43-101) for the project and is responsible for
verification of the data and the contents of this news release.
Conceptual geologic model developed
The Company has created graphics of conceptual models of the Company's targets
at Warm Springs and Iron Mountain that are posted to its website at
www.beresources.com.
About BE Resources Inc., Beryllium and Rare Earth Elements
BE Resources Inc. is a junior mineral exploration company focused on advancing
the exploration and development of its Warm Springs Beryllium and Rare Earth
project in New Mexico. BE Resources' initial target is beryllium, a metal that
has significant lightness, strength and temperature resistance qualities that
make it a valuable component in the aerospace and defence industries. For
information, please see the Company's website at www.beresources.com.
Beryllium is commonly used in alloys, accounting for an estimated 75 percent of
US consumption. In the US, ceramics (15 percent) incorporating beryllium oxides,
also known as beryllia, are the next most important form of beryllium followed
by metal (10 percent). Electronic and electrical components, aerospace and
defence applications account for around 80 percent of US consumption, according
to industry analyst Roskill Mineral Services.
Beryllium prices are usually determined on a negotiated basis between producers
and end-users with small quantities of highly pure metal (greater than 99
percent pure) traded on the Shanghai Metals Market. Recent prices posted for
beryllium were between 5,500 - 6,000 RMB/Kg, the equivalent of about US$135 to
US$147 per pound of beryllium oxide, or US$374 to US$408 per pound of beryllium.
Rare earth elements have unique electrical, chemical and physical properties and
are used throughout industry - common applications include rechargeable
batteries and high power magnets. Similar to beryllium, there is not a commodity
market to set standard prices for rare earth elements. As an illustration, the
table below, from the website www.mineralprices.com lists prices rare earth
elements.
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Price US$/kg Price Change since Dec.
Metal type and purity as of Apr. 8, 2011 31, 2010
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Lanthanum metal greater
than or equal to 99% 210 0.0%
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Lanthanum Oxide greater
than or equal to 99.5% 95 75.9%
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Cerium metal greater than
or equal to 99% 215 0.0%
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Cerium Oxide greater than
or equal to 99.5% 108 103.8%
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Praseodymium metal greater
than or equal to 99% 418 0.0%
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Praseodymium Oxide greater
than or equal to 99.5% 170 70.0%
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Neodymium metal greater
than or equal to 99.5% 185 42.3%
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Neodymium Oxide greater
than or equal to 99.5% 185 146.7%
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Samarium metal greater
than or equal to 99.9% 110 25.0%
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Europium Oxide greater
than or equal to 99.5% 2,500 0.0%
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Gadolinium metal 99.9% 435 0.0%
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Gadolinium Oxide greater
than or equal to 99.5% 150 68.5%
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Terbium metal greater than
or equal to 99.9% 3,400 9.7%
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Terbium Oxide greater than
or equal to 99.5% 2,500 0.0%
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Dysprosium metal greater
than or equal to 99% 700 0.0%
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Dysprosium Oxide greater
than or equal to 99.5% 450 12.5%
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Erbium metal greater than
or equal to 99.9% 305 38.6%
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Erbium Oxide greater than
or equal to 99.5% 195 56.0%
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Yttrium metal greater than
or equal to 99.9% 170 41.7%
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Yttrium Oxide greater than
or equal to 99.99% 170 107.3%
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Scandium metal 99.9% 15,000 0.0%
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Scandium Oxide greater
than or equal to 99.95% 6,500 25.0%
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Mischmetal greater than or
equal to 99% 95 50.8%
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Source: HEFA Rare Earth Canada Co. Ltd. via http://www.mineralprices.com/
Cautionary Statements
Certain statements contained in this news release may contain forward-looking
information within the meaning of United States and Canadian securities laws.
Such forward-looking information is identified by words such as "estimates,"
"intends," "plans," "expects," "believes," "may," and "will." There is no
assurance that we will ever be able to define a Beryllium or REE resource. We
are at an early stage of exploration. Reference is made to the risk factors
contained in the Company's annual report on Form 10-K for the year ended
December 31, 2010. Most of these factors are outside the control of the Company.
Investors are cautioned not to put undue reliance on forward-looking
information. Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new information,
future events or otherwise.
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