Quantum Commences 2010 Exploration Program at the Archie Lake Property
July 06 2010 - 9:00AM
Marketwired
Quantum Rare Earth Developments Corp. (TSX VENTURE: QRE)(PINK
SHEETS: QREDF)(FRANKFURT: BR3) ("Quantum", the "Company") is
pleased to announce plans for the 2010 exploration program at the
Archie Lake Rare Earth Property.
The Archie Lake project, located in northern Saskatchewan,
contains rare earth element (REE) mineralization within a
meta-sedimentary horizon thought to be of paleo-placer origin. The
mineralized horizon approaches 6 metres in width and has been
traced historically for approximately 600 metres along strike via
prospecting and trenching.
During early October 2009, a total of 36 rock samples were
collected from six historic trenches and a small blast pit on the
property. Samples were sent to Acme Analytical of Vancouver, BC.
(Acme) for whole rock and trace element analysis with rare earths
determined using ICP-MS.
The 2009 exploration confirmed mineralization in all trench and
pit locations with one chip sample returning a peak value of 29.9%
TREE (total lanthanides and yttrium) (Semi-Quantitative Analysis).
A total of five samples exceeded Acme's detection limits for one to
four of the lanthanides (Ce, La, Nd, and Pr). Of all 36 samples
analyzed, a total of 18 samples exceed 2% TREE, six exceed 5% TREE
with three exceeding 10% TREE. The sample with peak value is
comprised of nearly 60% monazite representing a highly mineralized
pod within the overall zone.
The maximum value of 29.9% TREE reported by Acme was reanalyzed
by AGAT Laboratories Ltd. as 21.1% TREE, and 29.2% TREE by the
Saskatchewan Research Council (SRC). All other check samples were
within acceptable limits. (For full details please refer to NR Dec
1, 2009).
The positive 2009 exploration results from the Archie Lake
Property will be followed-up aggressively during the 2010 field
season. The 2010 field program will consist of three phases of
exploration with a total budget of $1.1 million.
Phase I will involve a high resolution airborne magnetic and
radiometric survey, focusing on tracing the mineralized horizon and
outlining other potential areas of interest. The survey is
scheduled for completion in early July, with results and
interpretation to follow immediately thereafter, providing guidance
for Phase II of exploration.
Phase II is scheduled to begin early August and will involve
detailed mapping of the known REE mineralized horizon as well as
comprehensive prospecting of the entire claim in order to delineate
any additional mineralized occurrences. Mapping will focus on
identifying the full extent of the mineralized horizon
(historically mapped over approximately 600 metres in length) and
will consist of detailed geologic and radiometric mapping of
outcrop exposures.
The final phase, Phase III, will involve diamond drilling of NQ
size (47.6 mm diametre) core beginning early September, 2010.
Approximately 1000 metres (10-15 holes) of drilling will be
completed with the depth of each hole expected to be no more than
100 metres. Drill hole locations will test mineralization at depth
along strike of the mineralized horizon.
Samples collected throughout Phase II and Phase III of
exploration will be sent to the SRC Geoanalytical Laboratories for
whole rock, trace, and rare earth element analysis.
Darren L. Smith, P.Geol. is the qualified person responsible for
the Archie Lake Project and has read and approved the technical
disclosure contained in this news release.
"We are very pleased to start our 2010 exploration program at
Archie Lake. Following the excellent results obtained in surface
sampling last fall, we are extremely encouraged and looking forward
to drilling this property for the first time," according to Company
President and CEO, Peter Dickie.
On Behalf of the Board,
Peter Dickie, President
"Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
Contacts: Quantum Rare Earth Developments Corp. Peter Dickie
President and CEO (604) 669-9330 (604) 669-9335 (FAX)
Niocorp Developments Ltd. (TSXV:QRE)
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