Seymour Ventures Announces Launch of 2011 Exploration Program on the Mount Bisson and Xeno Rare Earth Properties
June 02 2011 - 7:30AM
Marketwired
Seymour Ventures' (TSX VENTURE: SEY)(FRANKFURT: 3CK1)(WKN: A1C08G)
wholly owned subsidiary Rare Earth Industries Ltd. (REI) is pleased
to announce that it has commenced the exploration work program on
the Mt. Bisson and Xeno rare earth properties, located in the
Omineca Mining Division, approximately 50 kilometers NW of
Mackenzie in central BC. REI has the right to earn a 60% interest
in the properties from Paget Minerals by spending $1,050,000 over
three years to develop the property, including $350,000 in 2011.
The initial discovery of rare earth element mineralization on
the Mount Bisson property was made by Halleran in 1986 with total
rare earth element (TREE) contents as high as 13.5 wt.% in grab
samples from the Laura occurrence. Recent exploration conducted on
the property by Paget Minerals, from 2007-2010, has confirmed the
historical exploration, revealing the widespread dissemination of
various rare earth bearing minerals including allanite, titanite,
apatite and rare-earth element-bearing epidote.
The lithochemical sampling programs of Paget Minerals, which
amassed more than 100 grab samples, resulted in discovery of high
grade REE mineralization at a new occurrence where 8.64 wt.% TREE
was documented in a August 25, 2010 news-release of Paget:
http://www.pagetminerals.com/s/NewsReleases.asp?ReportID=415854&_Type=News-Releases&_Title=Paget-Minerals-Discovers-High-Grade-Rare-Earths-At-Mt.-Bisson
However, it is cautioned that the QP has not yet verified the
mineralization at this new showing and intends to undertake an
examination during the 2011 field season.
Mineralogical assessment of these samples by Paget Minerals has
confirmed that allanite is the main rare earth element mineral.
Mineral analyses of allanite from the Laura occurrence revealed a
mean value of the light rare earth elements La2O3+Ce2O3+Pr2O3+Nd2O3
of 20.3 wt.% based upon 166 compositions.
Higher La2O3+Ce2O3+Pr2O3+Nd2O3 values of 33.8 and 40.1 wt.%,
beyond the normal limits for allanite, were also found and possibly
represent an unidentified REE-rich silicate mineral. This work also
revealed very low values of thorium oxide in the allanite minerals
at this occurrence (within a range of 0.00 to 0.10 wt.%) as well as
very low values of uranium oxide (within a range of 0.00 to 0.09
wt.%). The very low radioactive mineral content of these samples
makes them potential ore minerals. Additional technical details
regarding the Mt. Bisson mineralization can be found on REI's
website www.rareearthindustries.com.
Field work is scheduled to commence in early June, 2011 and will
consist of geophysical mapping, trenching and sampling to identify
drill targets for continued investigation and the development of a
resource model for the property. Samples have been shipped to
Anthony Mariano, Ph.D., a member of Seymour Ventures' advisory
board, for metallurgical and petrological analysis, in an attempt
to determine the amenability of the minerals to chemical
separation.
Alastair Neill, president of Seymour Ventures, stated, "The
unusually high grades of rare earth oxides and initial reports of
anomalous heavy rare earth values are very encouraging and put
together with the minimal radioactive elements make these very
positive indications. We are extremely enthusiastic about these
prior results, and we are eager to begin work on this project."
Frederick W. Breaks, Ph.D., P. Geo. is the Qualified Person
responsible for the Mt. Bisson and Xeno properties, and has read
and approved the technical disclosure contained in this news
release. The exploration data summarized in this news-release were
taken from NI 43-101 Technical Report for Seymour Ventures Corp.
"Geological report on the Mount Bisson rare-earth element
claim-group" by Frederick W. Breaks, dated November 28, 2010,
unless otherwise indicated.
ABOUT SEYMOUR VENTURES CORP.
Seymour Ventures through its wholly-owned subsidiary, Rare Earth
Industries Ltd (REI), is building a vertically-integrated
industrial enterprise focused on the high-value processing and
separations of rare earth elements and rare metals. The company was
formed by executives from the fields of specialized rare earths
geology, mine development, chemical processing, and marketing and
distribution of finished rare earths products. REI is focused on
developing an environmentally sustainable supply chain for rare
earths and rare metals sourced entirely outside of China. Rare
earth elements are used in magnets for electric vehicles, display
screens for electronics, rechargeable batteries and other
high-demand products. REI's parent company, Seymour Ventures, is
publicly traded on the TSX Venture Exchange under the symbol
SEY.
Safe Harbor Statement
This news release includes forward-looking statements that are
subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove accurate
and, therefore, readers are advised to rely on their own evaluation
of such uncertainties. We do not assume any obligation to update
any forward-looking statements.
Contacts: Seymour Ventures Corp. - Media Contact Rob Smith,
Chief Executive Officer Office: (604) 558-0022 or Toll Free:
1-877-607-7841 or Cell: (778) 389-7901
rsmith@rareearthindustries.com Seymour Ventures Corp. - Media
Contact Dan Sutton, Investor Relations Office: (604) 558-0022 or
Toll Free: 1-877-607-7841 or Cell: (604) 218-8371 (604) 608-3282
(FAX) info@rareearthindustries.com
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