Seymour Ventures Subsidiary Rare Earth Industries Acquires Lanthanum-Yttrium Exploration Property
16 Maggio 2011 - 2:30PM
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 secured a rare earth element exploration
property in Fremont County, Colorado, known historically as the
Henry Pegmatite.
A total of 66 claims were staked from the US Bureau of Land
Management, and consist of approximately 1320 acres. The claims are
located approximately 3 kilometers north-northeast of Cotopaxi, CO,
and are easily accessible by paved roads. Existing infrastructure
will greatly assist REI in conducting exploration work.
The Henry Pegmatite, which has a minimum strike length of 84 m
and width of 12 m, is situated along the contact between the Pikes
Peak batholith and clastic metasedimentary host-rocks. Mining was
initiated in 1939 when several hundred tons of potash feldspar was
produced by the Colorado Feldspar Company from open cuts. Rare
earth element minerals were first documented in an investigation by
Heinrich (1948, The American Mineralogist, vol.33).
This pegmatite is an example of a rare earth element class,
REL-REE subclass, Euxenite-type according to the classification of
Cerny and Ercit (2005). Granitic pegmatite systems of this type can
exhibit marked enrichments in rare earth elements, and particularly
yttrium. This is suggested at the Henry Pegmatite by the diversity
of rare earths minerals such as euxenite-Y, xenotime-Y,
allanite-Ce, synchisite-Y (formerly called doverite), samarskite-Y,
kainosite-Y (formerly called cenosite) that are associated with
fluorite, columbite, zircon (variety cyrtolite), biotite and
magnetite (Eckel, 1997, Minerals of Colorado). For example,
synchisite-Y contains 52 wt.% Y2O3 and a notable content of several
heavy rare-earth elements (approx. 35 wt.% Dy2O3 + Er2O3 + Yb2O3 +
Gd2O3) according to historical data (Levinson and Borup 1962, The
American Mineralogist, vol.47).
REI will develop a thorough exploration program to fully
quantify and assess REE and rare metals potential of the Henry
Pegmatite. This will include mapping, geophysical analysis,
trenching and sampling, and design of an initial drill program to
outline resources. Specifically, REI will look to identify high
value drill targets.
Seymour's Qualified Person, Fred Breaks, PhD, will develop and
supervise the exploration work and will author the initial Canadian
National Instrument 43-101 technical report for the property, as
well as continuing updates as work progresses.
This acquisition is consistent with REI's vision to develop a
vertically-integrated rare earths and rare metals production supply
chain that will focus on adding significant value throughout the
production cycle. Securing potential rare earths and rare metals
production properties meets REI's acquisition mandate of being
either advanced stage assets, or assets with significant
potential.
REI's CEO Rob Smith commented, "The acquisition of this property
is complementary to REI's previously-announced, past-producing
Phantom Pegmatite, also located in Fremont County. REI has a unique
opportunity to explore and develop areas of known rare earths and
rare metals mineralization."
Frederick W. Breaks, PhD, P.Geo is the Qualified Person
responsible for the Phantom Pegmatite Project, and has read and
approved the technical disclosure contained in this news
release.
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.
www.rareearthindustries.com
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 Rob Smith Chief Executive Officer
(778) 389-7901 (604) 608-3282 (FAX) rsmith@rareearthindustries.com
Seymour Ventures Dan Sutton Investor Relations (604) 218-8371 (604)
608-3282 (FAX) info@rareearthindustries.com
www.rareearthindustries.com
Grafico Azioni Seymour Ventures Corp (TSXV:SEY)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Seymour Ventures Corp (TSXV:SEY)
Storico
Da Lug 2023 a Lug 2024