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Search Minerals Inc.
Summary
| Project: | Foxtrot | |
|---|---|---|
| Deposit: | Deep Fox | |
| Location: | Canada | |
| Commodities: | Rare Earth | |
| Date: | 2/28/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-2-2019: Search Minerals Inc. announces an Exploration/Drilling Update report for its Deep Fox deposit at the Foxtrot project. Drilling results incl. 21.49m @ 1.0% TREE from 173.71m. Greg Andrews, President/CEO states; “These drill results are a key mil | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Randy Miller (Internal) | |
| ABSTRACT: | Greg Andrews, President/CEO states; “These drill results are a key milestone in the development of our Critical Rare Earth District in SE Labrador. This successful drill program will allow Search to engage with our consultants to provide a mineral resource estimate for the Deep Fox property. Upon completion of the mineral resource estimate, we expect to provide an updated Preliminary Economic Assessment (“PEA”) which will look to optimize the mining and processing using both Deep Fox and Foxtrot material as a source feed. We continue to advance all necessary critical activities for this project to get to production. Our proprietary Direct Extraction Process produced a high purity 99% mixed rare earth oxide concentrate from our successful 2017 pilot plant operation. The mixed REO concentrate produced has allowed Search to evaluate options for rare earth separation to facilitate entry into the rare earth supply chain. The pilot plant optimization program is well underway at SGS Minerals, to further reduce cost and process risk. Environmental work started in 2018 will continue through 2019, including the submission of a Project Description for Deep Fox to initiate the environmental impact statement process. Our low cost project is very timely with the increased attention in the growth of clean and green technologies, led by the accelerating trend of electrification of vehicles. I would like to thank all our shareholders, employees, contractors, suppliers, provincial and federal agencies, the local communities, the NunatuKavut Community Council, and all other stakeholders, who have been so supportive as we develop this world class District in the Province of Newfoundland and Labrador.” | |
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