EANS-News: Tantalus Rare Earths AG
Drilling results (with document)
06.09.2011 – 12:10
-------------------------------------------------------------------------------- Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- Company Information/General update and update on drilling results from Target 1 Düsseldorf (euro adhoc) - General update and update on drilling results from Target 1 (Tantalus-AG, Düsseldorf, 06 September 2011) The Directors of Tantalus Rare Earths AG ("TRE"), a German company exploring an extensive area of secondary rare earth mineralisation at surface and primary, near-surface bedrock rare earth mineralisation in north-western Madagascar (the "TRE Project"), are pleased to announce a general update on work progress and on new assay results from their diamond drilling programme on Target 1, the Ampasibitika Target. Site visit by SRK Consulting (UK) Ltd Two members of SRK Consulting Ltd, Cardiff/UK have recently finished their site visit to the Tantalus project. The scope of their site visit was to control the progress of field work and the quality of operations in order to provide an update on their Competent Person's Report and to produce a first, non-NI43-101 compliant resource estimate for 2 prospects. The latter is expected for mid-September 2011. Arrival of Mr. Chris Barrett, Chartered Geologist Mr. Chris Barrett, 40, a British Chartered Geologist, has recently joined the field team in Madagascar. Chris has more than 15 years of experience in the mineral exploration industry, many of which he has spent in Africa. His role in the project will be mainly to give support to the field crews, to restructure the growing data base and to process data. Work Progress Work is currently progressing at a high speed on 5 out of the 6 target zones. New results may require more detailed work on some of the prospects but the initial field programme for 2011 should be finished before the end of this year. The summary table showing the initial work programme for 2011 and the progress until end of August 2011 is attached to this release as a PDF. Diamond drilling progress on Target 1 (Ampasibitika Prospect) All three rigs are drilling 7 days a week on two 12 h shifts on the Ampasibitika prospect, TRE's main target for bedrock REE mineralisation and overlying REE bearing argillaceous laterites. To-date, 214 diamond holes have been finished and a total of 16,300 m has been drilled. At the current speed, drilling on this prospect will be finished by December 2011. The Company has received more assay results from ALS Chemex, Canada for a further 11 drill holes, results for a further 35 holes are pending. The new results confirm that the target is covered by a continuous layer of REE bearing argillaceous laterites and that the target is underlain a set of multiple mineralised veins that can be followed over several kilometers strike length. The drilled widths of the REE bearing argillaceous layer averages 8.48 m which corresponds to a true (vertical) thickness of approximately 7 m. The TREO grades vary between 390 ppm and 1910 ppm, averaging 753 ppm in all 11 drill holes. The ratio of HREO to TREO averages 19 and 21 % which is fairly consistent to earlier results. Uranium and thorium grades are continuing to be very low. Each drill hole has intersected between 1 and 4 different mineralised veins. The drilled widths vary between less than a metre and 23 m. The best TREO grades reach 0.24 %, Ta, Nb, Zr, Ga and Sn are also enriched. The overall ratio HREO/TREO is 21/79. Uranium and thorium grades are low. Commenting on these results, Ivan Murphy, Executive Director of Tantalus Rare Earths AG said: "This latest announcement in conjunction with recent updates continues to validate our drill programme and strategy. It further demonstrates that in partnership with SRK we are now close to defining a major Rare Earth Resource on a small portion of our prospect. We are delighted to welcome Chris Barrett to the team who brings a lot of experience in the sector and in operating in Madagascar'" The summary table showing the TREO, % of HREO, niobium oxide, tantalum oxide, tin, gallium, zirconium oxide, uranium oxide and thorium oxide from 11 drill holes pits on Target 1 is attached to this release as a PDF. Notes to Editors About Tantalus Rare Earths ("TRE") TRE is a German incorporated holding company whose subsidiaries are engaged in the exploration and development of rare earths. TRE's shares are quoted on the Open Market of the Frankfurt Stock Exchange. TRE's principal asset is an exploration project located in north-western Madagascar and comprises rare earth-tantalum-niobium-zirconium-hafnium enriched dykes and sills and Rare Earth Element ("REE") bearing argillaceous laterites derived from the weathering of underlying alkaline intrusives. There are numerous indications that most of the alkaline intrusive bodies within the concession are overlain by REE bearing argillaceous laterites. TRE is therefore considering the whole area underlain by alkaline intrusives (150 to 170 sq km) as prospective for secondary REE mineralisation in the weathering crust. The exploration programme aims to define the primary (vein/skarn hosted) and secondary (argillaceous laterites) mineralisation present on the concession towards a NI 43-101 compliant mineral resource estimate and support a detailed feasibility study towards mine development and production. Tantalus Rare Earths AG Berliner Allee 12 40212 Düsseldorf Deutschland Telefon: +49 (0)211 52391 430 Telefax: +49 (0)211 52391 200 e-Mail: contact [at] tre-ag.com Internet: http://www.tre-ag.com Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/LmpSlwod Further inquiry note: For further information please contact: Ivan Murphy, Director of TRE Tel: +44 (0) 20 3214 9930 Ana Ribeiro Blythe Weigh Communications Tel: +44 (0) 207 138 3206 or +44 (0) 7980 321 505 end of announcement euro adhoc -------------------------------------------------------------------------------- Attachments with Announcement: ---------------------------------------------- http://resources.euroadhoc.com/us/LmpSlwod company: Tantalus Rare Earths AG Berliner Allee 12 D-40212 Düsseldorf phone: +49 (0)211 52391 430 FAX: +49 (0)211 52391 200 mail: contact [at] tre-ag.com WWW: http://www.tre-ag.com sector: Holding companies ISIN: DE000A0SMSL4, DE000A1KRQE7 indexes: stockmarkets: free trade/entry standard: Frankfurt language: English