From Proactive Investors, December 03, 2010 - RAMS' progress and plans for 2011
Ram Resources intercepts high grade rare earths elements at Motzfeldt in Greenland Friday, December 03, 2010 by Proactive Investors Ram Resources intercepts high grade rare earths elements at Motzfeldt in Greenland
From a four hole drilling program, Ram Resources (ASX: RMR) has intercepted high grade rare earths (REE) including 25 metres at 5,031 ppm total rare earth oxides (TREO) and 20 metres at 4,852 ppm TREO at the Aries Prospect, located within the Motzfeldt Project in southern Greenland.
Three holes were completed, a fourth was partially completed before drill operations were suspended due to Hurricane Igor.
Significantly, there is evidence of a new REE mineralised zone which is distinct from the Tantalum and Niobium mineralised zone confirmed by independent consultants SRK Consulting on December 2.
TREO composition is typically 85% light rare earth oxides and 5% heavy rare earth oxides and 10% Y2O3.
The high grade niobium-tantalum results include 40m @2,499 ppm Nb205 and 195 ppm Ta205.
In addition, a number of distinct high-grade Ta-Nb and REE lenses of mineable width have been interpreted which contain potentially economic mineralisation.
A total of 3 holes were completed, with a fourth hole partially completed before drilling operations were suspended, and ultimately abandoned as a result of the impact of Hurricane Igor, which affected all of Southern Greenland and the Atlantic coast of Canada.
The holes were drilled in a line east to west across the mineralised zone, adding to several drill holes previously completed on the same line.
The key outcome for the 2011 season, which commences in June, will be to gather sufficient data to estimate a JORC compliant Inferred Mineral Resource at Aries.
The 2011 exploration program is planning 4,000m of diamond drilling for about 16-18 holes which will mainly target the north south strike extensions of the main mineralised zone at Aries.
The program intends to extend the drilled strike length to 1,500m with possibly 2 holes drilled further to the west to test the concept a high grade REE zone that is distinct from the main Ta-Nb central zone.
It also plans to increase the coverage of ground geophysics and geological mapping before the drill programme commences which should provide additional data to assist in the targeting of drill holes.
Further mineralogical analysis and metallurgical test work from samples at Aries are also planned at the end of the field season.
Ram will also carry out further reconnaissance exploration at targets on the main Motzfeldt licence 2010/46, and also first pass evaluation on the larger licence 2010/09 (which surrounds 2010/46).
The company expects EL 2010/09 to be granted by the end of 2010.
RMR Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
