Posted by Robin Bromby @raremetalblog 2nd Aug:"Item #3: In the...

Posted by Robin Bromby @raremetalblog 2nd Aug:


"Item #3: In the race to find new, credible sources of REE, we may have been overlooking one particular company. Operating under the radar, Australia’s Crossland Uranium Mines (ASX:CUX) has now established a resource - and indicated resource of 387 million tonnes containing 114,000 tonnes of total rare earth oxides. There is also an inferred resource - a lower ranked category under Australian reporting rules - of 418 million tonnes, containing 121,000 tonnes of TREO at the Charley Creek prospect in the Northern Territory.

Here’s the kicker: the company says this represents less than 5% of the total potential area of alluvial mineralisation. In its latest quarterly report, the company makes this point: “Owing to the relatively high xenotime content, the proportion of heavy rare earths in the alluvium is high.” It says about 17% of the REE mix are represented by the heavy elements.

Two other interesting points: One, “a major international REE producer has visited the Charley Creek project for the second time … and has requested a sample of REE Charley Creek REE concentrates for test work in its laboratories”. Two, Pancontinental Uranium Corp (TSX.V:PUC) has “recommenced contributions and have paid arrears from 1 January 2012 and maintain their equity position at 45%". Quite some change of mind."


Have a nice w/e!