Welcome!

News Feed Item

U.S. Rare Earths Receives Approval To Remove Its Rare Earths Stockpile In Montana

Material handling to begin immediately

PLANO, Texas, Aug. 5, 2014 /PRNewswire/ -- U.S. Rare Earths, Inc. (OTCQB:UREE), a domestic rare earths exploration company with approximately 22,000 acres of mining claims in Idaho, Montana and Colorado, announced that the company has received approval from the U.S. Forest Service to access a stockpile located on USRE-held mining claims, which are part of the company's ongoing exploration efforts at the Last Chance prospect claims in the Lemhi Pass region of Idaho and Montana. The company  intends to begin to remove and conduct metallurgical sampling of the material immediately.

The company believes this stockpile contains at least 10 to 12 tons of highly concentrated rare earths enriched material.

The company also said that for purposes of exploration, it plans to reopen existing adits, horizontal tunnels extending underground more than 400 meters or 1,300 feet which are known to intersect one of the largest identified mineralized veins of heavy and critical rare earths located within the continental United States. The company believes that it would be the first company to proceed with rare earth underground exploration and sampling in the continental United States.

Background

In 2012, 2013, and 2014, the company conducted extensive exploration-related field work. Work began in 2012 with the detailed independent evaluation of the company's extensive historic data warehouse, as well as other detailed historic mapping of its claims and prior geologic field work, including both historic and new channel, core and grab sampling, core drilling, and metallurgical and chemical engineering data collection activities.

All of the company's field work was compiled using NI 43-101 compliant methods, including work at the Last Chance, Lemhi Pass, North Fork and Diamond Creek projects. These methods ensured and verified the accuracy of the historic data, in addition to providing  new field work and metallurgical and chemical engineering data. The exploration team consisted of 20 professionals, including four qualified geologists who supervised and conducted all of the field work, in coordination with the team's research, geotechnical, geological, and drilling teams.

The stockpile was extracted by Idaho Energy and Resources Co. (IERCO) as part of rare earths exploration. Based on data published by IERCO, the company estimates  that the stockpile contains a substantial amount of rare earths enriched material, with high percentages of both heavy and critical rare earth elements.

The company said that its exploration teams and extensive field work have  verified the richness of all of its other historic data. In addition, the teams provided  new exploration data, especially in the targeted areas of the Last Chance, Lemhi Pass, North Fork, Diamond Creek, and its Rudolph Hill, and Wet Mountain project claims in Colorado.

"It is really exciting to be part of the team that realizes access and exploration to the company's Last Chance project, which is believed to have  the only known rare earth underground workings in North America," said Howard Dunn, Principal of Process Engineering. "The existing adit located on U.S. Rare Earths' property has the potential to be rehabilitated, allowing for advanced exploration right here in the continental United States."

Additionally the company completed its latest on-site field review with U.S. Forest Service personnel on July 10th, 2014.  The company anticipates  receiving a formal permit within the next 90-120 days, which will allow for the re-opening of the Last Chance underground northern adit and to begin proceeding with underground exploration and sampling in the continental United States.

Rare Earth element minerals were extracted previously by IERCO during its historical underground adits (tunneling) activities associated with rare earth exploration on the Last Chance vein. Historical data indicates that substantial amounts of rare earths are held in the stockpile.

"We are delighted to have been granted permission to access and remove the 10 to 12 tons of material from this stockpile," said Kevin Cassidy, CEO of U.S. Rare Earths. "This approval comes with the culmination of over three years of data collection and thorough research and development of our properties, concluded in compliance with NI 43-101 standards, including both the broad and detailed exploration and drilling results conducted to date. We believe this national treasure and invaluable American resource enhances our potential and positions U.S. Rare Earths to be the first U.S.-based business to provide a domestic supply chain solution to America of both heavy and critical rare earths sourced here in the continental United States."

Earlier this year, the company announced that it had completed preliminary exploration and assessment of a portion of its claims in Lemhi Pass, including the Last Chance claims. U.S. Rare Earths holds more than 142 claims covering more than 2,300 acres in the Lemhi Pass region. The independent survey, prepared by Process Engineering and compliant with the NI 43-101 standard, showed a significant concentration of both critical and heavy rare earths in the company's Lemhi Pass projects.

About U.S. Rare Earths, Inc.
U.S. Rare Earths, Inc. is a U.S. based domestic mineral exploration, mining and claims acquisition company based in Plano, TX. The Company holds approximately 22,000 acres of mining claims for rare-earth elements in Colorado, and in the Lemhi Pass Region of Idaho and Montana. The Company is in the exploration stage and does not have any reportable reserves.

Rare earth elements are critical to many existing and emerging 21st century applications including clean-energy technologies such as wind turbines, hybrid cars and electric vehicles; high-technology applications including cell phones and digital music players; hard disk drives used in computers; microphones; fiber optics; lasers; and in addition, critical defense applications such as global positioning systems, radar and sonar; and advanced water treatment applications, including those for industrial, military, homeland security, domestic and foreign aid use.

For more information visit  www.usrareearths.com 

Safe Harbor Statement:
Some statements contained in this news release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. These statements may contain words such as "desires," "believes," "anticipates," "plans," "expects," "intends," "estimates" or similar expressions. These statements are not guarantees of the Company's future performance and are subject to risks, uncertainties and other important factors that could cause its actual performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Such statements include, but are not limited to, rare-earth industry risks, estimates of mineralized materials , litigation risks, plans to raise capital, and board, management and governance risks. Additional information regarding factors that could cause results to differ materially from management's expectations is found in the Company's SEC filings. The Company intends that the forward-looking statements contained herein be subject to the above-mentioned statutory safe harbors. Investors are cautioned not to rely on forward-looking statements.

SOURCE U.S. Rare Earths, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Discover top technologies and tools all under one roof at April 24–28, 2017, at the Westin San Diego in San Diego, CA. Explore the Mobile Dev + Test and IoT Dev + Test Expo and enjoy all of these unique opportunities: The latest solutions, technologies, and tools in mobile or IoT software development and testing. Meet one-on-one with representatives from some of today's most innovative organizations
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, discussed the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
"A lot of times people will come to us and have a very diverse set of requirements or very customized need and we'll help them to implement it in a fashion that you can't just buy off of the shelf," explained Nick Rose, CTO of Enzu, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web co...
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.