Hudson Reports High Grade Rare Earth Assays From 2012 Drill Program On the Sarfartoq Project in Greenland
21 Januar 2013 - 2:00PM
Marketwired Canada
HUDSON RESOURCES INC. (the "Company") (TSX VENTURE:HUD)(OTCQX:HUDRF) is pleased
to announce the 2012 drill results for the Sarfartoq light rare earth element
("REE") project in Greenland. A total of 5,555 meters of diamond core drilling
was completed in connection with rare earth exploration and development.
Nineteen holes were drilled in the vicinity of the ST1 Zone resource. The other
four were exploration holes drilled on the south side of the carbonatite at the
ST24 target. Complete drill results are presented in Table 2 below and a map of
the drill locations will be available on the Company's website.
2012 Drill Program Highlights:
-- Sixteen drill holes surrounding and infilling the ST1 Zone resource area
contained high-grade intersections including:
-- 6 meters of 6.05% TREO (SAR12-03)
-- 6 meters of 4.91% TREO (SAR12-01)
-- 8 meters of 4.61% TREO (SAR12-15)
-- 6 meters of 4.34% TREO (SAR12-15)
-- Wide zones of neodymium mineralization at ST1 continue to demonstrate
the high proportion of neodymium that has been outlined in the resource.
-- Drill results confirm continuation of high-grade mineralization at
depth.
James Tuer, Hudson's President, stated, "We are very pleased with the results
from our 2012 drill program. We have continued to demonstrate that the
mineralization extends to the northeast and have intersected some of our
highest-grade material as we move in that direction. Drilling to the south
confirmed that the mineralization continues at depth with a high ratio of
neodymium to total rare earth oxides at 23%. We expect that these results will
increase the overall grade and tonnage of the resource when they have been
incorporated into the resource model."
"Going forward, our efforts at the ST1 Zone will focus on defining the
metallurgical flow sheet as we have already outlined a sufficiently large and
potentially economic deposit. We expect to have our flow sheet completed by the
end of the second quarter of this year. This is a relatively low-cost exercise
but it is critical in demonstrating the viability of a REE deposit."
"The bulk of the Company's capital budget for 2013 will be focused on our White
Mountain anorthosite project, where the Company has made substantial progress in
a relatively short time. We expect to have significant updates on this project
over the next several months."
The ST1 Zone at Sarfartoq represents one of the industry's highest ratios of
neodymium and praseodymium to TREO, averaging 25%, based on the inferred
resource. Based on the latest resource model, the ST1 Zone contains over 27
million kilograms of neodymium oxide and 8 million kilograms of praseodymium
oxide, which are the key components in permanent magnets and the fastest growing
sector of the rare earths industry.
Table 1: 2012 High-Grade Intercepts of Neodymium and Praseodymium Oxide.
(Nd+Pr)
From To Intersection 2O3
Hole ID (m) (m) 1.(m) TREO (kg/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
ST-1 North
SAR12-01 141 147 6 4.91% 9.9
----------------------------------------------------------------------------
SAR12-03 126 132 6 6.05% 11.4
----------------------------------------------------------------------------
SAR12-04 148 154 6 3.86% 8.2
----------------------------------------------------------------------------
ST1 South
SAR12-05 352 358 6 3.23% 7.1
----------------------------------------------------------------------------
SAR12-07 386 406 20 2.36% 5.5
----------------------------------------------------------------------------
ST1 Infill
SAR12-06 192 212 20 3.16% 6.7
----------------------------------------------------------------------------
SAR12-20 92 100 8 3.90% 7.8
----------------------------------------------------------------------------
SAR12-21 45 55 10 2.39% 5.3
----------------------------------------------------------------------------
SAR12-22 146 174 28 1.85% 5.2
276 296 20 2.35% 5.7
----------------------------------------------------------------------------
ST1 North Extension
SAR12-152. 163 169 6 4.34% 7.2
275 283 8 4.61% 6.7
----------------------------------------------------------------------------
SAR12-182. 154 168 14 3.00% 4.8
200 208 8 3.48% 4.8
----------------------------------------------------------------------------
SAR12-192. 46 52 6 3.11% 5.2
----------------------------------------------------------------------------
Note 1. The 2012 drill holes at ST1 were generally drilled at an azimuth of
approximately 310 degrees and a dip of between 45 and 65 degrees. As a
result, true widths are estimated to be 80% to 95% of reported
intersections. An estimate of the true width for holes SAR12-01, 02, 04,
05, and 19 can not be determined until the resource has been updated.
Note 2. These results were previously published on September 24, 2012.
Note 3. Neodymium Oxide (Nd2O3) currently trades for $82.50/kg and
Praseodymium Oxide (Pr2O3) trades for $90/kg FOB China (ref: Industrial
Minerals on line, January 15, 2013).
Table 2: Complete 2012 Sarfartoq Drill Results
(Nd+Pr) (Nd+Pr)
From To Inter- Oxide Oxide
Hole ID Area (m) (m) section TREO /TREO (kg/t)
----------------------------------------------------------------------------
SAR12-01 ST-1 N 137.00 151.00 14.00 3.49% 20.1% 7.02
incl 141.00 147.00 6.00 4.91% 20.1% 9.87
----------------------------------------------------------------------------
SAR12-02 ST-1 S 192.00 194.00 2.00 3.03% 25.2% 7.63
and 302.00 304.00 2.00 2.14% 22.8% 4.87
----------------------------------------------------------------------------
SAR12-03 ST-1 N 126.00 140.00 14.00 4.26% 18.8% 8.02
incl 126.00 132.00 6.00 6.05% 18.9% 11.42
and 156.00 158.00 2.00 2.36% 18.7% 4.40
----------------------------------------------------------------------------
SAR12-04 ST-1 N 138.00 158.00 20.00 2.35% 20.4% 4.78
incl 148.00 154.00 6.00 3.86% 21.2% 8.17
----------------------------------------------------------------------------
SAR12-05 ST-1 S 82.00 86.00 4.00 1.53% 27.8% 4.26
and 270.00 272.00 2.00 2.11% 24.4% 5.15
and 332.00 372.00 40.00 1.68% 25.6% 4.31
incl 352.00 358.00 6.00 3.23% 22.0% 7.10
and 418.00 448.00 30.00 1.17% 30.0% 3.51
incl 420.00 428.00 8.00 1.82% 34.6% 6.31
----------------------------------------------------------------------------
SAR12-06 ST-1 Infill 172.00 174.00 2.00 2.76% 20.4% 5.63
and 184.00 220.00 36.00 2.15% 21.6% 4.65
incl 192.00 212.00 20.00 3.16% 21.2% 6.70
----------------------------------------------------------------------------
SAR12-07 ST-1 S 360.00 406.00 46.00 1.73% 26.2% 4.55
incl 386.00 406.00 20.00 2.36% 23.5% 5.53
----------------------------------------------------------------------------
SAR12-08 ST-1N 156.00 160.00 2.00 0.41% 36.9% 1.50
----------------------------------------------------------------------------
SAR12-09 ST-24 No significant results
----------------------------------------------------------------------------
SAR12-10 ST-1N 23.00 25.00 2.00 2.42% 16.6% 4.03
and 31.70 33.33 1.63 6.22% 16.0% 9.97
and 94.00 96.00 2.00 3.85% 19.5% 7.52
and 204.00 206.00 2.00 2.09% 17.6% 3.67
----------------------------------------------------------------------------
SAR12-11 ST-24 No significant results
----------------------------------------------------------------------------
SAR12-12 ST-1N 189.00 191.00 2.00 2.21% 19.4% 4.28
and 233.00 235.00 2.00 4.73% 19.0% 8.98
----------------------------------------------------------------------------
SAR12-13 ST-24 22.00 24.00 2.00 2.15% 16.3% 3.52
----------------------------------------------------------------------------
SAR12-14 ST-24 No significant results
----------------------------------------------------------------------------
SAR12-15 ST-1 North Extension 90.00 100.00 10.00 3.42% 16.0% 5.47
and 163.00 177.00 14.00 2.74% 16.9% 4.64
incl 163.00 169.00 6.00 4.34% 16.7% 7.24
and 233.00 287.00 54.00 2.11% 15.7% 3.32
incl 243.00 251.00 8.00 2.54% 16.6% 4.22
and 257.00 269.00 12.00 2.91% 15.8% 4.60
and 275.00 283.00 8.00 4.61% 14.5% 6.66
----------------------------------------------------------------------------
SAR12-16 ST-1 S Failed to reach target depth
----------------------------------------------------------------------------
SAR12-17 ST-1 S Failed to reach target depth
----------------------------------------------------------------------------
SAR12-18 ST-1 North Extension 38.00 40.00 2.00 2.28% 17.3% 3.93
and 48.00 56.00 8.00 2.59% 17.2% 4.46
and 82.00 90.00 8.00 1.65% 17.9% 2.95
and 116.00 124.00 8.00 2.29% 16.5% 3.77
and 154.00 168.00 14.00 3.00% 16.1% 4.84
and 200.00 208.00 8.00 3.48% 13.9% 4.85
----------------------------------------------------------------------------
SAR12-19 ST-1 North Extension 46.00 52.00 6.00 3.11% 17.6% 5.25
and 134.00 136.00 2.00 2.57% 17.6% 4.53
and 148.00 150.00 2.00 2.89% 13.6% 3.93
and 156.00 158.00 2.00 2.46% 16.4% 4.03
and 160.00 162.00 2.00 4.62% 13.2% 6.08
and 172.00 174.00 2.00 2.18% 14.6% 3.19
and 198.00 200.00 2.00 2.70% 15.7% 4.23
----------------------------------------------------------------------------
SAR12-20 ST-1 Infill 74.00 104.00 30.00 2.18% 16.1% 4.69
incl 78.00 84.00 6.00 2.66% 21.5% 5.72
and 92.00 100.00 8.00 3.90% 20.1% 7.85
and 160.00 172.00 12.00 2.38% 22.3% 5.32
----------------------------------------------------------------------------
SAR12-21 ST-1 Infill 37.00 59.00 22.00 1.79% 22.2% 3.97
incl 45.00 55.00 10.00 2.39% 22.2% 5.30
----------------------------------------------------------------------------
SAR12-22 ST-1 Infill 42.00 300.00 258.00 1.15% 27.3% 3.15
incl 52.00 56.00 4.00 1.41% 30.9% 4.35
incl 142.00 296.00 154.00 1.57% 26.4% 4.13
incl 146.00 174.00 28.00 1.85% 28.2% 5.21
and 224.00 296.00 72.00 1.87% 25.4% 4.74
incl 276.00 296.00 20.00 2.35% 24.2% 5.69
----------------------------------------------------------------------------
SAR12-23 ST-1 Infill: Hole abandoned after 23m due to mechanical failure
Note: All measurements are in meters. All elements reported by Actlabs are
in parts per million (ppm) and have been converted to % oxide. Total Rare
Earth Oxides (TREO) refers to the elements lanthanum through lutetium plus
yttrium expressed as oxides in the form REE2O3.
Drill core was logged and sampled in the field and split core was shipped to
North Vancouver, BC for processing at ALS Canada Ltd. A strict QA/QC program was
followed, which includes the use of elemental standards, duplicates and blanks.
In cases where the entire hole was not sampled, only significant drill
intersections of carbonate mineralization were sampled. Core was split in the
field with half of the core being sent to ALS Chemex and the remaining half
stored on-site for future reference. All samples were analyzed using lithium
borate fusion, acid dissolution and ICP-MS analysis.
The Sarfartoq REE project is located within 20 km of tidewater and only 60 km
from Greenland's international airport at Kangerlussuaq. The project is owned
100% by Hudson. The Company remains well financed with approximately $7 million
in working capital.
Dr. Michael Druecker is a qualified person as defined by National Instrument
43-101 and reviewed the preparation of the scientific and technical information
in this press release in respect of the Sarfartoq REE Project.
ON BEHALF OF THE BOARD OF DIRECTORS
James Tuer, President
Forward-Looking Statements
This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this news
release, including, without limitation, statements regarding plans for the
completion of a financing and the intended terms and use of proceeds thereof,
and other future plans and objectives of the Company are forward-looking
statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ materially from the
Company's plans or expectations include market prices, general economic, market
or business conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time to time in
the filings made by the Company with securities regulators. The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise except as otherwise required by applicable securities legislation.
FOR FURTHER INFORMATION PLEASE CONTACT:
Hudson Resources Inc.
James Tuer
President
604-628-5002 or 604-688-3415
tuer@hudsonresources.ca
www.hudsonresources.ca
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