Stelmine Acquire Rare Earth Metal Properties in the Wakefield Alkaline Complex of Gatineau, Quebec
03 Dezember 2009 - 4:28PM
Marketwired
Stelmine Canada Ltd ("Stelmine"), (TSX VENTURE: STH) announces that
the company has signed an agreement in which it may acquire up to
100% interest in 6 important mining claims covering 360 hectare
distributed into 3 blocs located in the Wakefield alkaline complex,
north of Gatineau, Quebec.
The compilation of historic analysis has revealed the presence
of three important rare earth concentration anomalies (REE): Ce,
La, GD, Er, Yb): with concentrations of up to 4% REE.
Templeton's carbonatite
The rare earth minerals present in this prospect are monazite
and fluorapatite, thin veins of fluocarbonate in calcite and
dolomite deposits. Four samples drawn from the site have all shown
rare earth concentration anomalies of 2,601 ppm, 3,230 ppm 2,566
ppm of which 1,750 ppm of Ce, 792 ppm of La and 642 ppm of Nd.
Quinnville's carbonatite
Minerals of rare earths present in this prospect are monazite
and fluorapatite, thin veins of fluocarbonate in calcite and
dolomite deposits. Four samples drawn from the site have all shown
rare earth concentration anomalies of 5,003 ppm, and 5,985 ppm of
which 3,125 ppm of Ce.
Cantley's carbonatite
This rare earth prospect corresponds to a carbonatite vein of
about 2.3 metres thick lined with fenite and aegyrine. The vein
consists in a 1.3 meter layer of calcite, barite and parisite and
of a second 1.0 meter layer of calcite, barite, specularite and
aegyrine. The sample drawn from this site showed rare earth
concentration anomalies of 40,642 ppm (4.06%) of REE of which
22,100 ppm of Ce, 9,405 ppm of La and 8,925 ppm of Nd.
Stelmine could acquire 100% interest by paying $25,000, issuing
300,000 shares and spending $100,000 of exploration work over a
period of 12 months and grant a 2% smelter royalty (NSR) redeemable
for the sum of $500,000.
It is important to remind that the company has already announced
last November 23rd, a major acquisition of rare earth element
properties covering an area of 1,775 hectare in the Kipawa's
alkaline complex region in the sector where the Matamec Resources
(11.3% REE) and Fieldex Exploration (4.4% REE) prospects have been
published.
Stelmine's management is very pleased with this acquisition
reflecting the new vision of the company's development thru the
rare earth element exploration.
Stelmine now owns rare earth elements properties in two regions
of the province of Quebec for a total of 2,135 hectares.
Stelmine Canada Ltd. is a junior mining exploration company
listed on the TSX Venture Exchange under the STH symbol.
In regard to this release, Mr. Jacques Marchand is acting as the
Qualified Person in compliance with NI 43-101 and has reviewed its
content.
The TSX Venture Exchange does not accept responsibility for the
relevance or accuracy of this news release.
Contacts: Stelmine Canada Ltd. Michel Lemay President and Chief
Executive Officer 514-866-8209
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