STH Stelmine Canada Ltd

Stelmine Canada Ltd. ("Stelmine"), (TSX VENTURE:STH) today announced the closing
of an acquisition agreement under which the company can acquire up to a 100%
interest in 9 mining claims, covering an area of 540 hectares in Abbadi
Township, 52 kilometers northwest of Sept-Iles in the Province of Quebec.


This is a highly strategic acquisition for the company, which is part of a
continuous pattern of rare earth acquisitions.


An aerial radiometric survey and trench sampling performed by SOQUEM in 1976 led
to the discovery of three major showings oriented NW-SE. The minerals observed
in these three showings are fergusonite, chevkinite, gadolinite, pyrochlore,
zircon, monazite, allanite and ferrocolombite.


The J6L1-Centre anomaly:

This is a radiometric anomaly corresponding to a mineralized zone 50 metres
long, containing several mineralized horizons one metre or more wide in a
quartzofeldspathic gneiss. Mineralization takes the form of a much folded band
enriched with quartz-zircon. The samples gave average assays of 0.522% Nb2O5
over 11 metres. The other significant assays obtained are 1.08% Y, 0.455% La,
9.45% Zr, 0.032% U3O8 and 0.025% ThO2.


The J6L1-West anomaly:

This is a mineralized zone located in a quartzofeldspathic gneiss and a high
migmatized granitic gneiss. Radioactivity is continuous and mineralization is
concentrated in the quartz-rich veins with accessory microcline, albite and
zircon. The mineralized zone presents a definite spatial continued and continues
beyond the northern limit. The best intersection obtained in trench sampling was
2.35% Nb2O5, 0.58% Y, 0.12% La, 2.90 Zr, 0.05% U3O8, and 0.02% ThO2. The maximum
assays attained are 0.22% Ta2O5, 3.11% La and 7.8% Zr.


The J6L1-Est anomaly:

This is a mineralized zone located in a paragneiss. Mineralization is
discontinuous with erratic rare earth and thorium assays. The best intersection
obtained in trench sampling was 0.47% Nb2O5, 0.021% Ta2O5, 0.0296% U3O8, and
0.0591% ThO2 over a 1.5 metre distance.


Stelmine can acquire a 100% interest by paying $75,000, issuing 475,000 shares
of stock and earning $100,000 in the first year, and by paying $50,000 and
issuing 175,000 shares of stock in the second year.


On November 23, 2009, the company already announced the acquisition of rare
earth properties in the Kipawa alkaline region, which covers an area of 1,775
hectares where showings were announced of 11.3% REE by Matamec Resources and 4.4
% REE by Fieldex Exploration.


On December 3, 2009, the company announced the closing of an acquisition
agreement, under which the company can acquire up to a 100% interest in 6 mining
claims covering an area of 360 hectares, divided into 3 blocks, located in the
Wakefield Alkaline Complex north of Gatineau, Quebec, where the compilation of
historical work has shown three major rare earth anomalies with values ranging
up to more than 4% REE.


On December 15, 2009, the company announced the closing of an acquisition
agreement, under which the company can acquire up to a 100% interest in 80
mining claims covering an area of 4,800 hectares divided into 5 blocks, located
in the Wakefield Alkaline Complex north of Gatineau, Quebec.


This new acquisition is part of Stelmine's strategy of aggressively acquiring
properties with high rare earth potential in Quebec in different geological
environments well known for their potential for this type of mineralization.

.
Stelmine's management is very pleased with this acquisition, which is consistent
with the new rare earth development orientation that management wants to give
the company.


To date, the company holds rare earth properties in four regions of the Province
of Quebec for a total of 7,475 hectares.


Stelmine Canada Ltd. is a junior exploration company listed on the TSX Venture
Exchange under the symbol STH.

Stelmine Canada (TSXV:STH)
Historical Stock Chart
Von Mai 2024 bis Jun 2024

Stelmine Canada (TSXV:STH)
Historical Stock Chart
Von Jun 2023 bis Jun 2024