VANCOUVER, Dec. 9, 2014 /CNW/ - Tasman Metals
Ltd. ("Tasman" or the "Company") (TSXV:TSM) (Frankfurt:T61)
NYSE-MKT: TAS). Mr Mark Saxon, President & CEO,
is pleased to announce the completion of a drill program to collect
a representative metallurgical sample at the 100%-owned Norra Karr
heavy rare earth element (REE) project in Sweden. In
addition, guidance on the imminent completion of the Norra Karr
Preliminary Feasibility Study ("PFS") is provided.
The recent diamond drill program has delivered approximately 8
tonnes of large diameter core that will be used for additional
metallurgical test work during 2015. The cost of this drill
program was borne by the EURARE project, of which Tasman is
a research partner. EURARE is a research project co-funded by
the European Commission under the Seventh Framework Programme of
the European Community for Research, Technological Development and
Demonstration Activities (Grant Agreement
NMP2-LA-2012-309373).
An array of shallow holes each 83.7mm in diameter and up to 12m
in length was drilled across an area approximately 250m x
550m. The Norra Karr REE deposit begins at surface with a
width of 350m, a length of 800m lying typically beneath less than 1
metre of soil cover, making representative sample collection by
such drilling both simple and cost effective.
"The collection of this large metallurgical sample places
Tasman in a good position for the ongoing optimization of our
process flowsheet during 2015" said Mark Saxon, Tasman's President and CEO.
"We certainly appreciate the funding contribution of the
European Commission via the EURARE project for this work, and their
on-going interest in development of a European REE supply
chain."
Tasman and its consultants are now approaching completion of the
PFS on the Norra Karr project. The PFS is substantially
complete, with only financial modeling and final validation to be
completed. Release of the results of the PFS is anticipated
for January 2015.
Norra Karr is unusually rich in the heavy REE dysprosium (Dy)
that is essential to high strength permanent magnets which operate
at elevated temperature. Recent upwards price movements in Dy
(eg SMM Information and Technology, 5/12/14) and the long term
growth forecast for permanent magnet consumption of 5-10% provides
a positive background for the release of this PFS.
Mr Saxon continues "After the challenging market conditions
of 2014, the Tasman team is looking forward to taking the next
steps in project development during 2015, with our PFS in hand and
improving market conditions for REE's."
Norra Karr lies 15km NNE of the township of Gränna and 300km SW
of the capital Stockholm in mixed
forestry and farming land, and is secured to Tasman with a 25-year
Mining Lease. The project is proximal to road, rail, power
and operating ports, plus skilled personnel, minimizing the need
for offsite infrastructure to be built by the Company.
Tasman's Qualified Person, Mr. Mark
Saxon, President and Chief Executive Officer of Tasman and a
Fellow of the Australasian Institute of Mining and Metallurgy and
Member of the Australian Institute of Geoscientists, has reviewed
and verified the contents of this news release.
About Tasman Metals Ltd.
Tasman is a Canadian mineral exploration and development company
focused on critical metals including Rare Earth Elements (REE's)
and tungsten (W) in Scandinavia. Tasman is listed on the TSX
Venture Exchange under the symbol "TSM" and the NYSE-MKT
under the symbol "TAS". REE and tungsten demand is
increasing, due to the metals' unique properties that make them
essential for high technology and industry. Since over 95% of
REE and 80% of tungsten supply is sourced from China, the European Commission promotes policy
to develop domestic supply of critical metals to ensure the
security of industry. Tasman receives research funding from
the European Commission.
Tasman's exploration portfolio is uniquely placed, with the
capacity to deliver strategic metals from politically stable,
mining friendly jurisdictions with developed infrastructure and
skills. The Company's Norra Karr and Olserum projects in
Sweden are two of the most
significant known heavy REE resources in the world, enriched in
dysprosium, yttrium, terbium and neodymium. The Company is
now focused on the safe, sustainable and responsible development of
its Scandinavian mineral portfolio.
About EURARE
The EURARE project has received funding from the European
Community's Seventh Framework Programme ([FP7/2007-2013]) under
grant agreement n°309373. This publication reflects only the
author's view, exempting the Community from any liability". Project
web site: www.eurare.eu.
On behalf of the Board,
"Mark
Saxon"
Mark
Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture
Exchange), the NYSE - MKT nor the Frankfurt Stock Exchange accepts
responsibility for the adequacy or accuracy of this news
release.
Cautionary Note to U.S. Investors Concerning Mineral
Resources and Reserves. In this news release, the definition of
"mineral resources" is that used by the Canadian securities
administrators and conforms to the definition utilized by CIM in
the "CIM Standards on Mineral Resources and Reserves – Definitions
and Guidelines" adopted on August 20, 2000 and amended
December 11, 2005.
The standards employed in estimating the mineral resources
referenced in this news release differ significantly from the
requirements of the United States Securities and Exchange
Commission (the "SEC") and the resource information reported
may not be comparable to similar information reported by
United States companies. The
term "resources" does not equate to "reserves" and
normally may not be included in documents filed with the SEC.
"Resources" are sometimes referred to as
"mineralization" or "mineral deposits." While
the terms "mineral resource", "measured mineral
resource", "indicated mineral resource" and "inferred
mineral resource" are recognized and required by Canadian
regulations, they are not defined terms under standards in
the United States and normally are
not permitted to be used in reports and registration statements
filed with the SEC. The terms "mineral reserve," "proven
mineral reserve" and "probable mineral reserve" are
Canadian mining terms as defined in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101") and the CIM - CIM Definition
Standards on Mineral Resources and Mineral Reserves, adopted by the
CIM Council, as may be amended from time to time by the CIM. These
definitions differ from the definitions in the United States Securities and Exchange
Commission Industry Guide 7 ("SEC Industry Guide 7") under
the Securities Act of 1933. Under Canadian rules, estimates of
inferred mineral resources may not form the basis of feasibility or
prefeasibility studies, except in rare cases. Disclosure of
"contained ounces" in a resource is permitted disclosure under
Canadian regulations; however, the SEC normally only permits
issuers to report mineralization that does not constitute
"reserves" by SEC standards as in place tonnage and grade without
reference to unit measures.
The estimation of measured, indicated and inferred mineral
resources involves greater uncertainty as to their existence and
economic feasibility than the estimation of proven and probable
reserves. U.S. investors are cautioned (i) not to assume that
measured or indicated resources will be converted into reserves and
(ii) not to assume that estimates of inferred mineral resources
exist, are economically or legally minable, or will be upgraded
into measured or indicated mineral resources. It cannot be
assumed that the Company will identify any viable mineral resources
on its properties or that any mineral reserves, if any, can be
recovered profitably, if at all. As such, information contained in
this news release and the documents incorporated by reference
herein concerning descriptions of mineralization and resources
under Canadian standards may not be comparable to similar
information made public by United
States companies in SEC filings.
Cautionary Statements. Certain statements found in this
release may constitute forward-looking statements as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements reflect the speaker's current views with
respect to future events and financial performance and include any
statement that does not directly relate to a current or historical
fact. Such statements reflect the current risks, uncertainties and
assumptions related to certain factors including, without
limitations, competitive factors, general economic conditions,
customer relations, uncertainties related to the availability and
costs of financing, unexpected geological conditions, success of
future development initiatives, the interpretation and actual
results of the Preliminary Feasibility Study, imprecision in
resource estimates, ability to obtain necessary permits and
approvals, relationships with vendors and strategic partners, the
interest rate environment, governmental regulation and supervision,
seasonality, technological change, changes in industry practices,
changes in world metal markets, changes in equity markets,
environmental and safety risks, and one-time events. Should
any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results
may vary materially from those described herein. Forward-looking
statements cannot be guaranteed and actual results may vary
materially due to the uncertainties and risks, known and unknown,
associated with such statements. Shareholders and other readers
should not place undue reliance on "forward-looking statements," as
such statements speak only as of the date of this release. Except
as required by law, Tasman disclaims any intention and assumes no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by applicable securities law.
SOURCE Tasman Metals Ltd.