Rare Earth Metals Completes Letitia Lake/Red Wine Airborne Survey
THUNDER BAY, ONTARIO–(Marketwire – July 20, 2010) – Rare Earth Metals Inc. ("Rare Earth Metals", "RA" or the "Company") (TSX VENTURE:RA) is pleased to announce the completion of a 3621 line kilometre airborne magnetic and radiometric survey on its Letitia Lake/Red Wine property in west-central Labrador conducted by Aeroquest Limited of Mississauga, Ontario (see previous press release dated July 6, 2010).
The property is located 120 kilometres WNW from Goose Bay, Labrador, however, the Churchill Falls hydro dam access road is located 40 kilometres from the property. A 12 to 15 person camp has been established on the road and this is being used as a staging point for the field work.
The recently completed airborne survey measured total field magnetic intensity and horizontal gradient measurements, and radiometric data consisting of uranium, thorium, and potassium counts. Flight line spacing was 100 metres with the aircraft flying at 50 metres height.
Numerous high priority radiometric/magnetic anomalies have been isolated for follow-up, many of which are associated with known mineralized trends. The results of the survey include identification of 73 anomaly clusters, occurring over a total strike length of 51 kilometers across the claim group. These radiometric targets are comprised of discrete circular anomalies from 100 meters in diameter to broad irregular composite features up to 4500 meters in length and from 150 meters to 1500 meters in width and were prioritized using the magnetic and radiometric data in conjunction with topographic and geological maps. This airborne survey is being followed by an intensive field program comprised of prospecting the target sites, geological mapping, lithogeochemical sampling and channel sampling. Samples are being submitted for rare earth element, beryllium and niobium analysis. To date 130 samples have been submitted to the lab and initial results are expected by the end of July.
Channel sampling and geological mapping is also continuing on several of the previously reported rare metal showings encompassed in the claim group. (See previous press release dated July 6, 2010). To date, three of five trenches on the Mann#1 deposit have been channel sampled and a total of 97samples have been submitted for analysis. Preliminary field mapping has delineated REE/Nb/Be radioactive zones over widths up to 60 meters over a strike length of 500 meters. The new airborne data has defined this same zone as a strong radioactive anomaly with a 2000 meter strike length. The survey has also enhanced the other known showings on the RA claims, for example the anomaly which hosts the Michelin#1 showing is 2000 meters long, and the anomaly which hosts the Mann#2 showing is 3000 meters long.
The Letitia Lake/Red Wine District is a 60 km long arcuate belt of per-alkaline volcanic and intrusive rocks which hosts a number of significant Rare Earth Element/Niobium/Beryllium/Zirconium prospects which have seen little or no work since the early 1960's. The geological setting is analogous to the Strange Lake per-alkaline belt which hosts the Strange Lake Rare Metal deposits including Quest Rare Minerals' newly discovered B-Zone. RA owns or has optioned a total of 816 claim units (Please note this a correction on the previously reported 1295 claim units in press release dated July 6, 2010) in the Letitia Lake/Red Wine belt and the land package covers most of the previously known showings.
Wayne Reid, PGeo, is a qualified person as defined in National Instrument 43-101, and has reviewed and approved the technical information forming the basis for release.
About Rare Earth Metals Inc.
Rare Earth Metals is a well funded company with a focus on exploring for Rare Earth Element deposits. The company presently has three advanced projects in Ontario and Newfoundland and Labrador, all exhibiting multi element potential (REEs, Niobium, Beryllium and Iron Ore) and proximity to available infrastructure. Its flagship property is the Clay-Howells Prospect. Additional information concerning the Corporation is contained in documents filed by the Corporation with securities regulators, available under the company's profile at www.sedar.com. Investors are invited to visit the Rare Earth Metals web site at www.rareearthmetals.ca.
ON BEHALF OF THE BOARD OF DIRECTORS OF RARE EARTH METALS INC.:
Michael Stares, President and CEO
This release includes certain statements that may be deemed forward-looking statements. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's filings that are available at www.sedar.com.
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."