QUANTUM Samples 3.32% TREO and Confirms Zones of Parallel Mineralization at Archie Lake
February 16, 2011 – Vancouver, B.C.: Quantum Rare Earth Developments Corp. (TSX.V – QRE, FSE – BR3, OTCQX – QREDF) (“Quantum”, the “Company”) is pleased to announce results for the 2010 exploration of the Archie Lake Rare Earth Project, located in northern Saskatchewan. Prior exploration at Archie Lake identified a rare earth bearing meta-sedimentary horizon up to 6 m across, near-vertical, approximately 600 m along strike, and with peak grades of 29.9% TREE (see July 6, 2010 News).
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The 2010 exploration included a high resolution airborne magnetic (HRAM) and radiometric survey, property-wide prospecting and sampling, and surface sampling along the northerly strike extension of the known mineralized horizon. Highlights from the 2010 exploration include:
- confirmation of the geophysical signature associated with the rare earth element (REE) bearing horizon, and identification of new target locations;
Phase II involved ground checking several of the new targets generated from the recent airborne survey, conducting a ground geophysical survey, geologic mapping, and sampling of the remaining trenches in order to verify the full 600 m extent of the ‘historical’ mineralized horizon. A total of 105 rock samples were collected across the property.
Two remaining historic trenches, not evaluated in 2009, were located and sampled along with a third trench with no historic record. Samples returned multiple TREO grades greater than 1% to a peak value of 3.32% TREO. In addition, an outcrop located a further 35 m northwest of the aforementioned trenches returned 2.50% TREO. The 2010 exploration confirms a known strike length of the mineralized horizon of approximately 550 m.
To the northwest of the mineralized trend, the Beaver River Fault appears to truncate and offset the mineralization, several hundred metres to the east, as assessed via air photos and magnetic data. Sample 75086 returned anomalous mineralization (0.64% TREO) in a location where the mineralized horizon would be expected to continue north of the fault. The sample contains coarse-grained Ilmenite, which is associated with monazite within the historic trenches. This area is a high-priority target for follow-up exploration, and confirms additional potential strike length for the mineralized horizon, beyond the historic mineralization.
In addition, geophysical targets located approximately 500 m west and 3 km north-northwest of the historic trenches returned anomalous mineralization up to 0.56% TREO (75654) and 0.73% TREO (28038) respectively. These grades are significant and will be further evaluated during the next field program. In addition, these two areas are coupled with anomalous pathfinder geochemistry (Ti, U) further supporting the anomalous REE nature of these locations.
All of the 2010 samples were sent to the Saskatchewan Research Council Geoanalytical Laboratories, Saskatoon, SK for analysis using the packages REE-1 and WR1 (REE and whole rock by lithium metaborate fusion and ICP-OES), and Multi-Element analysis (trace and base metals by aqua regia digestions and ICP)
Further mapping and sampling is planned for spring and summer months 2011. A first ever drill program to test the historic and newly discovered areas of REE mineralization is expected to commence as early as Q2 2011 designed to assess the extent of the REE mineralization at depth below the historic trenches.
Darren L. Smith, M.Sc., P.Geol., a qualified person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.
On Behalf of the Board,
For further information, contact Peter Dickie, President and CEO of the Company at (604) 669-9330.
“Neither 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."
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