Dines will plug it. Look at the connection with RES.
Dr. William Bird of Medallion reports
RARE ELEMENT AND MEDALLION EXPAND EDEN RARE EARTH CLAIMS
MedallionResources Ltd. and Rare Element Resources Ltd. have significantlyexpanded their Eden Lake rare-earth-element property in Western Manitobaby staking six additional mineral claims. Medallion is exploring theEden Lake property under a joint venture option agreement with RareElement that gives Medallion the right to earn a 65-per-cent interest.
As reported earlier, the current exploration program is focused onmapping and sampling surface areas of REE-bearing mineralized andfenitized syenite and related REE-bearing rocks. Recent 2010 explorationand re-evaluation of past data have significantly enlarged theprospective area of this type of mineralization, which has a potentialfor cost-effective surface-mining techniques.
The new claims cover a southern extension of the surface exposure ofthis REE-bearing rock and total 1,329 hectares. Also claimed is thelocation of a magnetic anomaly that was discovered by the airbornegeophysical survey conducted for Medallion by Aeroquest in December,2009. The Eden Lake property now comprises 14 contiguous claims for atotal of 3,200 hectares, or 32 square kilometres.
Dr. Bill Bird, Medallion's president, commented: "Our goal is todiscover large-tonnage neodymium or heavy rare-earth deposits that areeasily processed and occur in low-cost mining and milling venues. OurEden REE project has the potential to meet these criteria. We haveincreased our land position to cover all prospective ground."
Medallion also explores over 42 square kilometres of the Red Wineperalkaline intrusion in southern Labrador under an agreement to option a100-per-cent interest in six mineral licences (subject to a 3-per-centroyalty). The portions of the Red Wine intrusion that are covered by thesix licences are known to host the mineral eudialyte, which containselevated values of the heavy REEs.
Dr. Donald E. Ranta, PhD, PGeo, serves the Rare Element board ofdirectors as an internal, technically qualified person. Technicalinformation in this news release has been reviewed by Dr. Ranta and hasbeen prepared in accordance with Canadian regulatory requirements thatare set out in National Instrument 43-101.
We seek Safe Harbor.