THE SECRET OF FUTURE SUCCESSis in the PROPERTIES !
The Clay-Howells Property
The Clay-Howells Property consists of 45 patented claims (mining and surface). The property hosts the Clay-Howells prospect which is described as a massive to semi-massive magnetite zone hosted within the Clay-Howells Carbonatite Alkali Complex. Drilling in 1958 is reported to have defined a significant magnetite iron deposit up to 1050 meters long,90 meters wide and to a vertical depth of at least 300 meters. Partial core from four of these holes was located at the Ontario Government core
library in Timmins. Re-sampling of this drill core by REM in August 2009 has confirmed the presence of Rare Earth Elements throughout the deposit and includes high grade intersections up to 5.30% Rare Earth Oxides (REO) and 0.241% Y2O3 over a core interval of 4.6 meters in hole 23 and wider intersections of 1.06 % REO over 25.9 meters in hole 20. A breakdown of the high grade intersection in hole 23, shows approximately 93% of the REO is represented by the light Rare Earths with the other 7% representing the Heavy Rare Earth's plus Yttrium. Only partial drill core was available at the government core library, however the drill core representing the above intersections was well marked and complete enough for the composites listed and support the theory that the Clay-Howells Property is highly prospective for defining both a large tonnage lower grade Rare Earth Oxide (REO) deposit containing sizable higher grade zones. The prospect has been shown to contain light and heavy rare earths and yttrium throughout most of its one km strike length. The massive magnetite host may also produce an attractive concentrate which could have a significant economic impact on the project. The property hosts a number of other discrete magnetic highs and a tight spaced airborne magnetic and radiometrics survey is planned prior to initiating a detailed drill program this winter.
The initial exploration program will include the airborne survey, a 10,000 meter definition drill program targeted on the Clay-Howells prospect and an additional 3,000 meters budgeted for other magnetic targets. This program is expected to be carried out during the fall and winter and is budgeted at $2,300,000. A second phase of drilling and metallurgical work is tentatively budgeted at $5,400,000 and is expected to follow, once the initial results have been evaluated and a detailed drill plan is
formulated to define the geometry and grade of the Clay-Howells prospect.
The Lackner Property
The Lackner property consists of 105 unpatented claim units covering a portion of the Lackner Lake Carbonatite Complex. The claims host a REE showing within nepheline syenite dykes and breccias. Best values from prospecting included 7.49 % REE from bedrock at the Pole Lake South Zone. The REE discoveries in this area were made as the result of Uranium prospecting using a scintilometer for targeting. Where exposed, the high grade REE zone exhibits strong radioactivity as it is associated with thorium and uranium mineralization. An airborne magnetic and radiometric survey will be completed this fall with follow-up sampling and trenching slated for late fall. A tentative budget of $1,300,000 is proposed to complete the airborne and a first phase of target testing over the next 12 months.
do your own due diligence
herb