Rare Element Resources Ltd. (TSX: T.RES, Stock Forum) (NYSE: REE, Stock Forum) has filed a NI 43-101-compliant technical report that contains more detailed information regarding a recently announced increase in measured and indicated rare earth resources at its Bear Lodge property in Wyoming, U.S.A.
Rare Element says its wholly-owned Bear Lodge property contains one of the largest disseminated rare-earth element deposits in North America, as well as extensive gold occurrences.
The report incorporates more than 57,000 feet of exploration and development drilling completed in 2012, the company said in a press release.
Rare Element shares rose 1.1% Friday to $1.88, leaving the company with a market cap of $84.5 million, based on 50 million shares outstanding. The 52-week range is $5.45 and $1.70.