U.S. Rare Earths, Inc., a rare earths exploration company, will expand its drilling and exploration at its Last Chance Mine property, along a mining belt from east-central Idaho and west-central Montana. UREE will also initiate a new drilling and exploration program at its North Fork property in an area around Lemhi County, Idaho
, previously unmapped and undrilled.
The company said it “broadened its mining claims to more than 25,000 acres as a result of its very successful 2013 drilling and exploration program. Surface channel sample assays from the initial 2013 Phase I North Fork exploration efforts identified significant grade percentages of Critical Rare Earth Oxides dysprosium, terbium, europium, neodymium and yttrium, and Total Rare Earth Oxides.”
“The Last Chance Mine property, located near the mining belt of east-central Idaho and west-central Montana, is uniquely positioned for re-entry and development of a processing facility to create great American jobs,” company officials said. “Continuing exploration is focused on upgrading other historic data and defining new areas located throughout the trend in advance of mining and development of our separation mill.” The company also plans significant exploration in the North Fork area of Idaho.
Rare Earths CEO Kevin Cassidy said, "Building on our positive Phase I drilling and exploration results, which have been independently verified, we continue to execute our stated business objectives. The results confirmed that our properties have high concentrations of REOs and specifically Critical Rare Earth Oxides.”
“The Lemhi Pass area is located within the continental U.S. and perfectly positioned to supply U.S. critical rare earth demand. Our properties are not on a remote island, in the Alaskan or Canadian tundra, and certainly not in remote regions of the globe, where logistics and government policies make current rare earth mining efforts highly unfavorable,” he said.
“At a basic level, we intend to further capitalize our resource rich properties by creating U.S. based intellectual property for REO separation and production in an environmentally friendly way. Our goal remains to provide a full supply chain solution which will create intellectual property within the U.S. thus leading to the creation of American jobs, independence and sustainability for the production of critical rare earths."