US-Sourced Rare Earths Underway

U.S. Rare Earths, Inc., (USRE) announced yesterday that surface rock sampling conducted in the fourth quarter 2011 at its Idaho and Montana properties near Lemhi Pass and North Fork Idaho, along with results from sampling in 2009 and 2010 indicate the presence of Total Rare Earth (TRE) ranging as high as 26 percent.

“The analytical results from ACT Labs, Canada – along with the aero-mag we flew after acquiring these properties will shape our 2012 Drill Program,” said Greg Schifrin, chief operating officer.

TRE findings at the North Fork Project ranged from 1-10 percent at the Radiant Claim, 1-26 percent at the Cardinal Claim, 1-9 percent at the Silver King Claim, 1-10 percent at the Lower Lee Buck Claim, 1-8 percent at the Diamond Creek Project and 1-18 percent at the Sheep Creek Project.

“The concentrations of TRE present from our rock sampling are substantial and present potential for a significant discovery,” said Michael D. Parnell, chief executive officer. “As one of the two large U.S. reserves listed in the Department of Energy’s (DOE) Critical Materials Strategy Report, our rare earth properties could help supply the projected demand of the United States military and civilian green industries, thus assisting in eliminating the dependence the United States currently has on foreign sources,” added Parnell.

In 2011, USRE announced the acquisition of the Idaho and Montana properties as well as the additional staking of 8,000 acres in and around the Lemhi Pass District and North Fork.

U.S. Rare Earths’ properties in Idaho and Montana including Lemhi Pass have been recognized in the U.S. Department of Energy’s Critical Materials Strategy publication to have significant showings of Heavy Rare Earth Elements, in particular for the five Rare Earths identified by DOE as being at “Critical Risk”: Dysprosium, Europium, Neodymium, Terbium and Yttrium.

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  • Roy_H

    I thought there were already several rare earth mines in that area, as well as other locations in the US. I believe they were shut down because of increasing stringent environmental impact rules and competition from China. I trust these environmental laws are now reasonable, that is to prevent damage to the environment but not getting so paranoid about thorium content which is very mildly radio-active. The extremely low radio-activity is lower than the radiation received from the sun.

  • AP

    Roy_H, I agree, but rational argument won’t stop the crazies.

    Way back when, right after the Three Mile Island accident, my physics professor attended a conference to discuss the consequences and learnings from the accident.

    When he met Jane Fonda, who was there to protest nuclear power, he asked her how she got to the conference. She said she flew. Then he told here that she had been exposed to more radiation by the (high altitude) flight than anyone from Three Mile Island.

    Of course that didn’t change her opinion.