NI 43-101 technical report filed for Area 4 of Lofdal Project
- NI 43-101 compliant mineral resource estimate for Area 4 delivers exceptional levels of heavy rare earth enrichment
- 0.90 MMT@ 0.62% TREO with 86% heavy enrichment (Indicated) and 0.75 MMT @ 0.56% TREO with 85% heavy enrichment (Inferred) using 0.3% cut-off
- Low grade cut-off of 0.1% TREO provides 2.88 MMT @ 0.32% TREO with 76% heavy enrichment (Indicated) and 3.28 MMT @ 0.27% TREO with 75% heavy-enrichment (Inferred)
- Resource currently drilled to 150 vertical meters - open at depth and along strike
Halifax, Nova Scotia, October 30, 2012 - Namibia Rare Earths Inc. (“Namibia Rare Earths” or the “Company”) (TSX:NRE) has filed a National Instrument 43-101 (“NI 43-101”) compliant resource report (the “Report”) for the heavy rare earth enriched deposit in Area 4 on the Lofdal Rare Earth Project in northwestern Namibia (Figure 1). As previously announced by the Company on September 19, 2012, the mineral resource exhibits exceptional levels of heavy rare earth enrichment(“HREE”) of between 75% and 93% HREE depending on cut-off grade with corresponding total rare earth oxide grades (“TREO”) ranging from 0.27-1.26% TREO. The resource drilling program has provided a mineral resource estimate extending from surface to a vertical depth of approximately 150 meters. Ongoing exploration drilling has however, intersected the deposit to vertical depths of 250 vertical meters (Company press release July 17, 2012).
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OM / Senior Executive Assistant
NAMIBIA RARE EARTHS INC.
Suite 306, Royal Bank Building
1597 Bedford Highway
Halifax, NS, B4A 1E7 Canada