Tantalus Rare Earths AG

  • WKN: A0SMSL
  • ISIN: DE000A0SMSL4
  • Land: -

Nachricht vom 09.02.2010 | 08:55

TANTALUS RARE EARTHS AG PUBLISHES PRELIMINARY ASSAY RESULTS - UP TO 31% REO


Tantalus Rare Earths AG / Miscellaneous

09.02.2010 08:55

Dissemination of a Corporate News, transmitted by
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TANTALUS RARE EARTHS AG PUBLISHES PRELIMINARY ASSAY RESULTS - UP TO 31% REO

Dusseldorf, Germany, February 9th, 2010 - Tantalus Rare Earths AG
('Tantalus' or the 'Company') is pleased to announce the first preliminary
assay results of their massive sampling campaign conducted between
September and December 2009. Preliminary assay results show up to 31% of
total rare earth oxides, which are spectacular grades.

The 300 km² sized concession area is situated on the Ampasindava Peninsula,
Antsiranana Province in northern Madagascar. The concession area is
underlain by two Tertiary alkaline ring complexes that intruded into
Jurassic sediments.  The mineralization so far known is hosted by a series
of alkaline granitic vein systems dipping with 15 to 50  and related
skarns. Between 1988 and 1991, a Soviet geological team conducted an
extensive field survey along a 2 km long part of the mineralization. For
this section alone, a historic, non-JORC/NI43-101 compliant resource of
approximately 15 million tons @ 1.52% REE equivalent has been estimated,
given the current market prices, the estimated in-ground value comes to USD
1.5bn. An earlier sampling campaign by Tantalus confirmed the original
Soviet grades.

On behalf of the Company, Fugro Airborne Services carried out a
high-precision, helicopter borne radiometric and magnetic survey. The data
has been thoroughly analyzed and interpreted by K.P. Knupp, Earthmaps
Consulting, Namibia.  Besides the tectonic-geological interpretation which
has given a better understanding of the concession area, three distinct
radiometric anomalies of 12 km, 4 km and 2.7 km respective length and
maximum width of 700 m have been mapped. These anomalous zones are composed
of individual anomalies totaling over 30 km in strike length.  Over the
whole strike length these anomalies are regarded as highly prospective for
REE mineralization.

During the period from September to early December 2009, the anomalies were
systematically surveyed and sampled by Tantalus' geological teams. Up to
now, visible REE mineralization hosted by alkaline granites and related
skarns could be detected over 20 km strike length. The new mineralized
zones are more massive than the mineralization originally described by the
Soviets. For example, some 2 km north-west of the known mineralization, ore
boulders weighing some 150 to 200 t, have been discovered.

The western part of the southern alkaline ring complex, the so-called
Ampasibitika intrusion, is particularly poor in outcrops. Therefore, two,
2- 3 m deep trenches, each 100 m long, were excavated on a weak radiometric
anomaly. The 5 m long channel samples returned spectacular results. Up to
now, only 5 of 40 preliminary assay results have been received:


Sample                           Total of REO in %
TANT2-477053                     31,09
TANT2-477059                     9,16
TANT2-477067                     16,40
TANT2-477068                     2,95
TANT3-477076                     3,06


In both trenches only the clay layer derived from the weathering of the underlying quartz syenites was channel sampled. On a world wide scale, REE bearing clays, so-called ion adsorption clays, are the single most important source for the sought after heavy rare earth elements. So far, they are only mined in southern China, where the REE grades are much lower, (< 1%). Comparable high REE grades can form by tropical weathering (lateritization) of suitable bedrocks. The advantages of these REE bearing clays are inexpensive mining methods, easy extraction of REE and very high recovery grades of up to 99%. Up to now it is estimated that these REE bearing clays cover an area of well over 1 km² on the concession area. More detailed sampling could, however, reveal that the mineralized area is indeed much bigger. First soil sample results in the outcrop-poor west of the concession have returned preliminary grades ranging from 0.29 to 0.96% TREO (total rare earth oxides). These are outstanding results for soil samples and this underlines the regional potential for more widespread clay hosted REE mineralization. The samples have been submitted to OMNIS Laboratories, Madagascar. After sodium borate fusion and acid digestion, the amount of total rare earth oxides has been determined gravimetrically. All samples of the 2009 exploration campaign have been additionally submitted to ALS Chemex Laboratories in Johannesburg and Vancouver. These results are pending and expected later this month. The ALS Laboratory Group, the parent company, is a leading provider of assaying and analytical testing services for mining and exploration companies with offices around the globe. The standard procedure is lithium borate fusion, followed by acid digestion and ICP-MS. Every batch contains 5% of duplicates, standards and blanks. Earlier results by the Soviet geological mission and own analyses have shown that the Tantalus ore contains besides rare earths, appreciable amounts of tantalum oxide (210 ppm), niobium oxide (1900 ppm) and zirconium (some 2 %). According to the present knowledge, the ratio of light to heavy rare earths is between 80/20 % to 67/33% which is very favorable when compared to other projects. Uranium and thorium grades are low, below 0.1 % for Th and 0.01 % for U. This again is very favorable as it decreases the negative environmental impact and reduces ore processing costs. Tantalus is continuing with its set exploration schedule. A massive 40,000m drill program, consisting of RC and diamond drilling, will deliver important results which are expected in the course of 2010. Currently, the Company is finishing important infrastructure improvements on its property, including the construction of access roads and bridges. Construction will be finished in March 2010 and drilling will start in April 2010 For further information, please visit www.tre-ag.com About Tantalus Rare Earths AG The mission of Tantalus Rare Earths AG is the identification and development of rare earth exploration and mining projects outside from China, mainly focusing on Africa. Administratively, Tantalus Rare Earths AG is located in Düsseldorf, Germany. Currently, the investment portfolio consists of 100 % of the Tantalus Rare Earths Project in Madagascar. Tantalus Rare Earths AG Berliner Allee 12 40212 Düsseldorf Deutschland T: +49 (0)211 52391 430 F: +49 (0)211 52391 200 e-Mail: contact@tre-ag.com Internet: http://www.tre-ag.com/ 09.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------

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