Ram Resources' (ASX: RMR) key proejct is the Motzfeldt multi-element project in Southern Greenland, which is targeting rare earths. The company is also moving to acquire the Fraser Range Project in the Albany-Fraser Orogen of Western Australia.
Ram Resources (ASX: RMR) has defined an initial JORC Inferred Resource for the Aries prospect, part of the Motzfeldt Project in south Greenland.
The total Inferred Resource is 340 million tonnes at 120 parts per million tantalum, 1,850 parts per million niobium, 4,600 parts per million zirconium and 2,600 parts per million total rare earth oxides (TREO).
This Resource has been estimated to produce contained metal of nearly 1.6 million tonnes of zirconium, 884,000 tonnes of TREO, 629,000 tonnes of niobium and 41,000 tonnes of tantalum.
The Inferred Mineral Resource correlates well with the previously announced exploration target of 200 to 500 million tonnes at 1,800 to 2,200 parts per million niobium, 130 to 160 parts per million tantalum and 3,000 to 5,000 parts per million TREO.
James Lumley, executive director, commented:
“This Resource Statement is a major milestone for Ram, which has proved significant mineralisation at Aries.
“The Aries project has the potential to become a notable zirconium project in the world market, with contributions from tantalum, niobium and rare earth elements.”
While the zirconium has presented itself as the main focus, all of the mineral products can contribute to the economics of the project and diversify the commodity risk.
Further upside at the project is derived from the potential to increase the Aries Resource, particularly to the south.
Surface and cliff sampling results demonstrate the continuation of mineralisation along strike and possible repetition in overlying layers to the east.
There are also signs of similar grades at the western extent of the surface sampling at Aries.
Highlighting the high grades being returned from Aries, previous notable intersections returned earlier this year include:
- 57 metres at 2,113 parts per million niobium, 213 parts per million tantalum, 2,196 parts per million TREO and 6,052 parts per million zirconium; and
- 44 metres at 2,067 parts per million niobium, 246 parts per million tantalum, 4,900 parts per million TREO and 9,475 parts per million zirconium;
- 50 metres at 2,246 parts per million niobium, 265 parts per million tantalum, 3,163 parts per million TREO and 7,341 parts per million zirconium.
Grades of potentially economic interest for niobium, tantalum and rare earth elements were confirmed in all three holes from near surface.
Further defining the Aries Prospect’s potential is that the 2011 drilling program confirmed mineralisation some 300 metres to the north and northwest of previously drilled areas.
The area of the mineralised zone now covered by drilling extends 600 metres from north to south and 250 metres east to west.
Ram now plans to extend its drilling program along the strike and at depth to build on the Aries Resources.
The company will also undertake mineralogical and metallurgical studies, as well as another phase of drilling.
The Motzfeldt Project is located 24 kilometres east of the town of Narsaruaq in Greenland, 60 kilometres northwest of Greenland Minerals & Energy’s (ASX: GGG) Kvanefjeld Project.
Kvanefjeld has a total resource of 619 million tonnes with 6.6 million tonnes total rare earth oxides, 350 million pounds of uranium and 3 billion pounds zinc.
Ram Resources currently holds a 51% interest in Motzfeldt, with the option to earn up to 100% through the acquisition of UK company Greenland Resources, which holds the remaining 49%.
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