Ucore Rare Metals (CVE:UCU)(OTCQX:UURAF) announced today the maiden NI 43-101 compliant resource estimate for its Bokan Mountain rare earths element project in Alaska.
At a cut-off grade of 0.5% total rare earth oxide (TREO), the project is estimated to host an inferred mineral resource of 3.7 million tonnes grading 0.75% TREO, with 39% of the TREO comprising the higher value heavy rare earth oxides. That equates to 60.3 million pounds of contained TREO.
"Ucore is now positioned as the 100% owner of America's only primarily heavy rare earth enriched deposit with an NI 43-101 compliant resource," said CEO Jim McKenzie.
Heavy rare earths such as dysprosium and terbium are critical materials that the U.S. requires to effectively compete, especially in the defense, high technology and clean energy arenas.
The Bokan resource begins at surface and is open both at depth and to the east, Ucore said.
The company also noted that mineralogical and metallurgical research is underway to add to an upcoming scoping study of the deposit.