Search Minerals’ Greg Andrews provides an update on the critical rare earths district of South East Labrador
Recently during PDAC 2019, Greg Andrews, President, CEO and Director of Search Minerals Inc. (TSXV: SMY), shared Search Minerals’ competitive advantages in the rare earths sector with InvestorIntel’s Tracy Weslosky.
Greg said: “One thing that puts Search above some of the other projects is we have a technology that allows us to be a low cost. So, for a 1000 tons per day of production, that’s $152 million (CAPEX), which we have always worked to make sure that that’s a financeable number. Our product is scalable so we can start with a 1000 tons a day go to 2000 and grow up instead of having to spend a large capital and have a large capital base that needs to be paid for with large production rate.”
Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Port Hope Simpson Critical Rare Earth Element (CREE) District of South East Labrador (the District). The Company controls a belt 70 km long and 8 km wide including its 100% interest in the FOXTROT Project, which is road accessible and at tidewater. Exploration efforts have advanced “Deep Fox” and “Fox Meadow” as significant new CREE prospects very similar to and in close proximity to the original FOXTROT discovery. While the Company has identified more than 20 other prospects in the District, its primary objective remains development of FOXTROT.
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Disclaimer: Search Minerals Inc. is an advertorial member of InvestorIntel Corp.