CORRECTING and REPLACING Stans Energy Delineates New Mineralized Zone at Kutessay II
December 7, 2012 (Source: Businesswire) —
CORRECTION…by Stans Energy Corp
Please replace the release with the following corrected version due to added tables.
The corrected release reads:
STANS ENERGY DELINEATES NEW MINERALIZED ZONE AT KUTESSAY II
Stans Energy Corp (TSX-V: HRE, OTCQX: HREEF) (‘Stans’ or ‘The Company’) is pleased to report that it has received the assays for its 2012 exploration drilling program at Kutessay II.
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On August 10, 2012, the Company commenced its 2012 drilling program. The goal of the drilling was to evaluate the vertical extension of the rare earth mineralization (to the +2213 m level, Adit No.27) revealed in 2011 drilling to the west and northwest of what was referred to during Soviet times as the Central Ore Body, as well as along survey profiles No. VIII, X, XI, XII, XIV, XV, and to search for the continuation along the Kutessay II deposit flanks – to profile No. III in the north, and No. XX in the south.
By October 24, 2012, eleven diamond drill holes (Nos.Y022D011, Y022D012, Y022D013, Y022D014, Y022D015, Y022D016, Y022D017, Y022D018, Y022D019, Y022D020, and Y022D021) were drilled along deposit survey profile Nos. III, VI, VIII, X, XI, XIV, XV, XVIII, and XX. The drill holes lengths are 240.6 m, 295 m, 285 m, 310 m, 250 m, 230.2 m, 450 m, 27 m, 263.0 m, 300 m, and 210 m respectively, totaling 2,860.8 m. Spacing between the survey profiles ranges from 55 m to 75 m, and between the drill holes, from 45 m to 65 m.
Summary tables for the holes are listed below:
A detailed summary of all data points and hole schematics is available at: http://www.stansenergy.com/2012-kutessay-ii/
Hole D018 was stopped at a depth of 27m. It was replaced with Hole D019 which was then drilled to 263m.
Hole D014 did not intersect any mineralization above the cutoff grade.
The Total Rare Earth Oxide cut-off grade for Mineral Resource delineation is 0.1%
Dr Gennady Savchenko QP is the qualified person on the Kutessay II project under National Instrument 43-101 and is responsible for this news release. Material for analysis was obtained from drill core which was split using a diamond saw. Core description, sawing and sampling was performed at the drill site. In total, 290 linear-chip and 11,653 core samples (excluding blank samples and quality standards) were collected from the drill holes and analyzed by the laboratory. The analytical results were received in late November 2012 and were then compiled in the report on drilling.
The Information Research Centre LLC (IRC) (Kara-Balta, the Kyrgyz Republic), prepared and analyzed the samples. The laboratory is accredited by the United Kingdom Accreditation Service for ISO/IEC 17025:2005 international standard and by the National System Accreditation Center of the Kyrgyz Republic.
Atomic-emission analysis (ICP) was used to determine the concentration of oxides of 15 rare earth elements (Ce, Dy, Er, Eu, Gd, Ho, La, Lu, Nd, Pr, Sm, Tb, Tm, Y, Yb), as well as Be oxide, Со and Sc. The total number of elements defined is 18.
Robert Mackay, CEO and President of Stans Energy Corp reports, “These drilling results along with those from our 2011 drilling campaign will be incorporated into our feasibility study that has begun with the signing of the geotechnical survey contract that will determine the new mill and tailings pond location for the planned 1500 tons per year of rare earth oxide production.”
Effective January 1, 2013, Mr. David Vinokurov, Vice President of Corporate Development will be resuming responsibilities for the day to day Investor Relations program.
About Stans Energy
Stans Energy Corp. is a resource development company focused on developing Heavy Rare Earth (HRE) properties in the area of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP), the same plant that previously recovered and refined REEs from the Kutessay II deposit. The KRP was the only hard rock plant to produce all rare earth elements outside of China, including 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
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FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company’s general business development, research development and the company’s development of mineral exploration projects. When used in this press release , the words “will”, “shall”, “anticipate”, “believe”, “estimate”, “expect”, “intent”, “may”, “project”, “plan”, “should” and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
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