EDITOR: | May 21st, 2013

Peak Resources: First High Purity Rare Earth Products For Assessment

| May 21, 2013 | No Comments
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Peak-Resources-LtdMay 21, 2013 (Source: Peak Resources) — Peak Resources Limited (Peak; ASX: PEK; OTCQX: PKRLY) is rapidly progressing the development of its 100% owned Ngualla Rare Earth Project in Tanzania. Ngualla is on track to become the next major rare earth supplier with high grade mineralisation and a simple, proven metallurgical process supporting a low cost operation.

Peak is pleased to announce the completion of a significant milestone with the production of two refined rare earth products at ANSTO Minerals (Australian Nuclear Science and Technology Organisation) that are in saleable form and available for evaluation by target customers.

The work includes the first of four separated high purity rare earth oxide products from the Solvent Extraction (SX) Pilot Plant now in operation at ANSTO.

Highlights:

The rare earth products completed to date are:
• An ultra-high purity (99.9%)* mid and heavy rare earth oxide (M+HREO)
• A high purity (>99%)rare earth carbonate with a grade of 56% REO

These samples are now available for evaluation by target customers The SX Pilot Plant work is progressing well with three additional separated rare earth oxide samples to be produced successively over the coming months. A high purity didymium oxide (a neodymium – praseodymium mix) sample is expected in June, followed by cerium oxide and finally a lanthanum oxide.

*Assays by weight excluding water and volatiles (LOI)

The successful production of a separated high purity rare earth oxide from a bulk sample of mineralisation places Ngualla amongst a select few projects to have achieved this milestone. The ability to produce separated high purity rare earth oxide adds significant value to the project and allows access to wider markets for Ngualla’s products.

Peak’s Chairman, Alastair Hunter said “The successful production of these products of such high quality is an achievement very few other companies have made and we
are hopeful they will exceed the expectations of any future off take customers. This work is well within the required specifications and demonstrates Peak’s commitment to drive the development of the Ngualla Project forward.”

Click here to see the full release.


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