Stans Energy Receives Approval for Kyzyluraan Licence
June 27, 2014 (Source: BusinessWire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”) is pleased to announce that the State Agency for Geology and Mineral Resources of the Kyrgyz Republic (“SGA”) has approved the first Company submission to separate the Kargysh mineralization zone from its Kyzyluraan Field Prospecting Licence.
The SGA issued the Stans Energy KG license for subsoil use within the Kargysh Ore Occurrence of the Kyzyluraan area for geological exploration of vanadium, molybdenum and uranium for 3 years until June 16, 2017. The size of the new Exploration Licence Area is 701 hectares.
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The second Company submission to the SGA is to reduce the size of its Kyzyluraan Field Prospecting Licence from 252.82 sq. km to 124.19 sq. km is still under SGA consideration. This would substantially reduce the annual licencing fees paid by the company to the SGA. Once this submission is approved the Company will issue an update outlining the savings.
Kyzyluraan is one of the original licences held by Stans Energy Corp since 2007. Initially, the intent of exploration was to determine uranium content. However, subsequent geological examination and metallurgical testing has indicated that vanadium, molybdenum and rare earth elements are also occurring throughout the mineralization at the site. Confirmation geological and metallurgical testing is ongoing.
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas 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 refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 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.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>