Stans Energy Receives Extension of Aktyuz Exploration Licence
June 24, 2013 — Toronto, Ontario (Source: Business Wire) — Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans Energy” or the “Company”), is pleased to report that the State Agency for Geology and Mineral Resources of Kyrgyzstan (“SGA”) has provided an extension to the Company’s exploration licence for the Aktyuz Licence Area.
In November 2011, Stans Energy submitted all of the necessary documentation to request an extension of its exploration licence for the Aktyuz Licence Area, which surrounds the Kutessay II rare earth project. Regrettably, the routine approval of the extension was not granted and the numerous requests to the SGA to address the issue were ignored.
The court ruling in favor of Stans Energy by the Inter-district Court of Bishkek on May 20, 2013 confirmed that the Company’s repeated requests to the administration of the SGA were ignored, and that a decision was legally required by the SGA on the extension of exploration licence for the Aktyuz Licence Area. Subsequently, the SGA has formally renewed the Company’s exploration licence through December 31, 2015.
“Management is extremely pleased to receive the extension for the Aktyuz Licence Area. This is an integral part of the land package surrounding Kutessay II and is a promising exploration area for additional rare earth mineralization,” states Robert Mackay, President and CEO.
The Aktyuz Licence Area is comprised of over 50 mineralized zones hosting rare earths, including the historic mineralized occurrences, Kutessay I, Kutessay III, Aktyuz and Kuperlisai. The Aktyuz Licence Area has a lengthy history of mining and was first mined for lead in the 9th through to the 12th century. Underground mining for various base metals was conducted from 1942 to 1946 until rare earth elements were encountered. The Aktyuz Licence Area saw limited underground mining for rare earth elements from 1946 to 1951, before Kutessay II was put into production. Based on historical surface exploration, additional rare earth element targets were outlined. Stans Energy started the evaluation of this historical information and conducted extensive exploration programs through 2010 – 2011 to determine the actual rare earth element potential of the Aktyuz Licence Area.
About Stans Energy
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Stans Energy Corp. is a resource development company focused on advancing Heavy Rare Earth (HRE) properties in areas of Central Asia and Russia. 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 from Kutessay II ores. 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.
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>