Texas Rare Earth Resources Announces Major In-House Metallurgical Findings
March 27, 2013 (Source: Marketwatch) Sierra Blanca, TX — Texas Rare Earth Resources Corp. (OTCQX: TRER) (“Texas Rare Earth”), a heavy rare earths exploration company, is pleased to announce that in-house research on the mineralogy, geochemistry, and kinetics of direct acid leaching indicates that this simple process is effective in removing target heavy rare earth elements from coarse grains of Round Top rock. These continuing studies are defining the conditions under which approximately 150 grams per liter (15%) strength sulfuric acid successfully penetrates the grains and dissolves the valuable rare earth-containing minerals that are disseminated throughout the rhyolite host rock. Estimated recoveries into solution of the target heavy rare earths consistently exceed 80%. If the further technical results and economics of the leach process prove favorable, the combination of open pit mining and heap leaching could significantly decrease capital and operating costs for a heavy rare earth facility. This approach is in the process of being confirmed by independent third-party consulting laboratories and will be released upon completion.
Dan Gorski, CEO, commented “This research indicates that the porosity and permeability of the Round Top rhyolite coupled with the favorable solubility characteristics of the REE minerals holds potential for heap leaching at Round Top. We will continue to investigate this alternative REE extraction approach by trying to optimize the particle size, time, acid strength and solution management to develop a heap leach economic model for this deposit.”
Texas Rare Earth Resources Corp.’s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company’s common stock trades on the OTCQX U.S. tier under the symbol “TRER.” For more information on Texas Rare Earth Resources Corp., visit its website at www.trer.com.
Forward-Looking Statements This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding possible simple sulfuric acid leaching processing at our Round Top project, the combination of open pit mining and heap leaching significantly decreasing capital and operating costs, confirmation of heap leaching process by third parties, and release of third party results. When used in this press release, the words “potential,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if, “anticipate,” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks related to changes in future operating costs and working capital balance, risks related to mineralogy processes, risks related to mineral estimates, risks related to the inherently dangerous activity of mining, as well as those factors discussed under the heading “Risk Factors” in the Company’s latest annual report on Form 10-K, as filed on November 15, 2012, and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.