Texas Rare Earth Resources Defines Heavy Rare Earth Mineralogy and Discloses Initial Leaching Characteristics of Round Top Deposit
March 20, 2013 (Source: Globe Newswire) —
Yttrium recoveries as high as 94% as tested by independent lab
Mineralogy suggests possible, simple sulfuric acid leaching process
Texas Rare Earth Resources Corp. (OTCQX:TRER) (“Texas Rare Earth”), a heavy rare earths exploration company, is pleased to announce that testing done at Hazen Research Inc of Golden, Colorado has identified Yttrofluorite as the primary Rare Earth Element (REE) bearing mineral in samples provided by TRER from the Round Top Deposit. More significantly, this mineral also carries the majority of the high commercial value Heavy Rare Earth Elements (HREE). Yttrofluorite, due to its relative ease of dissolution in sulfuric acid as demonstrated in laboratory tests at Hazen, offers a distinct economic advantage over other less reactive HREE minerals.
QEMSCAN analysis at Hazen Research Inc has tentatively identified the primary REE bearing minerals in the Round Top deposit as Yttrofluorite (0.06 wt%), Bastnäsite (0.01 wt%), Xenotime (<0.01 wt%), and Monazite (<0.01 wt%).
Dan Gorski, CEO, stated: “One of the most important factors that determines the production costs of a rare earth deposit is the mineral that contains the REE and its ease of processing. We are pleased to have preliminary confirmation that the HREE mineral present at our Round Top project is likely amenable to simple processing. The potential of higher recovery rates than as cited in our June 2012 Preliminary Economic Assessment (PEA) bodes well for future capital costs and hence potential economic viability of our Round Top project.”
Preliminary leach tests that have been run on whole ore samples at Hazen have yielded yttrium recoveries as high as 94% at 90-95°C at a sulfuric acid strength of 100 gm/liter (approximately 10%). Recoveries of other REEs are pending analysis being done at Actlabs in Canada and results will be disclosed shortly. Work continues on optimizing the leach parameters and on pre-concentration by flotation and/or magnetic separation. The potential for heap leaching the Round Top Deposit is also being considered.
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We estimate that Yttrium comprises approximately 41% of our REE mix by weight. These results are preliminary in nature and more research needs to be done. Acid consumption and process development designs must be determined before an economic process can be defined and a determination of potential preliminary economic viability of the process can be made. The Round Top project does not contain proven and probable reserves under the Securities and Exchange Commission’s Industry Guide 7 and our activities are exploratory in nature.
About Texas Rare Earth Resources Corp.
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.
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, possible economic advantages of Yttrofluorite bearing the REEs at our Round Top project, the potential for higher recovery rates than stated in our June 2012 PEA, future capital costs and potential economic viability of our Round Top project, results of recoveries of other REEs still being analyzed, work being completed regarding leach parameters, pre-concentration by flotation and/or magnetic separation and on the potential for heap leaching the Round Top project, acid consumption and process development designs being determined and the potential preliminary economic viability of the heap leach process. 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.
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