Texas Rare Earth Resources Reports Significant Lithium and Beryllium Recoveries in Column Leach Testing by Independent Laboratory
November 20, 2013 (Source: Marketwired) — Lab Results Suggest Potential Extra Revenue Streams From Round Top Project
Texas Rare Earth Resources Corp. (OTCQX: TRER), a heavy rare earths exploration company, is pleased to announce results from column leach tests conducted by Resource Development Inc. (RDI) of Wheat Ridge, Colorado, an independent laboratory testing company which provides technical and consulting services to the international mining industry.
In addition to the rare earth element recoveries from the column leach results reported in TRER’s Sept. 30 press release, Round Top Rhyolite crushed to 1/2 inch rhyolite leached at room temperature in 75 g/l sulfuric acid strength columns for 60 days yielded potentially economically significant amounts of lithium (Li) and beryllium (Be) metal. Test results are summarized below:
|Ore Grade, ppm||400||19|
At these recoveries, and assuming a 20,000 tpd (tonnes per day) operation as envisioned in the upcoming revised Preliminary Economic Assessment (PEA), recoveries of as much as 9,000 tons of lithium carbonate per year and approximately 36 tons of beryllium oxide per year are suggested. TRER’s upcoming revised PEA will be based only on the rare earth elements but the presence of these other elements in the leach solution holds the possibility of significant by-product revenue. It is important to note that the upcoming revised PEA will not incorporate either LI or Be economics as neither mineral was included in the NI 43-101 resource estimate published in June 2012 and actual recoveries of Li and Be in any future mining operations may differ from those indicated by the independently run column leach results.
Current industrial grade lithium carbonate pricing is approximately $5,500 per ton (Source: Metal-Pages, June 2013). Lithium carbonate is required for the lithium-ion batteries whose end uses include portable electronic devices, electric vehicle batteries and power grid electricity storage. Current beryllium oxide pricing is approximately $374,000 per ton (Source: Shanghai Metals Market, November 2013). Typical beryllium uses include aerospace (missile and rocket nozzles), automotive (ignition components), computers (chip heat sinks), defense electronics (highly conductive and strong wiring) and other specialized industrial applications.
According to the U.S. Geological Survey, 2012 world mine production of Li was estimated to be 37,000 tons while 2012 world mine production of Be was estimated to be 230 tons.
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Dan Gorski, CEO, commented: “Work will continue to optimize the recoveries of the valuable non-rare-earth elements of the Round Top deposit. Given the variety of elements present in the leach solution from the column leach tests, we will continue to investigate the by-product revenue possibilities of the potentially low CapEx heap leach model.”
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 the potential development of the Round Top project, the possibility of significant by-product revenue, potential future recoveries of lithium carbonate and beryllium oxide, expected increases in lithium demand, continued work by the Company to optimize recoveries of non-rare-earth elements at the Round Top project, continued investigation of by-product potential in the heap leach model, and other such similar statements. 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 mineral estimates, risks related to mining results not matching preliminary tests and risks related to the ability of the company to successfully monetize its non-rare earth resources, 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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