Doubling the Resource Estimate of One of the World’s Largest Heavy Rare Earths Deposits
February 19, 2012 — Peter Cashin, President and CEO of Quest Rare Minerals (TSX: QRM | NYSE MKT: QRM), in an interview with Tracy Weslosky, Publisher of ProEdgeWire, spoke about the current shift on engineering work and the doubling of the resource estimate at what is one of the largest deposits of Heavy Rare Earths (HREE) in the world. Cashin said the increased estimate, as compared to the one originally announced in 2011, resulted from using “much tighter drill spacing”. In addition, said Cashin, “we’ve now identified and firmed up what we consider the enriched zone or the very high grade upper portion of the resource, which will allow us to focus our initial production on, and accelerate the cash flows related to the project”.
One of the central points in the interview concerns the metallurgical extraction process. Cashin highlighted that Quest employs “a very strong team of metallurgists and metallurgical engineers that have been advancing all aspects of the metallurgical flow-sheet. In 2013, the Company expects to complete the mini-pilot plant work in Mississauga “converting the information we’ve learned from that process into a demonstration level processing plant”.
Disclaimer: Quest Rare Minerals is a member of ProEdgeWire.
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An accomplished entrepreneur Tracy Weslosky is the CEO for InvestorIntel Corp., a company that publishes InvestorIntel.com, a trusted source of online market information for investors ... <Read more about Tracy Weslosky>