May 2, 2011 (Canada NewsWire Group) --
Results Include 221.4m @ 0.63% TREO, with 47.9% HREO and 1.60% ZrO2 (NKA11033)
VANCOUVER, May 2 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM) (Frankfurt: T61) (Pinksheets: TASXF). Mr Mark Saxon, President & CEO, is pleased to provide assay results from an additional 3 holes drilled as part of the Phase 3 program that is underway at the Company's 100% owned Norra Karr heavy rare earth element (REE) - zirconium (Zr) project in Sweden during winter/spring 2011.
Thickness of REE - Zr mineralization at Norra Karr has been expanded significantly by this set of drill holes. The highlight is NKA11033 which intersected 221.4m of mineralization at an REE grade 17% higher than the grade of the base case of the current NI43-101 compliant inferred mineral resource. NKA11033 lies on infill section EF (see Figure 1 - http://files.newswire.ca/863/norrakarrfigure1.pdf), 80m west of NKA11032 (as reported in Tasman press release dated 27th April 2011) and intersected 221.4m @ 0.63% TREO (total rare earth oxide), with 47.9% HREO (heavy rare earth oxide) and 1.60% ZrO2 (zirconium oxide). Drill widths quoted approximate the true width of mineralization.
The best results returned from holes 33, 34 and 37 (assays for 35 and 36 are awaited), calculated using a lower cut-off of 0.2% TREO are:
TREO (total rare earth oxide) = sum of La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3,
Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3;
HREO (heavy rare earth oxide) = sum of Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3;
Most significant REO's by % are Y2O3, La2O3, Ce2O3, Nd2O3, Dy2O3
The Norra Karr project is characterized by containing the highest proportion of the high value HREO of all advanced projects in the Western World, as evaluated by industry analysts at Technology Metals Research LLC (www.techmetalsresearch.com), with HREO as a percentage of TREO exceeding 50%. Of particular note are the high contribution of Y2O3 (yttrium oxide) and Dy2O3 (dysprosium oxide) both metals with strong demand and few potential sources outside of China.
"Norra Karr continues to reward us, with grade and thickness of mineralization improving markedly in this Phase 3 program," said Mark Saxon, Tasman's President & CEO. "Such thick intercepts highlight the scale and potential of this globally significant heavy rare earth element project, and give us the encouragement we need to fast track our Preliminary Economic Assessment and continue to rapidly advance our metallurgical research."
The twenty second hole (NKA11048) of this expanded Phase 3 program is now underway, anticipated to comprise 33 holes in total. The objective of this drill program is to infill sections to 100m spacing, test the depth extension of the mineralized intrusion and obtain additional drill core for ongoing metallurgical testing. Drilling is proceeding well with the REE mineralized intrusion having been intersected in all drill holes. The mineralized intrusion has now been drill tested to a maximum down-hole depth of 298.8m in drill hole NKA11040 (assays pending), which ended in the intrusion at the limit of the available drill rods. This hole extended the depth of intrusion approximately 100m below the lower limit of current NI 43-101 compliant inferred resource. Further information on the project and a recently published NI43-101 resource report can be found on the Company's website at http://www.tasmanmetals.com/s/Norra-Karr.asp. The 3 holes reported herein lie on 100m infill sections EF and DE, with a drill spacing of approximately 80m on section (see Figure 1 - http://files.newswire.ca/863/norrakarrfigure1.pdf).
Mineralization occurs within the Norra Karr peralkaline nepheline syenite intrusion, which covers 350m x 1100m, first discovered in 1906, and subsequently test mined for nepheline, Zr and Hf. Better grades of mineralization in drill holes appear associated with partially melted or pegmatitic intervals within the intrusion. Recent mineralogical work by SGS Mineral Services has shown REE bearing minerals to be zirconosilicates, principally eudialyte and catapleiite. The project shows geological similarity to advanced projects at Strange Lake (Quebec) and Dubbo (Australia).
Norra Karr is located in southern Sweden, 300km SW of the capital Stockholm and lies in mixed farming and forestry land. The site is well serviced by power, roads and water allowing all year round access, plus a local skilled community. For an overview of the infrastructure and resource at site, please see a recent 3D fly through video at http://www.tasmanmetals.com/i/videos/video1/index.html.
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development company focused on Rare Earth Elements (REE's) in the European region and is listed on the TSX Venture Exchange under the symbol "TSM". REE demand is increasing, due to the metals unique properties that make them essential for high technology and environmentally-beneficial applications. Since over 95% of REE supply is sourced from China, the European Union is actively supporting policy to promote domestic supply of REE's, to ensure the security of high-tech industry. Tasman's exploration portfolio is uniquely placed, with the capacity to deliver "high-tech" metals from politically stable, mining friendly jurisdictions with developed infrastructure.
The Company's Norra Karr project in Sweden is one of the most significant heavy REE resources in the world, and the only NI43-101 compliant REE resource in mainland Europe. With a TREO (total rare earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises 60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium oxide), with 53.7% of the TREO being the higher value HREO (heavy rare earth oxide). The resource is unusually low in radioactive metals relative to peer projects, with less than 15 ppm each of uranium and thorium.
For more information regarding rare earth elements, see the Rare Metal Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com/.
On behalf of the Board,
Mark Saxon, President & CEO
Samples submitted by Tasman Metals Ltd were analyzed by the ME-MS81 technique by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice. Where over-range for ME-MS81, Zr was determined using the ME-XRF10 technique. The qualified person for the Company's exploration projects, Mark Saxon, President and Chief Executive Officer of Tasman and a Member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists, has reviewed and verified the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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