VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/07/11 -- Search Minerals Inc. (TSX VENTURE: SMY) ("Search" or "the Company") and Great Western Minerals Group Ltd. ("GWG") of Saskatchewan, have received assays for the completed first phase drill program on SMY's 100% owned Red Wine Property, located approximately 110 km northeast of Churchill Falls, Labrador. The 1,906 m (10 hole) drill program confirmed that the previously reported surface eudialyte-bearing REE-Zr-Y mineralization continues to depth in the Pinot Rose' and Cabernet showings. Analytical results for core samples indicate 550 ppm Dy, 3451 ppm Y and 1.25% total REE (TREE; 1.59% Y+TREE) over 4 metres at the Cabernet showing. Metallurgical samples have been collected from three channels on the property.
Highlights:
-- 550 ppm Dy, 3451 ppm Y and 1.25% TREE (1.59% Y+TREE) over 4 metres; -- completed 1906 m NQ drilling program on Red Wine REE-Zr-Y property; -- additional drill holes planned for 2011; -- three REE metallurgical/mineralogical samples have been collected. (Note: Dy = Disprosium; Y = Yttrium; Zr = Zirconium)
Cabernet Showing
Five exploration holes (-45 degrees angle) were drilled at the Cabernet REE-Zr-Y showing. Two types of mineralization were observed in drill core and analytical results for some mineralized core intervals are listed in the table below. It is estimated that the reported intersection lengths are close to true widths. (See the following link for the locations of the showing, e.g. Cabernet and Pinot Rose, on License 013144M of the Red Wine Property: http://searchminerals.ca/redwine_map.php)
Type 1 Mineralization
The lower grade Type 1 mineralization comprises disseminated eudialyte, and, eudialyte pods and veins in syenitic and pyroxenitic gneisses and returned assay results of 137 ppm Dy, 8642 ppm Zr, 787 ppm Y and 2411 ppm TREE (0.32% Y+TREE) over 9.0 m.
Type 2 Mineralization
The higher grade Type 2, eudialyte-absent, mineralization comprises disseminated unidentified REE minerals in amphibole-pyroxene-nepheline gneiss and returned values of 550 ppm Dy, 3451 ppm Y and 1.25% TREE (1.59% Y+REE) over 4.0 m. This mineralization, as intersected in 3 holes over a strike length of 300 m, ranges from 4.0 to 5.6 m thick, and is open at depth and along strike to the east.
RED WINE DRILL PROGRAM - CABERNET SHOWING
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Hole No. CB-03 CB-05 CB-01 CB-02 CB-05 CB-03
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Mineralization Type 1 Type1 Type 2 Type 2 Type 2 Type 2
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Interval (m) 3.6- 36.6- 158.6- 56.6- 124.2- 77.85-
13.3 45.6 162.6 62.2 128.45 80.3
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Length (m) 9.7 9 4 5.6 4.25 2.45
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Y 751.8 786.7 3450.5 2709.7 3408.1 1294.2
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Zr 7772.7 8642.0 941.3 1675.1 1475.1 907.5
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Nb 147.6 158.3 50.8 56.6 94.1 44.6
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La 315.0 384.1 2120.0 1379.7 1896.5 889.2
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Ce 680.6 888.5 4827.5 3056.3 3898.2 1614.3
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Pr 94.2 106.8 600.5 421.3 477.6 196.8
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Nd 407.2 435.6 2455.0 1798.2 1978.2 807.5
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Sm 93.9 102.9 472.8 359.7 384.5 155.7
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Eu 12.4 14.9 53.2 40.8 47.6 17.3
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Gd 97.1 101.4 462.0 332.6 381.6 150.6
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Tb 20.6 21.0 84.1 62.7 80.0 30.1
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Dy 131.2 137.1 550.3 428.6 530.6 197.7
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Ho 27.7 29.4 120.0 88.3 115.7 43.0
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Er 82.1 86.2 349.3 278.0 350.6 136.6
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Tm 12.2 13.2 48.6 40.4 51.6 20.8
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Yb 73.4 78.9 280.0 245.3 301.0 123.8
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Lu 10.3 11.3 36.7 30.8 38.8 16.6
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LREE 1590.9 1917.9 10475.8 7015.2 8635.0 3663.5
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HREE 467.0 493.4 1984.2 1547.5 1897.5 736.5
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HREE + Y 1218.8 1280.1 5434.7 4257.2 5305.6 2030.7
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TREE 2057.9 2411.3 12460.0 8562.7 10532.5 4400.0
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TREE + Y 2809.7 3198.0 15910.5 11272.4 13940.6 5694.2
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%HREE 22.7% 20.5% 15.9% 18.1% 18.0% 16.7%
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%HREE+Y 43.4% 40.0% 34.1% 37.8% 38.1% 35.7%
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Note: All amounts parts per million (ppm). 10,000 ppm = 1% = 10 kg/tone
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Rare Earth Elements: La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er,
REE Tm, Yb, Lu (the Lanthanide Series).
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Total Rare Earth Elements: Add La, Ce, Pr, Nd, Sm, Eu, Gd, Tb,
TREE Dy, Ho, Er, Tm, Yb, Lu (the Lanthanide Series).
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LREE Light Rare Earth Elements: Add La, Ce, Pr, Nd, Sm.
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Heavy Rare Earth Elements: Add Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb,
HREE Lu.
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Y herein not included in HREE due to low market value compared to
Y most Lanthanide series HREE.
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%HREE+Y %(HREE+Y)/(TREE+Y)
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%HREE %(HREE/TREE)
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Pinot Rose' Showing
An additional five exploration holes (-45 degrees angle) were drilled at the Pinot Rose' REE-Zr-Y showing, where eudialyte-bearing veins and pods (mineralization Type 1) occur at surface in syenitic gneisses. Similar small veins and pods were observed at depth in association with disseminated eudialyte mineralization, which occurs in zones from 6.2 to 13.4 m thick. Analytical results for some mineralized core intervals are listed in the table below. Best results to date give 154 ppm Dy, 6061 ppm Zr, 810 ppm Y and 2669 ppm TREE (0.35% Y+TREE) over 11.8 m of disseminated mineralization with some small eudialyte-enriched veins, one of which, assayed 568 ppm Dy, 2.30% Zr, 3144 ppm Y and 6569 ppm TREE (0.97% Y+TREE) over 0.4 m.
RED WINE DRILL PROGRAM - PINOT ROSE' SHOWING
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Hole No. PR-01 PR-02 PR-03 PR-03 PR-04 PR-05
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Mineralization Type 1 Type 1 Type 1 Type 1 Type 1 Type 1
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Interval (m) 134.4- 49.4- 96.9- 121- 130- 188.4-
147.8 57.5 97.3 132.8 136.2 194.6
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Length (m) 13.4 8.1 0.4 11.8 6.2 6.2
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Y 424.9 479.7 3144.0 810.2 750.1 599.0
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Zr 4486.5 5637.9 22960.0 6061.0 5610.0 5470.2
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Nb 82.4 160.5 342.0 104.5 101.9 108.7
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La 388.5 247.2 774.0 375.8 348.3 299.9
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Ce 841.6 588.2 1890.0 917.1 829.4 679.8
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Pr 94.0 68.1 268.0 105.6 103.9 92.5
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Nd 386.7 299.9 1270.0 473.7 469.0 377.2
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Sm 80.0 66.4 352.0 115.9 109.7 90.5
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Eu 5.5 8.4 39.7 134.0 12.8 10.5
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Gd 75.1 66.2 400.0 122.8 109.9 91.4
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Tb 13.7 12.5 80.8 23.2 204.0 18.5
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Dy 89.3 80.1 568.0 154.0 132.5 120.4
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Ho 19.2 16.9 128.0 33.7 27.2 25.2
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Er 58.5 49.9 392.0 102.8 79.4 73.0
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Tm 8.9 7.2 55.0 14.6 11.3 10.7
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Yb 58.9 45.6 311.0 84.2 68.6 64.3
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Lu 9.1 6.7 40.3 11.4 9.6 8.6
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LREE 1790.8 1269.8 4554.0 1988.1 1860.3 1539.9
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HREE 338.2 293.5 2014.8 680.7 655.3 422.6
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HREE + Y 763.1 773.2 5158.8 1490.9 1405.4 1021.6
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TREE 2129.0 1563.3 6568.8 2668.8 2515.6 1962.5
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TREE + Y 2553.9 2043.0 9712.8 3479.0 3265.7 2561.5
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%HREE 15.9% 18.8% 30.7% 25.5% 26.0% 21.5%
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%HREE+Y 29.9% 37.8% 53.1% 42.9% 43.0% 39.9%
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Note: All amounts parts per million (ppm). 10,000 ppm = 1% = 10
kg/tonne
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REE Rare Earth Elements: La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho,
Er, Tm, Yb, Lu (the Lanthanide Series).
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TREE Total Rare Earth Elements: Add La, Ce, Pr, Nd, Sm, Eu, Gd,
Tb, Dy, Ho, Er, Tm, Yb, Lu (the Lanthanide Series).
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LREE Light Rare Earth Elements: Add La, Ce, Pr, Nd, Sm.
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HREE Heavy Rare Earth Elements: Add Eu, Gd, Tb, Dy, Ho, Er, Tm,
Yb, Lu.
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Y Y herein not included in HREE due to low market value
compared to most Lanthanide series HREE.
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%HREE+Y %(HREE+Y)/(TREE+Y)
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%HREE %(HREE/TREE)
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Three metallurgical samples (each approximately 20 kg from channel sampling) have been collected and sent to Xstrata for metallurgical/mineralogical studies. Two samples have been collected from the Cabernet showing, one being from eudialyte-bearing mineralization (Type 1) and the second from eudialyte-absent mineralization (Type 2). The third sample was collected from eudialyte-bearing mineralization (Type 1) at the Malbec showing, which is 1 km northwest of the Cabernet showing.
Follow-up drilling is planned in 2011 for the Cabernet Showing to outline the extent of the Type 2 Dy-enriched mineralization. Exploration drilling is also planned for the nearby Malbec showing. Additional channel sampling, prospecting and mapping is planned for the Malbec, Zinfandel, Shiraz and Merlot showings and elsewhere on the Company's Red Wine property.
Jim Clucas, President and CEO of Search notes " The confirmation of the surface mineralization at depth on the 2 Red Wine occurrences drilled to date has enhanced the potential of the Red Wine Property. In addition, the high grade of the REE intersections at the Cabernet Showing gives us significant encouragement going into the 2011 program"
This exploration program was funded by Great Western Minerals Group as part of their Option obligations whereby they can earn a 50% working interest in the Red Wine Property (News Release of March, 26, 2010).
Jim Engdahl, President and CEO of Great Western Minerals Group said "We are extremely pleased with this initial drill program on the Red Wine property. Besides encouraging grades over significant widths, both the Type 1 and Type 2 mineralization are enriched in dysprosium, over 3% proportionately in all zones. As manufacturers of permanent magnet alloys, GWMG prioritizes projects with the potential to produce dysprosium. NdFeB magnets need dysprosium to function under high temperature and dysprosium shortages are projected unless additional sources are discovered. This makes the Red Wine project very important to us."
Core samples were split for assay samples, logged and transported by Company personnel to the Goose Bay sample preparation facility of Activation Laboratories Ltd. Samples were prepared for assay and then transported to the Activation Laboratories Ltd. analytical facility in Ancaster Ontario for assay. See details of sample preparation and analytical procedures in a previous news release (July 27, 2010).
Randy Miller, Ph.D, P.Geo, Vice President Exploration, is the Qualified Person responsible for the technical content of this press release.
About Search Minerals Inc.
Search Minerals Inc (TSX VENTURE: SMY) has a strong and dedicated management team with outstanding capabilities in separate but related mining activities, any of which has the potential to generate significant shareholder value. Search's mineral exploration team is led by Vice President Exploration Dr. Randy Miller. Dr. Miller is responsible for directing the current exploration programs on Search's large land position in Labrador. Search also has a technology arm headed up by Dr. David Dreisinger, Chair of Hydrometallurgy at the University of British Columbia in Vancouver, Canada, and a consultant to several major international mining companies. Search's business strategy is to fund new ideas or concepts in the mineral exploration or metallurgical fields that have low initial costs and high potential.
About Great West Minerals Group
Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly-owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 92.6% ownership in Rare Earth Extraction Co. Limited, the owner of the Steenkampskraal mine. GWMG also holds interests in seven Rare Earth exploration and development properties in North America.
Cautionary Statement:
This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward- looking statements. Factors that could cause actual results to differ materially from these forward- looking statements include those risks set out in Search's public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Search disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.
Contacts:
Search Minerals Inc.
Jim Clucas
President and CEO
604-688-6180
604-682-7317 (FAX)
jimclucas@searchminerals.ca
www.searchminerals.ca
Great Western Minerals Group Ltd.
Dwight Percy
Manager of Investor Relations
306-659-4500
info@gwmg.ca
www.gwmg.ca
