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Wardrop, A Tetra Tech Company, has been retained by Quantum Rare Earth Developments Corp.(TSXV:QRE,OTCQX:QREDF,FWB:BR3) to undertake an updated independent resource estimate for the Elk Creek Niobium Deposit, located near Elk Creek, Nebraska. The company anticipates that the NI 43-101 compliant resource estimate and Technical Report will be completed during the 1st quarter of 2012.
As quoted in the press release:
In the spring of 2011, the Company filed an NI 43-101 report authored by Tetra Tech based upon representative analysis of historic drill core produced by Molycorp Inc. during the 1970′s and 1980′s. The 2011 report calculated an inferred resource of 80.148 million tonnes grading 0.62% Nb2O5, (using a cutoff grade of 0.40% Nb2O5), containing an estimated 493 million kg’s of Nb2O5 (April 28, 2011 News Release).
The updated Technical Report will combine the results of historic re-sampling of drill core produced by Molycorp Inc, together with more recent drill results produced by Quantum including:
- NEC11-001: 235.22 m of 0.73% Nb2O5,
- including 54.13 m of 1.17% Nb2O5
- NEC11-002: 179.18 m of 0.87% Nb2O5
- Including 131.03 m of 1.02% Nb2O5
- Including 34.16 m of 1.23% Nb2O5
- NEC11-003: 130.37 m of 0.58% Nb2O5
- Including 34.16 m of 0.94% Nb2O5
(Results previously released July 27, 2011 and August 16, 2011)
Click here to read the Quantum Rare Earth Developments Corp. (TSXV:QRE) press release
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