Rare Element Resources Announces Filing of NI 43-101 for Bull Hill Mine at Bear Lodge Project

Rare Element Resources Ltd. (AMEX:REE,NYSE:REE,TSX:RES) has filed a  NI 43-101 Technical Report for their Bull Hill Mine at the  Bear Lodge Rare Earth Project in Wyoming.

As quoted in the press release:

Key highlights from the Company’s drilling program to date include the following:

• Increase in the total Measured and Indicated (M&I) oxide resource at Bear Lodge from 7.5 million tons (6.8 million tonnes) to 14.7 million tons (13.3 million tonnes) at an average grade of 3.22% rare earth oxide (REO), based on a 1.5% cutoff grade. This represents an increase in total pounds of REO resource of 65%, from 571 million to 944 million pounds.

Rare Element’s President and CEO, Randall Scott, said:

We are very pleased with the success of our 2012 drill program in expanding the Bear Lodge resource while maintaining a strong average grade of over 3.2% REO. Our project district has an excellent distribution and high abundance of Critical Rare Earth Elements, the higher-valued elements that we expect to experience better demand growth and price support over the longer term. Both the quantity and quality of our updated resource makes us confident in our assertion that the Bear Lodge Project is now a world-class, critical rare earth district.

To view the whole press release, click here.