Search Minerals Finds 10 New Prospects

Search Minerals (TSXV:SMY) and subsidiary Alterra Resources said today they have discovered 10 new prospects in the Port Hope Simpson rare earth district in Labrador. Search said the mineralization is similar to its Foxtrot project for which an updated preliminary economic assessment was filed in May.

As quoted in the press release:

Stephen Keith, President and Chief Executive Officer of the Company, stated, “We are very pleased with the continued positive results we have seen from the Fox Harbour Belt.  Although our 2013 exploration budget was limited, we were able to confirm the presence of 14 targets with known REE mineralization within the District. These new Prospects, together with our flagship Foxtrot Project, truly illustrate the exceptional nature of this region, located in a safe jurisdiction, near deep water and infrastructure, all within trucking distance of one another. This is a region of significance for REE development—Foxtrot and the Fox Harbour volcanic belt fit perfectly into the Company’s new strategy of focusing on critical metals.”

Read the full press release by Search Minerals (TSXV:SMY)