Pele Mountain Updates Economic Assessment of Uranium, Rare Earth Project

Pele Mountain Resources Inc. (TSXV:GEM,OTCQX:GOLDF) announced new results on its economic assessment of its Eco Ridge Mine rare earths and uranium project.

As quoted in the press release:

Since publication of its previous PEA in July 2011 (the “2011 PEA”), Pele has pursued opportunities for processing circuit improvements at Eco Ridge. The updated PEA demonstrates that the projected financial benefits from sharply higher rare earth recoveries, as a result of conventional milling rather than leaching, far outweigh associated capital and operating cost increases and more conservative forecast pricing for rare earth oxides (“REO”) and uranium oxide (“U₃O₈“).

Click here to read the Pele Mountain Resources Inc. (TSXV:GEM) press release.