Zimtu Capital Corp. (CVE:ZC) reports two prospecting partners have completed an agreement with Rare Earth Metals Inc. (CVE:RA) on a rare earth property transaction.
The press release is quoted as saying:
Rare Earth’s Lavergne Property, of which the optioned claims make up a part, covers a historic REE showing previously drilled in 1969 by Geophysical Engineering and Surveys Ltd. of North Bay, Ontario. Partial drill results from the four-hole program included 0.98% Rare Earth Oxide (“REO”) over 112.7 meters which included a higher grade section of 1.22% REO over 63.3 meters (DDH-L-69-1). (Reference-Internal Report on the 1969 Diamond Drilling Program #.382 N.B.) True thicknesses of the mineralized intervals have yet to be determined.