SARFARTOQ RARE EARTH ELEMENTS PROJECT

A neodymium REE project

Project Highlights

The Sarfartoq REE project lies within a large carbonatite complex hosting high neodymium (Nd) and praseodymium (Pr) content in bastnaesite and monazite mineralization. Neodymium and praseodymium are the key elements in permanent magnets which are a crucial component in products from computer hard drives to wind turbines and hybrid cars. Project highlights include:

High ratio of Nd and Pr at 25%-40% of Total Rare Earth Oxides (TREO)
Drilled a total of 31,400 meters on the Sarfartoq Carbonatite Complex from 2009 to 2012
Extracted and tested a 5 tonne bulk metallurgical sample at ST1 grading 2.51% TREO (see NR 2012-01)
Completed a Preliminary Economic Assessment on the ST1 project in 2012 (see NR2011-15)
The ST1 resource model outlined an NI 43-101 compliant resource based on an underground mining scenario comprised of the following:

5.9M tonnes indicated averaging 1.8% TREO

2.5M tonnes inferred averaging 1.6% TREO for the ST1 zone (1% cut-off)

ST1 contains 27M kg of Neodymium Oxide and 8M kg of Praseodymium Oxide

High-grade intersections at ST1 include the following:
24 meters of 3.5% TREO (SAR10-36)
14 meters of 4.8% TREO (SAR11-45)
6 meters of 6.05% TREO (SAR12-03)
6 meters of 4.91% TREO (SAR12-01)
8 meters of 4.61% TREO (SAR12-15) (see NR2013-01)
Metallurgical flowsheet includes bastnaesite and monazite flotation, leaching, acid bake solvent extraction and precipitation to produce a 42-45% carbonatite product.
Located near tidewater and international airport.

What are Rare Earth Elements?

Rare Earth Elements are key components in many green energy application and high tech products. One of the most important REEs is Neodymium.

Neodymium Iron Boron Magnets – the strongest magnets known and a critical component in Green Technologies, fuel efficiency and the miniaturization of electronic devices. Rare earth elements help reduce carbon emissions.

Major uses: