Apr. 26, 2011 (Canada NewsWire Group) --
Results Include 160.85m @ 0.62% TREO, with 47.9% HREO and 1.57% ZrO2 (NKA11032)
VANCOUVER, April 26 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM) (Frankfurt: T61) (Pinksheets: TASXF). Mr Mark Saxon, President & CEO, provides assay results from the first 6 holes drilled as part of the Phase 3 program completed at the Company's 100% owned Norra Karr heavy rare earth element (REE) - zirconium (Zr) project in Sweden during winter/spring 2011. All 6 holes intersected REE-Zr mineralization, with a maximum mineralized width of 160.85m.
A highlight of these new results is NKA11032 which lies on infill section EF (see Figure 1), that intersected 160.85m at 0.62 % TREO (total rare earth oxide), 1.57 % ZrO2 (zirconium oxide), with 47.9 % of the TREO being the higher value HREO (heavy rare earth oxide), being the thickest intersection of HREE on the project to date. Of further note is NKA10028, which intersected the highest ZrO2 values discovered thus far at Norra Karr. Drill widths quoted approximate the true width of mineralization.
The best results returned from holes 27 to 32, calculated using a lower cut-off of 0.2% TREO are:
TREO (total rare earth oxide) = sum of La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3,
Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3;
HREO (heavy rare earth oxide) = sum of Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3, Y2O3;
Most significant REO's by % are Y2O3, La2O3, Ce2O3, Nd2O3, Dy2O3
The Norra Karr project is characterized by containing the highest proportion of the high value HREO of all advanced projects in the Western World, as evaluated by industry analysts at Technology Metals Research LLC (www.techmetalsresearch.com), with HREO as a percentage of TREO exceeding 50%. Of particular note are the high contribution of Y2O3 and Dy2O3, both metals with strong demand and few potential sources outside of China.
The twenty first hole (NKA11047) of this Phase 3 program is now underway. The objective of this drill program is to infill sections to 100m spacing, test the depth extension of the mineralized intrusion and obtain additional drill core for ongoing metallurgical testing. Drilling is proceeding well with the REE mineralized intrusion having been intersected in all drill holes. The mineralized intrusion has now been drill tested to a maximum down-hole depth of 298.8m in drill hole NKA11040 (assays pending), which ended in the intrusion at the limit of the available drill rods. This hole extended the depth of intrusion approximately 100m below the lower limit of current NI 43-101 compliant inferred resource. Further information on the project and a recently published NI43-101 resource report can be found on the Company's website at http://www.tasmanmetals.com/s/Norra-Karr.asp.
For the 6 holes reported herein, NKA10027 - 30 are located south of the current resource area, 100m south of previous drilling near the southern margin of the Norra Karr intrusion. Holes NKA11031 and 32 lie on 100m infill section EF, with a drill spacing of approximately 80m on section (see Figure 1).
"The winter/spring drilling program has progressed very well at Norra Karr, with many intersections of the host intrusion exceeding 150 metres," said Mark Saxon, Tasman's President & CEO. "We have been able to work quickly and cost effectively due to the excellent infrastructure on site, including the all year 2 wheel drive road access. These new thick intersections provide further encouragement that Norra Karr is a globally significant heavy rare earth element project. Our metallurgical research is progressing in parallel with this drilling program, and we shall shortly provide results from the first rounds of leach testing of the Norra Karr mineralization."
Mineralization occurs within the Norra Karr peralkaline nepheline syenite intrusion, which covers 350m x 1100m, first discovered in 1906, and subsequently test mined for nepheline, Zr and Hf. Better grades of mineralization in drill holes appear associated with partially melted or pegmatitic intervals within the intrusion. Recent mineralogical work by SGS Mineral Services (Canada) has shown REE bearing minerals to be zirconosilicates, principally eudialyte and catapleiite. The project shows geological similarity to advanced projects at Kipawa Lake (Ontario), Strange Lake (Quebec) and Dubbo (Australia).
Norra Karr is located in southern Sweden, 300km SW of the capital Stockholm and lies in mixed farming and forestry land. The site is well serviced by power, roads and water allowing all year round access, plus a local skilled community. For an overview of the infrastructure and resource at site, please see a recent 3D fly through video at http://www.tasmanmetals.com/i/videos/video1/index.html.
To view Figure 1 please visit: http://files.newswire.ca/863/norrakarrfig1.pdf
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development company focused on Rare Earth Elements (REE's) in the European region and is listed on the TSX Venture Exchange under the symbol "TSM". REE demand is increasing, due to the metals unique properties that make them essential for high technology and environmentally-beneficial applications. Since over 95% of REE supply is sourced from China, the European Union is actively supporting policy to promote domestic supply of REE's, to ensure the security of high-tech industry. Tasman's exploration portfolio is uniquely placed, with the capacity to deliver "high-tech" metals from politically stable, mining friendly jurisdictions with developed infrastructure.
The Company's Norra Karr project in Sweden is one of the most significant heavy REE resources in the world, and the only NI43-101 compliant REE resource in mainland Europe. With a TREO (total rare earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises 60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium oxide), with 53.7% of the TREO being the higher value HREO (heavy rare earth oxide). The resource is unusually low in radioactive metals relative to peer projects, with less than 15 ppm each of uranium and thorium.
For more information regarding rare earth elements, see the Rare Metal Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com/.
On behalf of the Board,
Mark Saxon, President & CEO
Samples submitted by Tasman Metals Ltd were analyzed by the ME-MS81 technique by ALS Chemex Ltd's laboratories in Pitea, Sweden and Vancouver, Canada, where duplicates, repeats, blanks and known standards were inserted according to standard industry practice. Where over-range for ME-MS81, Zr was determined using the ME-XRF10 technique. The qualified person for the Company's exploration projects, Mark Saxon, President and Chief Executive Officer of Tasman and a Member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists, has reviewed and verified the contents of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements. This Company news release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, competitive factors, general economic conditions, customer relations, relationships with vendors and strategic partners, the interest rate environment, governmental regulation and supervision, seasonality, technological change, changes in industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein.
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