Jul. 6, 2011 (Canada NewsWire Group) --
VANCOUVER, July 6, 2011 /CNW/ - Tasman Metals Ltd. ("Tasman" or the "Company") (TSXV: TSM; Frankfurt: T61; Pink Sheets: TASXF). Mr Mark Saxon, President & CEO, reports that the Swedish Geological Survey (SGU), following consultation with local government authorities, recently declared Tasman's 100% owned Norra Karr heavy rare earth element (HREE) project a project of "National Interest" under the Swedish Environment Act. The surface extent of the deposit was defined by the SGU with the assistance of Tasman personnel. This classification is highly significant in that it protects Norra Karr from any land use that may compete with future mining.
In defining a mineral deposit as "National Interest", the SGU considers the importance of the deposit on the basis of strategic value, the quality of its documentation, and whether the deposit represents a unique natural asset. In their commentary on Norra Karr, the SGU draw attention to the European Union's Raw Materials Initiative that proposes strategies to gain secure, long term access to raw material supply for Europe and includes facilitation of domestic production. REE's are identified as one of 14 critical metals and minerals for the EU within the coming ten-year period, and Norra Karr provides one of few potential sources for European REE production.
In declaring Norra Karr a site of "National Interest", the SGU commented that "REE's are of great importance in modern society and access to these elements is very limited within Europe. The SGU is therefore of the opinion that assets such as these should be accessible to future generations. Norra Karr is a very important project from a material supply point of view, both for Sweden as well as for Europe. The mineral resource at Norra Kärr is the only NI43-101 compliant REE resource in mainland Europe."
"Tasman welcomes the recognition given to Norra Karr as a "National Interest" project as defined by the Swedish Geological Survey" said Mark Saxon, Tasman's President & CEO. "Norra Karr is a highly significant and strategic heavy rare earth element project within Europe, with capacity to be a major and long term supplier of these critical metals. Norra Karr is particularly enriched in dysprosium, and can provide secure supply to expanding green-tech and high-tech industries for many years to come."
For a link to the information on Norra Karr provided by the SGU, see http://www.sgu.se/sgu/sv/produkter-tjanster/nyheter/nyheter-2011/riksintresse-norra-karr.html. A translated version is available at http://www.tasmanmetals.com/s/Norra-Karr.asp.
Mineralization occurs within the Norra Karr peralkaline nepheline syenite intrusion, which covers an area of 350m by 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 has shown REE bearing minerals to be zirconosilicates, principally eudialyte and catapleiite, both of which are soluble in sulphuric acid. The project shows geological similarity to advanced projects at 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.
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.
Tasman's cash position is approximately C$14.5 million.
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.
Cautionary Note to U.S. Investors Concerning Estimates of Inferred Resources. This news release uses the term "inferred mineral resource." We advise U.S. investors that this term is not recognized by the U.S. Securities and Exchange Commission. The estimation of inferrred resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. U.S. investors are cautioned not to assume that estimates of inferred mineral resources exist, are economically minable, or will be upgraded into measured or indicated mineral resources.
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.
Figure 1: Drillhole locations at the Norra Karr project, Sweden.
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