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Search Minerals Updates 2022 Survey, The Canadian Business Journal

VANCOUVER, British Columbia, September 16, 2022 (GLOBE NEWSWIRE) — Search Minerals Co., Ltd. (TSXV: SMY | OTCQB: SHCMF) (“seek” or “Company), we are pleased to provide an update on our 2022 exploration program in Labrador, Canada.

President and CEO Greg Andrews commented: In addition to managing our exploration program, we expanded our exploration team and expanded our facilities and infrastructure in St. Louis, Labrador. Search renovated a modern office and core shed facility and built an additional storage shed to manage the increased number of drill cores. We also purchased a property in St. Louis for our 2-6 passenger trailers due to the growing need for local accommodation. ”

Andrews added. “We are continuing to work towards a feasibility study at the end of 2023 and the Deep Fox drilling program will be expanded with measured resource categories for updated mineral resource calculations scheduled for 2023. You must provide indicated and inferred resources.”

deep fox

The 2022 Deep Fox exploration program began in early June after mobilizing two diamond drilling rigs to St. Louis, Labrador. The drilling program has two main purposes. (i) further defining and delineating Deep Fox Mineral Resources to update Mineral Resource estimates suitable for feasibility studies; and (ii) geotechnical engineering necessary to facilitate optimized mine planning. is to collect target and hydrogeological data. and the design process.

The first month of drilling was assisted by helicopters to provide access to previously inaccessible areas due to the rugged and rocky terrain. We have completed a geotechnical and hydrogeological drilling program utilizing one of our drilling rigs. The rest of the drill program is completed using two truck-mounted drills. The 2022 Deep Fox program is about 60% complete, with a total of 46 drill holes underway to date. The remainder of the Deep Fox drilling program will now focus on confirming that the area within the proposed open pit has been properly drilled and that the mineral resources are consistent with the next phase of technical reporting. guess. We plan to finish the drill program by early November.

An overview of two separate drilling initiatives is provided below.

Descriptive drilling of mineral resources

  • To date, 46 resource-lined boreholes (5,229 m) have been completed.
  • All resource delineation drill holes intersect with mineralization.
  • 3,437 rock geochemical samples were sent for analysis. Results are pending.When
  • The training program is expected to be completed by early November.

Geotechnical and hydrogeological drilling

  • Ground excavation program completed.
  • 13 ground boreholes completed (3,362m).
  • Two vibrating wire piezometers (VWP) are installed.
  • Packer tests were conducted in six ground boreholes.
  • Samples were collected for laboratory geophysical examination. Results are pending.
  • Eleven of the 13 boreholes intersect mineralization and contribute to mineral resources.When
  • Assay samples are collected from mineralized zones.

Fox Meadow

Our exploration team will conduct a 200 m channel sampling program designed to extend the mineralized zone into the SE. We will explore the possibility of a small training program until personnel and funding become available.

Fox Valley

Exploration activities in the Fox Valley region consisted of construction of access trails to areas of mineralization with the aim of conducting a preliminary assessment of surface mineralization. The trail is complete and exploration in the area, consisting of test pits and channel cuts, is expected to be completed by the end of November.

red wine complex

Our exploration team is planning a two-week helicopter exploration program in the central Labrador red wine region. Exploration consists of exploration, mapping, channel cuts, and detailed drone imagery of the Two Tom Lake, Mann #1, Narnia Hill, and Merlot prospects. This preliminary program prepares these REE mineralization zones for a broader exploration program in 2023-2024.

Eligible person:

Dr. Randy Miller, Ph.D., P.Geo, is the Company’s Vice President of Exploration, a “Qualified Person” (as defined in NI 43-101) and the preparation of all scientific and technical investigations. and supervised approval. It is the information presented here, with appropriate validation on the underlying data. We strive to meet high standards of completeness, transparency and consistency in reporting technical content, including geological and analytical (such as REE) data.

About Search Minerals
Led by a proven management team and board of directors, Saatchi will focus on the discovery and development of critical rare earth element (CREE), zirconium (Zr) and hafnium (Hf) resources in the emerging Port Hope Simpson-St. is placed. Eastern Labrador. The search was carried out along the 64 km long belt that forms Labrador’s REE district, two deposits (Foxtrot and Deep Fox), two excavable veins (Fox Meadow and Silver Fox), and the Fox Valley, Foxy. It manages a number of other REE deposits, including Lady and Awesome Fox. Search has completed the following preliminary economic assessment reports deep fox When Foxtrot. Search is also working on three exploration prospects along the belt: Fox Meadow, Silver Fox When great fox.

Search continues to optimize its patented direct extraction process technology with support from the Department of Industry, Energy Advertising Technology, the Government of Newfoundland and Labrador and the Atlantic Canada Opportunity Agency. The Company has completed the operation of two of his pilot plants to produce high purity mixed rare earth carbonate concentrates and mixed REO concentrates for separation and refining. We also recognize the continued support of the Junior Exploration Program by the Government of Newfoundland and Labrador.

Search Minerals is a Canadian Government Accelerated Growth Service (“AGS”) an initiative to support high-growth companies. As a “one-stop-shop” model, AGS will provide Search with coordinated access to Government of Canada resources. Search will continue to move quickly into production and help establish a stable and secure North American and European supply chain for rare earth elements.

Cautionary Note Regarding Forward-Looking Statements:

Except for statements of historical fact, this news release contains “forward-looking information” within the meaning of applicable Canadian securities laws that is based on expectations, estimates and projections as of the date of this news release. . The “Forward-Looking Information” section of this news release includes information regarding the Company’s exploration plans, PEA and definitive feasibility study preparations and timing, and other forward-looking information. Factors that could cause actual results to differ materially from those set forth in such forward-looking information include, but are not limited to, the results of exploration activities, our ability to secure the necessary funding and any required regulatory approvals. and the ability to secure the resources necessary to complete planned exploration operations.

The forward-looking information in this news release reflects our current expectations, assumptions and/or beliefs based on information currently available to us. With respect to the forward-looking information contained in this news release, we warrant that our financial position and development plans will not be altered as a result of unforeseen circumstances and that we will obtain all necessary regulatory approvals. It is assumed that

Although we believe that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance. We undertake no obligation to update any forward-looking statements or to update reasons why actual results may differ from those reflected in the forward-looking statements, except as required by applicable securities laws. I don’t owe you. Additional information identifying the risks and uncertainties is contained in the Company’s filings with the Canadian securities regulators. www.sedar.com.

For more information, please contact:

Greg Andrews
Representative Director and President
Phone: 604-998-3432
Email: [email protected]

CBJ Newsmaker

Search Minerals Updates 2022 Survey, The Canadian Business Journal

Source link Search Minerals Updates 2022 Survey, The Canadian Business Journal

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