Here’s the news on the land acquisition - REM's an area play imo:
Press Release Source: Rare Earth Metals Corp.
Rare Earth Metals Corp. Expands Copper-Zinc Project, Flin Flon-Snow Lake Greenstone Belt, Manitoba
Thursday March 23, 2:30 pm ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 23, 2006) - Rare Earth Metals Corp. (TSX VENTURE:REM - News; the "Company") is pleased to announce the acquisition of a strategic land package, covering in excess of 120 square kilometres, in the Flin Flon-Snow Lake greenstone belt, Manitoba, Canada. Seven distinct VMS copper-zinc deposit target areas are now held by the Company.
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The Flin Flon-Snow Lake Greenstone Belt is one of the largest Proterozoic aged volcanic hosted massive sulphide (VMS) districts in the world, with production of over 160 million tonnes of copper-zinc ore from 24 deposits. The deposits of the belt average grades of approximately 2.5% copper and 4.5% zinc and are known for their significant gold and silver credits. The belt is considered one of the most prospective regions of Canada for the discovery of new large copper-zinc VMS deposits.
The Company's focus on volcanogenic massive sulphide (VMS) type ore bodies is due in part to their polymetallic (copper, zinc, lead, silver and gold) content, their high-grade, the strength of our technical team and the opportunity to acquire a significant land position with large deposit potential.
The project is being led by Dr. George Gale, the Company's Vice President of Exploration. Dr. Gale has extensive personal experience in evaluating areas with potential to host VMS copper-zinc deposits, and in developing exploration techniques for identifying mineralized target areas. As former head of the Mineral Deposits Branch of the Manitoba Geologic Survey, Dr. Gale led the effort to have most of the known base and precious metal deposits in the province investigated in detail.
A number of geological criteria were used to select the land position; a) where drill core has intersected key volcanic stratigraphy recognized, as hosting VMS deposits in the belt, b) areas with alteration of host rocks typically associated with VMS deposits, c) areas with sulphide mineralization having enrichment in pathfinder metals, and d) areas with published airborne geophysical data indication the presence of prospective target horizons.
All technical information in this release has been reviewed by George Gale PhD, P.Geo, Vice President Exploration, Rare Earth Metals Corp.
