Replies to post #1625 on Ed's Thread

[Ed Monton]

I think your wrong. REM is a gold play too.

Rare Earth receives high-grade results from Hunt

2004-04-07 14:50 ET - News Release

Mr. John Roozendaal reports

R.E.M. REPORTS BEST EVER HIGH GRADE GOLD INTERSECTS INCLUDING 38.8 G/T; MAJOR DRILL PROGRAM PLANNED FOR THIS SUMMER, ASSEAN LAKE PROJECT, MANITOBA

Rare Earth Metals has returned high-grade gold assay results from drilling on the Hunt zone on the company's Assean Lake, shear-hosted gold project in north-central Manitoba as received by Canadian Gold Hunter, the company's joint venture partner. A total of 4,237 metres were drilled in the 25-hole program, which concluded on March 27. Nine holes (2,476 metres) were drilled on the Hunt zone and 16 holes (1,761 metres) on reconnaissance targets on the north side of Assean Lake. See the company's Web site for the latest long section of the Hunt zone at www.remcorp.info.

High-grade assays from three drill holes in the Hunt zone, HT-147, 151 and 155, are listed in table form below. As a group and individually, these gold intercepts are the best ever encountered on the Hunt zone! Significant visible gold was noted in all of the intercepts. In addition, a second high-grade zone (Hunt B) was intersected in HT-147 approximatley 40 to 45 metres below (to the north of) the Hunt zone. Only the upper part of the Hunt B was cut in HT-151, which was shut down too early. The Hunt B zone is also present in HT-155.

 
  
  
 Hole           Int.      Len.*  Au       
 No.             m         m     g/t Zone 
       
 HT-04-147 208.85-210.80  1.95  16.83   H 
 and       254.96-256.60  1.64  19.28  HB 
      
 HT-04-151 189.65-192.60  2.95  16.96   H 
 incl.     190.15-192.15  2.00  24.53   H 
 and       239.25-240.00  0.75   3.78** H 
       
 HT-04-155 202.83-207.10  4.27  27.22   H 
 incl.     203.18-206.12  2.94  38.78   H 
 and       239.50-244.20  4.70   1.73  HB 
  
  
 

.................


* -- True widths are 80 per cent to 85 per cent of the reported lengths.

** -- Hole stopped in Hunt B zone.

H -- Hunt zone

HB -- Hunt B zone

Rick Bailes, president of Canadian Gold Hunter, commented: "These are spectacular results. The high-grade shoot continues to show excellent continuity, is flattening, and is clearly open to the west and at depth. The Hunt B zone is an added bonus, which gives an exciting new dimension to the potential of the Hunt target. We will be undertaking a major drill program on the Hunt zone again this summer to follow up on these excellent results." Assays are pending on HT-158 and 161, the last two holes drilled to the west, and higher in the Hunt zone section.

Rare Earth Metals also has agreements with Strider Resources to acquire a 100-per-cent interest in both the Row/Lass and Wood claim blocks. The extension claim blocks encompass an area of 3,271 hectares (8,083 acres) in 16 claims along the Assean Lake shear zone (ALSZ). The Row/Lass claims cover eight kilometres of the east strike extent and the Wood claims cover seven kilometres of the west strike extent, respectively, of the core claim group, which is held under joint option by Rare Earth Metals 40 per cent and Canadian Gold Hunter 60 per cent.

The ALSZ is a major break in the earth's crust, which can be traced for over 200 kilometres. Major geologic structures similar to the ALSZ are associated with gold camps throughout the Canadian Shield. The Assean Lake property is an advanced gold exploration project with over $3-million invested in exploration.

Drill results and technical data have been reviewed by Jan Christoffersen, PEng, a qualified person pursuant to National Instrument 43-101. The mineralized drill core intervals are split in the field and sent to ALS Chemex in Vancouver for analysis. The intervals containing visible gold are assayed by fire-assay procedure for metallics gold. This procedure involves pulverizing a one-kilogram sample and passing the prepared pulp through a 150-mesh (106-micron) screen. The plus-150-mesh material is analyzed in its entirety by fire assay. The minus-150-mesh material is homogenized and a 50-gram subsample is assayed by fire assay with gravimetric finish. The samples from sections that did not contain visible gold were fused by fire assay and analyzed by atomic absorption spectroscopy. A series of standards are routinely introduced with each batch of samples. Quality controls include preparation and analysis statistics performed to industry standards