Rodeo de los Molles
Rodeo de los Molles Deposit Highlights- Historical geologic resource of 5.6 Mt at 2.1% Total Rare Earth Oxide*
- Infrastructure advantages with immediate access to power, water and port
- Can acquire 100% interest with no underlying royalties
- Phase 1 drilling complete and Phase 2 campaign in prep
- Mineralization is on surface and remains open
Rodeo de Los Molles rare earth element (REE)-uranium deposit - San Luis Province, Argentina
The RdlM REE-U deposit has an historical geologic resource* of 5.6 Mt at 2.1% Total Rare Element Oxide (TREO) and 0.02% U3O8. This historical resource was prepared in 1992 by MHSRL staff and is based on more than 6,000 metres of shallow RAB drilling carried out by MHSRL in the early 1990's, as well as metallurgical testwork. This historical resource estimate is considered relevant by the Company, both for the purposes of the Company's decision to acquire the property and to guide the Company in formulating an exploration program for the property.
REE mineralization at the Rodeo deposit has only been tested to very shallow depths of approximately 35 to 50 vertical metres. The mineralization discovered to date remains open for expansion in all directions, including at depth. Previous metallurgical testwork suggests a relatively straight-forward metallurgical process for the deposit type similar to the formerly producing (bastnasite-hosted) Mountain Pass REE deposit in California, which contains total proven reserves of 88.0 million pounds of rare earth oxide and which produced most of the world's REE's from 1965 to 1985 (source - Molycorp, Inc.).
The RdlM project consists of 8 minas, totalling 6000 hectares, and is located approximately 300 kilometres southwest of the City of Cordoba and 200 kilometres northeast of the city of San Luis. The property is ideally located in terms of access and infrastructure (there are 13.2 and 33 kW power lines within 8 kilometres of the property) and the climate allows work year round. The Company is presently designing an aggressive exploration program to verify and potentially expand upon the historical resource.
* The Company cautions that the resource estimate was prepared before the introduction of NI 43-101, and is therefore historical in nature and the Company is not treating such resources as a current resource under NI 43-101. Investors are further cautioned that a qualified person has not yet completed sufficient work to be able to verify the historical resources, and therefore they should not be relied upon.