TORONTO--(BUSINESS WIRE)-- Robert Mackay, President and CEO of Stans Energy Corp. (TSX-V: HRE, OTCQX: HREEF), (“Stans” or the “Company”), is pleased to report that the Company has resumed drilling its Kutessay-II Heavy Rare Earth Elements (HREEs) mine, as part of Stans Energy’s 2012 Exploration Campaign.
Originally, a 10-hole, diamond drill program was planned for the 2012 exploration season, however, preliminary results from the first 9 holes, completed before the Company’s license was suspended in September, intersected new mineralization contained within the pit outline. Holes #10 and #11 are currently underway and both are scheduled to test a depth of 250 m. Completed assays of all 11 holes are expected to be released in November.
The Company would also like to report that management has been invited to participate at a Rare Earth Geology, Chemistry, Production, and Application Conference, hosted by its technical partners VNIIHT- The Scientific-Research Institute of Chemical Technology, from October 29 to 31 in Moscow. Robert Mackay, President and CEO of Stans Energy, will be providing an address to attendees on the topic of, “Issues Facing REE Companies in Various Jurisdictions.” In addition to senior members of VNIIHT, speakers and attendees at the conference will include representatives from the following organizations:
For further information about this conference, please visit www.vniiht.ru/rmz-2012.
Robert Mackay, President and CEO of Stans Energy stated, “It is an honour for me to participate at VNIIHT’s conference with such esteemed rare earth experts and business leaders. I cannot stress enough how our company’s working relationship with VNIIHT has dramatically assisted our understanding of what it takes to build a rare earth mine and processing plant. This conference provides our Company with the opportunity to enhance our relationships with potential business partners, technology experts, and end users. In regards to Stans Energy’s Exploration Campaign, I am encouraged that our geologists have resumed the drilling program at Kutessay II; testing new mineralized zones not yet included in our JORC resource estimates. These additional drilling results will provide essential information for our mine plan and our ongoing feasibility studies.”
The Russian Research Institute of Chemical Technology (VNIIHT) was founded in April 1951. VNIIHT’s objective was to focus on the exploration and development of technologies and raw materials for use in the Soviet nuclear energy sector. VNIIHT technologies were, and continue to be implemented during the main stages of the nuclear fuel cycle. This includes the processing of Uranium and Rare Metal Ores through to the generation of nuclear-pure materials. VNIIHT’s sixty years of chemical technology experience combined with their capabilities of executing the complete cycle of rare earths research, development, and production will give Stans Energy a significant advantage relative to its competitors outside of China
About Stans Energy
Stans Energy Corp. is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the Former Soviet Union. In December 2009, Stans acquired a 20-year mining license for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II. The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For over 30 years, Kutessay II produced 80% of the rare earth metals for the former Soviet Union.
We seek safe harbour.
FORWARD LOOKING STATEMENTS: This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, use of proceeds from the Offering, the completion of the Offering, the continued advancement of the company's general business development, research development and the company's development of mineral exploration projects. When used in this press release , the words “will”, “shall”, "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although Stans Energy Corp. believes that their expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statement. Important factors that could cause actual results to differ from these forward-looking statements include the potential that fluctuations in the marketplace for the sale of minerals, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.
Source: Stans Energy Corp