- Recoveries of Beryllium and Lithium From Whole Rock Leaching at Room Temperature Suggest Extra Potential Revenue Streams From Round Top Project
SIERRA BLANCA, Texas, May 8, 2013 (GLOBE NEWSWIRE) -- Texas Rare Earth Resources Corp. (OTCQX:TRER) ("Texas Rare Earth"), a heavy rare earths exploration company, is pleased to announce the recovery of beryllium and lithium in leach solutions of Round Top rhyolite. It was previously thought that potentially economically important beryllium mineralization was limited to the contact zone at the base of the rhyolite, where a definitive feasibility study for a beryllium mine was done by Cyprus Minerals in the 1980's. A portion of the trace amounts of these elements that pervade the bulk rock now appear to be potentially recoverable by heap leach.
Whole rock leaching of sieved 2 to 4 mm (~1/8th to 1/4 inch) rhyolite particles tested at Mountain States R&D International of Vail, Arizona at room temperature in 14.7 gm/l (14.7% by wt) sulfuric acid for two weeks yielded potentially economically significant amounts of beryllium and lithium. Initial test results are summarized below:
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The results from Mountain States and analysis by ALS Ltd of Canada suggest that an operation mining and processing 14,500 tonnes per day could recover into solution annually approximately 22 tonnes of beryllium metal and 1,340 tonnes of lithium metal or approximately 62 tonnes of beryllium oxide and 7,173 tonnes of lithium carbonate, respectively. The potential economic significance of the presence of these non-rare earth elements in the leaching solution is the fact that once dissolved, they must be removed either to be disposed of as waste or to be sold as a commodity. Stripping metals from solution is typically by a well-established process.
Beryllium is used in high-tech alloys, ceramics and electronics; lithium is a crucial component of the Li-ion batteries that power many portable electronic devices including electric vehicles. Prices for these commodities are believed to be high enough to warrant further work on economic possibilities of these metals.
Dan Gorski, CEO, commented, "We regard the results thus far obtained on recovery of beryllium and lithium as a material development. TRER is fortunate to have a deposit where a variety of elements such as uranium, thorium, beryllium, lithium, manganese, zinc and rubidium report to the sulfuric acid leach solutions. We plan to aggressively pursue the possibility to produce a marketable product of all these elements. Adding a diversified revenue stream from these by-products would potentially both increase the profitability and decrease the risk of the mine."
About Texas Rare Earth Resources Corp.
Texas Rare Earth Resources Corp.'s primary focus is exploring and, if warranted, developing its Round Top rare earth minerals project located in Hudspeth County, Texas, 85 miles east of El Paso. The Company's common stock trades on the OTCQX U.S. tier under the symbol "TRER." For more information on Texas Rare Earth Resources Corp., visit its website at www.trer.com.
This press release contains forward-looking statements within the meaning of the U.S. Securities Act of 1933, as amended, and U.S. Securities Exchange Act of 1934, as amended, including, but not limited to, statements regarding the potential to recover and the amounts of recovery of beryllium and lithium through heap leach mining at the Round Top Project, the recovery of beryllium and lithium from solution through established processes, the possibility of producing marketable products for various elements found at the Round Top Project, adding a revenue stream from the beryllium and lithium by-products potentially increasing profitability and decreasing risk of the mine and other such similar statements.. When used in this press release, the words "potential," "indicate," "expect," "intend," "hopes," "believe," "may," "will," "if, "anticipate," and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, risks related to changes in future operating costs and working capital balance, risks related to mineral estimates, risks related to mining results not matching preliminary tests and risks related to the ability of the company to successfully monetize its non-rare earth resources, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K, as filed on November 15, 2012, and other documents filed with the U.S. Securities and Exchange Commission. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.
CONTACT: Texas Rare Earth Resources Corp. John C. Tumazos, CFA, Chairman of the Board Phone: 732.444.1083 E-mail: email@example.com Investor Contact: Alliance Advisors, LLC Alan Sheinwald Phone: (914) 669-0222 E-mail: firstname.lastname@example.org Valter Pinto Phone: (914) 669-0222 x201 E-mail: email@example.comSource:Texas Rare Earth Resources Corp.