- Coarse ore leaching at room temperature has been shown to recover 85% Yttrium and 81% Dysprosium in an independent study
- Breakthrough discovery of Beryllium and Lithium Recovery from Round Top rhyolite (see separate news release) holds additional potential revenue opportunity
- Study paves the way for potential significant capital cost savings
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 third party confirmation by ALS Ltd. of Canada of in-house research that indicates the possibility of heap leaching Round Top rock. The results of this independent test are summarized below:
A sieved 2 to 4 mm (~1/8th to 1/4 inch) fraction of the composite rhyolite sample being used for all metallurgical testing was submitted to Mountain States R&D International of Vail, Arizona to confirm our in house research. This sample was leached in 14.7 gm/l (14.7% by wt) sulfuric acid at room temperature for two weeks. The ore and duplicate splits of the residue were analyzed by ALS Ltd. of Canada. These preliminary data derived from R&D efforts to determine the best processing option for this multi-element resource should be considered as indicative and deserving of ongoing studies to develop a technically and economically viable flowsheet.
These results verify our internal data and demonstrate that it is possible to achieve reasonably high recoveries of many of the heavy rare earth elements contained at Round Top and, in particular, our high-value heavy rare earth elements, Dysprosium and Yttrium. The recovery of 51% of the contained uranium also holds potential to add another by-product revenue stream to our potential operation.
In addition to these leach tests, crushing tests done at Resource Development Inc. of Denver, Colorado show that whole rock crushed to 100% passing 1/2 inch yields only 2% passing through the 150 mesh screen (approximately 100 microns).
Dan Gorski, CEO, commented, "The high recoveries of the target heavy rare earth elements in a relatively short leaching time and the low percentage of fines generated during crushing encourage us to continue research on the possibility of heap leaching Round Top rock. The lack of significant fine (<100 micron) material gives rise to the possibility of leach solutions being able to efficiently penetrate and drain from this crushed rock on a leach pad. Work to optimize crush size, acid strength and leach time continues."
Although today's reported leach results are marginally lower than those reported in our April 16th press release describing our hot acid leach results, under the heap leach scenario being considered, overall recoveries could potentially be higher and the attendant capital costs significantly lowered by elimination of the floatation section of the process.
*La=Lanthanum, Ce=Cerium, Pr=Praseodymium, Nd=Neodymium, Sm=Samarium, Eu=Europium, Gd=Gadolinium, Tb=Terbium, Dy=Dysprosium, Ho=Holmium, Er=Erbium, Tm=Thulium, Lu=Lutetium, Yb=Ytterbium, Y=Yttrium, Th=Thorium, U=Uranium, Be=Beryllium, Li=Lithium
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 potential future recoveries, results deserving ongoing studies, potential leach penetration and drainage on a leach pad, continuing work to optimize crush size, acid strength and leach times and the potential for overall recovery to improve and costs go down by elimination of the floatation section of the process. 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.