SYS-CON MEDIA Authors: Pat Romanski, Gary Arora, Zakia Bouachraoui, Yeshim Deniz, Liz McMillan

News Feed Item

Stelmine Acquires 9 Rare Earth Elements Properties in the Sept-Iles Region

MONTREAL, QUEBEC -- (Marketwire) -- 01/18/10 -- Stelmine Canada Ltd. ("Stelmine"), (TSX VENTURE: STH) today announced the closing of an acquisition agreement under which the company can acquire up to a 100% interest in 9 mining claims, covering an area of 540 hectares in Abbadi Township, 52 kilometers northwest of Sept-Iles in the Province of Quebec.

This is a highly strategic acquisition for the company, which is part of a continuous pattern of rare earth acquisitions.

An aerial radiometric survey and trench sampling performed by SOQUEM in 1976 led to the discovery of three major showings oriented NW-SE. The minerals observed in these three showings are fergusonite, chevkinite, gadolinite, pyrochlore, zircon, monazite, allanite and ferrocolombite.

The J6L1-Centre anomaly:

This is a radiometric anomaly corresponding to a mineralized zone 50 metres long, containing several mineralized horizons one metre or more wide in a quartzofeldspathic gneiss. Mineralization takes the form of a much folded band enriched with quartz-zircon. The samples gave average assays of 0.522% Nb2O5 over 11 metres. The other significant assays obtained are 1.08% Y, 0.455% La, 9.45% Zr, 0.032% U3O8 and 0.025% ThO2.

The J6L1-West anomaly:

This is a mineralized zone located in a quartzofeldspathic gneiss and a high migmatized granitic gneiss. Radioactivity is continuous and mineralization is concentrated in the quartz-rich veins with accessory microcline, albite and zircon. The mineralized zone presents a definite spatial continued and continues beyond the northern limit. The best intersection obtained in trench sampling was 2.35% Nb2O5, 0.58% Y, 0.12% La, 2.90 Zr, 0.05% U3O8, and 0.02% ThO2. The maximum assays attained are 0.22% Ta2O5, 3.11% La and 7.8% Zr.

The J6L1-Est anomaly:

This is a mineralized zone located in a paragneiss. Mineralization is discontinuous with erratic rare earth and thorium assays. The best intersection obtained in trench sampling was 0.47% Nb2O5, 0.021% Ta2O5, 0.0296% U3O8, and 0.0591% ThO2 over a 1.5 metre distance.

Stelmine can acquire a 100% interest by paying $75,000, issuing 475,000 shares of stock and earning $100,000 in the first year, and by paying $50,000 and issuing 175,000 shares of stock in the second year.

On November 23, 2009, the company already announced the acquisition of rare earth properties in the Kipawa alkaline region, which covers an area of 1,775 hectares where showings were announced of 11.3% REE by Matamec Resources and 4.4 % REE by Fieldex Exploration.

On December 3, 2009, the company announced the closing of an acquisition agreement, under which the company can acquire up to a 100% interest in 6 mining claims covering an area of 360 hectares, divided into 3 blocks, located in the Wakefield Alkaline Complex north of Gatineau, Quebec, where the compilation of historical work has shown three major rare earth anomalies with values ranging up to more than 4% REE.

On December 15, 2009, the company announced the closing of an acquisition agreement, under which the company can acquire up to a 100% interest in 80 mining claims covering an area of 4,800 hectares divided into 5 blocks, located in the Wakefield Alkaline Complex north of Gatineau, Quebec.

This new acquisition is part of Stelmine's strategy of aggressively acquiring properties with high rare earth potential in Quebec in different geological environments well known for their potential for this type of mineralization.


Stelmine's management is very pleased with this acquisition, which is consistent with the new rare earth development orientation that management wants to give the company.

To date, the company holds rare earth properties in four regions of the Province of Quebec for a total of 7,475 hectares.

Stelmine Canada Ltd. is a junior exploration company listed on the TSX Venture Exchange under the symbol STH.

The TSX Venture Exchange does not accept responsibility for the relevance or accuracy of this press release.

Stelmine Canada Ltd.
Michel Lemay
President and Chief Executive Officer
514-866-8096 (FAX)

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud is the motor for innovation and digital transformation. CIOs will run 25% of total application workloads in the cloud by the end of 2018, based on recent Morgan Stanley report. Having the right enterprise cloud strategy in place, often in a multi cloud environment, also helps companies become a more intelligent business. Companies that master this path have something in common: they create a culture of continuous innovation. In his presentation, Dilipkumar Khandelwal outlined the latest...
The dream is universal: heuristic driven, global business operations without interruption so that nobody has to wake up at 4am to solve a problem. Building upon Nutanix Acropolis software defined storage, virtualization, and networking platform, Mark will demonstrate business lifecycle automation with freedom of choice and consumption models. Hybrid cloud applications and operations are controllable by the Nutanix Prism control plane with Calm automation, which can weave together the following: ...
Every organization is facing their own Digital Transformation as they attempt to stay ahead of the competition, or worse, just keep up. Each new opportunity, whether embracing machine learning, IoT, or a cloud migration, seems to bring new development, deployment, and management models. The results are more diverse and federated computing models than any time in our history.
Andrew Keys is co-founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereum.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science" is responsible for guiding the technology strategy within Hitachi Vantara for IoT and Analytics. Bill brings a balanced business-technology approach that focuses on business outcomes to drive data, analytics and technology decisions that underpin an organization's digital transformation strategy. Bill has a very impressive background which includes ...
Most modern computer languages embed a lot of metadata in their application. We show how this goldmine of data from a runtime environment like production or staging can be used to increase profits. Adi conceptualized the Crosscode platform after spending over 25 years working for large enterprise companies like HP, Cisco, IBM, UHG and personally experiencing the challenges that prevent companies from quickly making changes to their technology, due to the complexity of their enterprise. An accomp...
Darktrace is the world's leading AI company for cyber security. Created by mathematicians from the University of Cambridge, Darktrace's Enterprise Immune System is the first non-consumer application of machine learning to work at scale, across all network types, from physical, virtualized, and cloud, through to IoT and industrial control systems. Installed as a self-configuring cyber defense platform, Darktrace continuously learns what is ‘normal' for all devices and users, updating its understa...
While a hybrid cloud can ease that transition, designing and deploy that hybrid cloud still offers challenges for organizations concerned about lack of available cloud skillsets within their organization. Managed service providers offer a unique opportunity to fill those gaps and get organizations of all sizes on a hybrid cloud that meets their comfort level, while delivering enhanced benefits for cost, efficiency, agility, mobility, and elasticity.
Most organizations are awash today in data and IT systems, yet they're still struggling mightily to use these invaluable assets to meet the rising demand for new digital solutions and customer experiences that drive innovation and growth. What's lacking are potent and effective ways to rapidly combine together on-premises IT and the numerous commercial clouds that the average organization has in place today into effective new business solutions. New research shows that delivering on multicloud e...
On-premise or off, you have powerful tools available to maximize the value of your infrastructure and you demand more visibility and operational control. Fortunately, data center management tools keep a vigil on memory contestation, power, thermal consumption, server health, and utilization, allowing better control no matter your cloud's shape. In this session, learn how Intel software tools enable real-time monitoring and precise management to lower operational costs and optimize infrastructure...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City. Our Silicon Valley 2019 schedule will showcase 200 keynotes, sessions, general sessions, power panels, and...
Moving to Azure is the path to digital transformation, but not every journey is effective. Organizations that start with a cohesive, well-planned migration strategy can avoid common mistakes and stay a step ahead of the competition. Learn from Atmosera CEO, Jon Thomsen about the opportunities and challenges found in three pivotal phases of the journey to the cloud: Evaluation and Architecting, Migration and Management, and Optimization & Innovation. In each phase, there are distinct insights tha...
Data center, on-premise, public-cloud, private-cloud, multi-cloud, hybrid-cloud, IoT, AI, edge, SaaS, PaaS... it's an availability, security, performance and integration nightmare even for the best of the best IT experts. Organizations realize the tremendous benefits of everything the digital transformation has to offer. Cloud adoption rates are increasing significantly, and IT budgets are morphing to follow suit. But distributing applications and infrastructure around increases risk, introdu...
DevOps has long focused on reinventing the SDLC (e.g. with CI/CD, ARA, pipeline automation etc.), while reinvention of IT Ops has lagged. However, new approaches like Site Reliability Engineering, Observability, Containerization, Operations Analytics, and ML/AI are driving a resurgence of IT Ops. In this session our expert panel will focus on how these new ideas are [putting the Ops back in DevOps orbringing modern IT Ops to DevOps].