DNI's REE-Y-Sc-Th Resource Study Report for the Buckton Mineralized Zone, Alberta, Filed to SEDAR
30 January 2012 - 6:26PM
PR Newswire (Canada)
DNI METALS INC. TORONTO, Feb. 1, 2012 /CNW/ - DNI Metals Inc. is
pleased to announce that the supplemental resource study related to
Rare Earth Elements (REE) and Specialty metals contained within its
Buckton polymetallic black shale hosted Zone has been filed to
SEDAR. A summary of findings from the study were announced in a
press release issued January 16, 2012. The full report, "Technical
Report, Supplementary REE-Y-Sc-Th, Inferred Resource Estimate To
Accompany The Maiden Resource Mo-Ni-U-V-Zn-Cu-Co-Li Estimate,
Buckton Mineralized Zone, SBH Property, Northeast Alberta", January
29, 2012, Effective date January 13, 2012, by APEX Geoscience Ltd.,
can be obtained from www.sedar.com and from DNI's website
www.dnimetals.com. The Supplementary REE-Y-Sc-Th resource study
report was prepared by APEX Geoscience Ltd., Edmonton, and it
reports an inferred resource for REE-Y-Sc-Th contained within the
250,092,000 short ton Buckton maiden inferred resource which
previously related only to Base metals, Uranium and Lithium
(announced Oct24/2011). The REE-Y-Sc-Th resource, announced January
16, 2012, is supplemental to the Mo-Ni-U-V-Zn-Cu-Co-Li Buckton
maiden inferred resource, all of which are hosted in a 5.7 sq km
portion of the Buckton Mineralized Zone believed to extend over 26
sq km. To the extent that REE-Y-Sc-Th are incidentally recovered
during leaching of base metals from the mineralized black shales
comprising the Zone, they are co-products which can be expected to
offer additional value recoverable from the Buckton Zone.
Recoverable grades and metal/oxide quantities for Base metals,
Uranium, REE and Specialty Metals hosted in the Buckton inferred
resource are summarized below consolidating findings of the two
above resource studies. Buckton Inferred Resource - 250 million
tons Recoverable Base Metals+U+Li Metal/Oxide Grade (lb/ton)
Recoverable Metal/Oxide (lbs) MoO3 0.12 28,656,000 Ni 0.27
66,454,000 U3O8 0.07 16,513,000 V2O5 1.03 257,604,000 Zn 0.54
136,065,000 Cu 0.09 22,832,000 Co 0.04 10,412,000 Li2CO3 0.30
75,507,000 lb=pound; ton=short ton Buckton Inferred Resource - 250
million tons Recoverable Co-Product REE+Sc+Th Oxide Grade (lb/ton)
Recoverable Oxide (lbs) HREOY 0.16 40,312,149 LREO 0.32 80,436,233
TREOY 0.48 120,748,382 Sc2O3 0.019 4,731,272 ThO2 0.018 4,553,283
Additional work is ongoing to optimize leaching parameters for
enhanced metal recoveries for some of the metals and REEs. Plans
are to shortly initiate a stand-alone resource study to investigate
the significance of specialty metals and REEs contained in the
approximately 760 million short tons of overburden cover rocks
above the Buckton inferred resource to determine whether they are
indeed "waste" material or volumes which might add value to the
Buckton resource. Results from this work will be announced as
received. For detailed information related to the Buckton maiden
inferred resource as it relates to base metals, Uranium and Li, see
the resource study report "Technical Report, Maiden Resource
Estimate, Buckton, Mineralized Zone, SBH Property, Northeast
Alberta", October 18, 2011, Effective date September 30, 2011, by
APEX Geoscience Ltd. This report is available from www.sedar.com
and from DNI's website www.dnimetals.com. Report date and effective
date for the Supplementary REE-Y-Sc-Th resource study previously
announced as December 22, 2011, and January 18, 2012, respectively,
were subsequently revised to January 29, 2012, and January 13,
2012, respectively. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. DNI - TSX Venture DG7 -
Frankfurt Issued: 64,376,534 We seek Safe Harbour. This
announcement includes forward looking statements. While these
statements represent DNI's best current judgment, they are subject
to risks and uncertainties that could cause actual results to vary,
including risk factors listed in DNI's Annual Information Form and
its MD&As, all of which are available from SEDAR and on its
website. DNI Metals Inc. CONTACT: DNI Metals Inc. - Shahe
Sabag, President & CEO or Denis Clement,Chairman -
416-595-1195email ir@dnimetals.com. Also visit www.dnimetals.com.
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