THOR consists of approximately 267 unpatented lode claims covering approximately 2170 hectares. The project is located in an active mining district in
Historic petrographic studies and geologic mapping indicate that the REE mineralization at THOR appears to have formed, in large part, from the rock body itself (host unit), and is therefore of magmatic origin. Mineralization of magmatic origin has the potential for an REE bearing system of significant size. Historic magnetic/radiometric surveys, geologic mapping, and results of 2012 drilling provide supportive evidence that the Lopez Trend may be the overturned east limb of a very large, tight to isoclinal fold. This hypothetical fold closure/hinge zone and west limb are covered/hidden by thin alluvial cover (please see
In early April of this year, a total of 27 rock samples were collected from 6 different locales at THOR in conjunction with the final stages of a NI 43-101 report. These samples were collected from the southern, central and northern parts of the project’s Lopez Trend as well as at East Black Butte and from two locations at West Black Butte (Figure 1). The REE mineralized Lopez Trend is 2.5 km long and the majority of mineralization occurs along, or near a layered intrusive lithologic contact. It is estimated that outcrop exposures along the Lopez Trend vary from 10 - 20% with the large majority of the trend covered with shallow alluvium and subcrop float. At the West Black Butte area, outcrop exposure is estimated to be <5%.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6decb2b9-7bd4-429e-8b89-b9d40896c27b
Figure 1 above: TREO assay highlight results from primarily rock channel samples (see Table/Figure 2 below for sample type) from six different areas at THOR. These six areas are South Lopez, Central Lopez, North Lopez, West Black Butte (2 areas), and East Black Butte.
Assay results recently received from
Consecutive channel samples across historic (1950’s) workings at South Lopez returned assays of 2.72% TREO (total rare earth oxide) across 15 feet or 4.57 meters including one 3 foot (0.91m) sample that assayed 5.5% TREO and one select 1 foot (0.30 m) sample that assayed 6.4% TREO (see Figure 1). Two composite dump samples from this area assayed 6.3% and 5.0% TREO, respectively. Consecutive channel samples collected across two outcrops in the North Lopez Trend assayed 2.6% TREO across 7 feet (2.13 m) and 1.7% TREO across 12 feet (3.66 m). Very anomalous channel samples ranging from 0.2% - 2.0% TREO are present at Central Lopez, East Black Butte, and THOR’s West Black Butte areas.
Table/Figure 2 below shows the assay results from the 27 samples collected in early
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b6b8085d-0416-43b4-b2e2-9f77621385bf
Of the 27 rock samples, 21 returned assays with 0.5% or more TREO. Heavy REO as a percentage of TREO ranged from approximately 6.0 - 11.5% with South Lopez samples and 13.2 - 17.6% at North Lopez. Magnet REO which is composed of Pr2O3, Nd2O3, Tb2O3 and Dy2O3 varied from 22% to 24% of TREO in these 21 samples. As noted earlier in this press release, Magnet REO are the critical 4 REE’s that account for 95% of total value of global rare earth oxide. (Adamas Intelligence – Rare Earth Market Outlook to 2035 – Q2 2022 )
“The success of this program greatly validates the potential THOR holds towards our objective of becoming a major part of the global heavy and light REE supply chain,” said
THOR is wholly owned by
Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the
Analytical Procedures:
All samples referenced in this press release were analyzed by
Qualified Person:
The technical content disclosed in the press release was reviewed and approved by
About
Selten Metal was incorporated in May of 2021 and, pursuant to the Option, Selten Metal holds an option to acquire up to a 100% interested in the THOR project, consisting of roughly 2,170 hectares located in
German for "rare," the word "Selten" represents
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Email: invest@seltenmetal.com www.seltenmetal.com
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the assay results of the surface rock and channel sampling program at THOR; Selten Metal’s objectives, goals or future plans; and the commencement and completion of exploration or drilling programs at THOR. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such actors include, but are not limited to: general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forwardlooking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Selten Metal disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Figure 1
TREO Assay Highlights from Rock Channel and Dump Composite Samples April 2022 , THOR Project , Clark County, Nevada
Figure 2
THOR Rock Sample Assays - April 2022
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