Rare Earth Element Discovery and Development in Labrador
Search Minerals (through its wholly-owned subsidiary Alterra Resources) is the discoverer of the Port Hope Simpson Rare Earth Element ("REE") District, a highly prospective light and heavy REE belt located in southeast Labrador, where the company controls a dominant land position in a belt 135km long and up to 12km wide. This area has excellent infrastructure, which could potentially aid in the development and ultimate fast-track to production of a REE mine. In 2012, the Company published its first NI 43-101 resource estimate on its Foxtrot Project located in the Port Hope Simpson REE District, and, in March 2013, the Company released a revised Preliminary Economic Assessment (PEA) on the Foxtrot Project.
In addition, Search has a number of other mineral prospects in its portfolio located in Newfoundland and Labrador, including a number of claims in the Strange Lake Complex (REE), where Quest Rare Minerals has an earn-in agreement with the Company; and at the Red Wine Complex (REE), where Great Western Minerals Group has a joint venture agreement with the Company.
Search is led by a management team and board with a proven track record in the mining industry. The Company has experienced geological and metallurgical teams led by Dr. Randy Miller and Dr. David Dreisinger respectively.