Current Price

TSX-V: SMY

$0.04

-0.02

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Projects

Port Hope Simpson REE District

Foxtrot Project

Fox Harbour Zone

The Phase I program at the Foxtrot Prospect consisted of 23 holes, drilled in late 2010 and early 2011 (refer to the May 26, 2011 news release). REE-Zr-Y-Nb mineralization was intersected at depths of 50m and 100m along a 2km strike length. Mineralization consists of fergusonite, allanite and zircon in metamorphosed fine-grained felsic volcanic rocks.

The Phase II program (20 holes) was completed in the summer of 2011 (refer to the August 30, 2011 news release). It was designed to intersect mineralization at 50m, 100m, 150m, and 200m depths along a 500m strike length. Mineralization was intersected in all holes and the grades and geology of the mineralization remain relatively constant throughout the 500m of strike length.

The Phase III program was completed in February 2012, and consisted of 29 holes, accounting for approximately 11,000m (refer to the April 27, 2012 news release). It was designed to intersect mineralization at depths of 50,100,150, 200, 250, 300, 350, 400, and 450m along a 600m strike length. Mineralization was intersected in all drill holes (true thickness ranging from 2-25m), and was proven to extend to at least 450m (open at depth).

The field/research program at the Foxtrot Prospect is being completed to support the NI 43-101 report. A detailed ground magnetic survey map, detailed channel logs and geochemical data, and a detailed outcrop geology map have been produced. The Fox Harbour mineralized belt regional exploration program is continuing and includes a regional ground magnetic survey, channel sampling and logging, sampling and prospecting, and geological mapping. The target of the regional program is Foxtrot-like REE-Zr-Y-Nb mineralization within the 35km long Fox Harbour volcanic belt.