ONTARIO – Toronto-based Pele Mountain Resources is the first of many Canadian rare earth exploration companies to assemble 43-101-compliant estimates for its project. The property in question is the Eco Ridge uranium and rare earths project in Elliot Lake.
The Eco Ridge numbers include 14.3 million tonnes at 0.048% U3O8 and 0.164% TREO in the indicated category plus 33.1 million tonnes at 0.043% U3O8 and 0.132% TREO in the indicated category. The deposit is open to the north and east. The rare earths estimate is based on 123 recent drill holes.
The Elliot Lake camp was famous for its production of uranium during the mid-20th Century. Lesser known was that it was the only Canadian mining camp to produce rare earth oxides (REO). Pele Mountain believes Eco Ridge has the potential to be a primary uranium mine producing REO as byproducts.
More information about Eco Ridge is posted at www.PeleMountain.com.