Vancouver, BC - HUDSON RESOURCES INC. (the "Company") - (TSX
Venture Exchange "HUD"; OTCQX "HUDRF") is pleased to announce
that assays from a five tonne bulk metallurgical sample,
collected on surface at the ST1 Zone, graded 2.5% Total Rare
Earth Oxides (TREO). Neodymium oxide averaged 20% of total
REO's.
James Tuer, Hudson's President, stated, "The extraction of
the five tonne metallurgical sample is very exciting for
several reasons. Firstly, it confirms the presence of a
significant amount of high-grade rare earth material at
surface. Secondly, and possibly more importantly, it provides
a sufficient quantity of material for us to take the
metallurgy through to pilot scale testing. This sample will
be incorporated into our updated resource model which we
expect to have out in the first quarter of 2012."
"As well, mineralogical studies conducted on the bulk sample
have confirmed that the rare earths are hosted within a
distinct "red" ankerite mineral in the ST1 body which
contains bastnaesite and monazite REEs. Our metallurgical
studies are focused on defining a process to extract these
common rare earth bearing minerals from the bulk material."
TREO | La2O3 | Ce2O3 | Pr2O3 | Nd2O3 | Sm2O3 | Eu2O3 | Gd2O3 |
24,979 | 5,153 | 12,585 | 1,464 | 5,055 | 407 | 82 | 110 |
Tb2O3 | Dy2O3 | Ho2O3 | Er2O3 | Tm2O3 | Yb203 | Lu2O3 | Y2O3 |
10.4 | 36.6 | 3.2 | 1.3 | 0.3 | 0.6 | 0.2 | 69.8 |
The sample was randomly bagged in the field and approximately
700kg was shipped by air to the GeoAnalytical Laboratories of
the Saskatchewan Research Council (SRC) in Saskatoon,
Saskatchewan. The balance of the sample was sent by ground
and has now been received by the SRC. The initial 700kg
sample was crushed and blended by the SRC and four separate
samples assayed by lithium meteborate fusion, followed by
dissolution in dilute HNO3 and ICP-MS analysis. A portion of
the bulk sample material was shipped to Ancaster Ontario for
processing at Activation Laboratories Ltd. (Actlabs) using
lithium borate fusion, acid dissolution and ICP-MS analysis.
Actlabs processed two separate assays. The results presented
in this press release represent the average of the results
from the two labs.
Metallurgical testwork of the ST1 Zone material is ongoing at
Hazen Research in Colorado, and the Saskatchewan Research
Counclil (SRC) in Saskatoon. Both SRC and Hazen are
conducting flotation tests. The entire metallurgical program
is being directed by Dr. John Goode who has more than 40
years experience in rare earth and resource projects.
Recent metallurgical testwork from SRC has demonstrated
successful extraction of rare earths utilizing acid baking
and leaching. Test work showed that two hours of baking, at
220°C and approximately one tonne of acid per tonne of
mineralized feed (concentrate) recovers 94% of the TREO.
Magnetic testwork and mineralogical studies are ongoing under
the direction of Dr. Peter LeCouteur, P.Eng. With respect to
the bulk sample, three hand specimens were examined
microscopically with the objective of quantifying the rare
earth element (REE) minerals present in the material. Samples
were examined in polished thin section by light microscope
and minerals of interest analyzed on an AMRAY 1810 scanning
electron microscope ("SEM") equipped with an EDAX "Genesis"
energy dispersive X-ray analyzer ("EDX" analyses). Key
findings are as follows:
Suite 1460 - 1066 West Hastings Street Tel: (604) 628-5002
Vancouver, B.C. V6E 3X1 Fax: (604) 688-3452
• The 2011 Safartoq bulk sample is a slightly oxidized
surface sample of ferrocarbonatite of the "ST1 Zone"
and consists mostly of Ca-Mg-Fe carbonates.
• The only REE minerals identified in the bulk sample are:
REE phosphate monazite-(Ce), REE
fluorocarbonate bastnäsite-(Ce), and Ca fluorocarbonate
synchysite-(Ce)
• The proportion of the three REE minerals varies from sample
to sample but overall it is estimated that about
50-70% of the REE are carried by monazite, 30-50 % by
bastnasite, and <5% by synchysite.
• The hematized "red" ankerite contains +95% of the rare
earth minerals and is distinct in colour from the other
minerals present as it is pigmented with iron oxide.
• About 90% of REE particles fall in a size range of 10 to
300 microns in length. All the REE minerals occur as
fine-grained single crystals that range from about 5 microns
to 80 microns long and as shapeless aggregates of such
crystals that are generally from 50 to 500 microns across but
occasionally up to 1 mm across.
Hudson recently released the results of a Preliminary
Economic Assessment (PEA) completed by Wardrop, A Tetra Tech
Company (Tetra Tech). Their Study shows a Net Present Value
of $616M and an Internal Rate of Return of 31.2 % with a 2.7
year pay-back period. The Study was based on the Company's
43-101 compliant inferred resource of 14.1Mt at 1.5% TREO at
the ST1 Zone. The ST1 Zone represents one of the industry's
highest ratios of neodymium and praseodymium to TREO,
totaling 25%, based on the inferred resource. It contains
over 40 million kilograms of neodymium oxide, which is the
key component in permanent magnets and the fastest growth
sector of the rare earths industry. A total 16,514m over 71
holes were drilled in 2011 and these results have not yet
been incorporated into either the resource estimate or the
PEA.
The Sarfartoq REE project is located within 20 km of
tidewater and only 60 km from Greenland's international
airport. The project is owned 100% by Hudson. The Company is
currently well financed with approximately $12.5 million in
working capital.
Dr. Michael Druecker is a qualified person as defined by
National Instrument 43-101 and reviewed the preparation of
the scientific and technical information in this press
release.
ON BEHALF OF THE BOARD OF DIRECTORS
"James Tuer"
James Tuer, President
For further information:James Tuer, President
Ph: 604-628-5002 or 604-688-3415 tuer@hudsonresources.ca
Forward-Looking StatementsThis news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this news release, including, without limitation, statements regarding plans for the completion of a financing and the intended terms and use of proceeds thereof, and other future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include market prices, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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.
Suite 1460 - 1066 West Hastings Street Tel: (604) 628-5002
Vancouver, B.C. V6E 3X1 Fax: (604) 688-3452
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HUDSON 5 TONNE BULK METALLURGICAL SURFACE SAMPLE GRADES 2.5% TREO - SARFARTOQ RARE EARTH PROJECT, GREENLAND |