Tasman retains Pincock Allen & Holt for Preliminary Economic Assessment of Norra Karr heavy rare earth element project
VANCOUVER, Aug. 9, 2011 /CNW/ --
VANCOUVER, Aug. 9, 2011 /CNW/ - Tasman Metals Ltd. ('Tasman' or the 'Company') (TSXV - TSM) (Frankfurt
- T61) (Pink Sheets - TASXF). Mark Saxon, President & CEO reports that Tasman has awarded the contract
for the Preliminary Economic Assessment (PEA) of the Company's 100%
owned Norra Karr heavy rare earth element (HREE) and zirconium project
in Sweden to independent consultants Pincock, Allen & Holt (PAH) of
Colorado. The study will commence in August and is expected to be
completed by before the end of 2011.
The PEA will use the updated NI 43-101 resource calculation currently
being determined by PAH, and the metallurgical and mineral processing
data being generated by SGS Minerals Services to determine and describe
the scope of the potential future mining operation at Norra Karr.
'Tasman is pleased to have the internationally recognized technical
group at PAH undertaking the Company's preliminary economic assessment
of the Norra Karr project' said Mark Saxon, Tasman's President & CEO.
'The PEA is the first major technical, financial and engineering study
to be performed on the Nora Karr project and pending a positive
outcome, Tasman expects advance rapidly into the launch of the
prefeasibility study in early 2012. Norra Karr's existing
infrastructure and high grades of the highly sought REE dysprosium sets
it apart from its peers in the heavy REE space.'
Norra Karr is located in southern Sweden, 300km SW of the capital
Stockholm and lies in mixed farming and forestry land. The site is
well serviced by power, roads and water allowing all year round access,
plus a local skilled community. For an overview of the infrastructure
and resource at site, please see a recent 3D fly through video at http://www.tasmanmetals.com/i/videos/video1/index.html.
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development
company focused on Rare Earth Elements (REE's) in the European region
and is listed on the TSX Venture Exchange under the symbol 'TSM'. REE
demand is increasing, due to the metals unique properties that make
them essential for high technology and environmentally-beneficial
applications. Since over 95% of REE supply is sourced from China, the
European Union is actively supporting policy to promote domestic supply
of REE's, to ensure the security of high-tech industry. Tasman's
exploration portfolio is uniquely placed, with the capacity to deliver
'high-tech' metals from politically stable, mining friendly
jurisdictions with developed infrastructure.
The Company's Norra Karr project in Sweden is one of the most
significant heavy REE resources in the world, and the only NI43-101
compliant REE resource in mainland Europe. With a TREO (total rare
earth oxide) cut off of 0.4%, the Inferred Mineral Resource comprises
60.5 million tonnes grading 0.54% TREO and 1.72% ZrO2 (zirconium
oxide), with 53.7% of the TREO being the higher value HREO (heavy rare
earth oxide). The resource is unusually low in radioactive metals
relative to peer projects, with less than 15 ppm each of uranium and
thorium.
For more information regarding rare earth elements, see the Rare Metal
Blog at www.raremetalblog.com or Resource Stock Digest at http://strategicmetalstocks.resourcestockdigest.com/.
On behalf of the Board,
'Mark Saxon'
Mark Saxon, President & CEO
The qualified person for the Company's exploration projects, Mark Saxon,
President and Chief Executive Officer of Tasman and a Member of the
Australasian Institute of Mining and Metallurgy and Australian
Institute of Geoscientists, has reviewed and verified the contents of
this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange),
nor the Frankfurt Stock Exchange accepts responsibility for the
adequacy or accuracy of this news release.
Cautionary Note to U.S. Investors Concerning Estimates of Inferred
Resources. This news release uses the term 'inferred mineral resource.' We
advise U.S. investors that this term is not recognized by the U.S.
Securities and Exchange Commission. The estimation of inferrred
resources involves far greater uncertainty as to their existence and
economic viability than the estimation of other categories of
resources. U.S. investors are cautioned not to assume that estimates
of inferred mineral resources exist, are economically minable, or will
be upgraded into measured or indicated mineral resources.
Forward Looking Statements. This Company news release contains certain 'forward-looking' statements
and information relating to the Company that are based on the beliefs
of the Company's management as well as assumptions made by and
information currently available to the Company's management. Such
statements reflect the current risks, uncertainties and assumptions
related to certain factors including, without limitations, competitive
factors, general economic conditions, customer relations, relationships
with vendors and strategic partners, the interest rate environment,
governmental regulation and supervision, seasonality, technological
change, changes in industry practices, and one-time events. Should any
one or more of these risks or uncertainties materialize, or should any
underlying assumptions prove incorrect, actual results may vary
materially from those described herein.
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Investor Information
www.tasmanmetals.com
1305 - 1090 West Georgia St., Vancouver, BC, V6E 3V7
Company Contact: Mariana Bermudez 1 (604) 685 9316
Investor Relation Consultants - Mining Interactive
Nick Nicolaas 1 (604) 657 4058
Email: info@tasmanmetals.com