Resource World Magazine

12 www.resourceworld.com F E B R U A R Y / M A R C H 2 0 1 4 FISSION URANIUM CORP. Fission Uranium Corp. [FCU-TSXV; FCUUF-OTCQX; 2FU-FSE] and 50/50 part- ner Alpha Minerals (now acquired) made a remarkable high-grade, shallow uranium discovery at the road-accessible Patterson Lake South Project in the Athabasca Basin of northern Saskatchewan, a region of pro - ducing, high-grade uranium mines. Six open-ended mineralized zones have been found along a strike length of 1.76 km. Drilling highlights include hole PLS13-072 that returned 34.5 metres grading 8.15% U 3 O 8 , including 7.5 metres of 19.28% U 3 O 8 . Hole PLS13-080 returned nine mineralized intervals, including a continuous high-grade sub-interval of 14.0 metres of 15.63% U 3 O 8 in 43.0 metres of 6.93% U 3 O 8 . Currently, a large coverage, $500,000 radon-in-lake survey is following up on 10 geophysics- identified basement electromagnetic (EM) conductors. The survey is expected to play an important role in targeting and prioritiz - ing new holes. AVALON RARE METALS INC. Avalon Rare Metals Inc. [AVL-TSX, NYSE MKT] has been advancing its 100%-owned flagship project – the Nechalacho rare earth elements project, located primarily at Thor Lake, Northwest Territories. Measured and indicated resources for the Basal Zone total 61.90 million tonnes grading 1.64% total rare earth oxides (TREO) and 0.35% heavy rare earth oxides (HREO), with 21.53% HREO/TREO using the base case Net Metal Return cut-off of US $345/tonne. The updated resource includes drill results from the winter 2013 drill pro - gram and the 2012 summer drill program. Avalon has other rare metals and min- erals projects in Canada, of which three are at an advanced stage. These are: Separation Rapids (lithium - petalite) in Ontario; Warren Township (calcium feldspar) in Ontario and East Kemptville (tin-indium-gallium-germanium) in Nova Scotia. QUEST RARE MINERALS LTD. Quest Rare Minerals Ltd. [QRM-TSX, NYSE MKT], in October 2013, announced the results of a positive Pre-Feasibility Study (PFS) for the B-Zone deposit at its 100%- owned Strange Lake rare earth project in northeast Quebec. Indicated resources are 278,128,000 tonnes averaging 0.93% total rare earth oxides (TREO), 1.92% zirco - nium oxide, 0.18% niobium pentoxide and 0.05% hafnium oxide. Inferred resources are 214,351,000 tonnes of 0.85% TREO, 1.71% zirconium oxide, 0.14% niobium pentoxide and 0.05% hafnium oxide. The Bécancour Industrial Park will be the home for Quest's $1.3 billion hydrometallurgical plant. The complex is expected to employ over 500 workers during construction and provide over 300 full-time jobs during oper - ations set for 2017. Quest also reported the discovery of an important new area of rare earth mineraliza- tion on its Misery Lake Project, northeastern Quebec. KOOTENAY SILVER INC. Kootenay Silver Inc. [KTN-TSXV] has delineated significant resources at its 100%-owned advanced-stage Promontorio silver-gold project in Sonora, Mexico. Open pit measured and indicated resources are 44,504,000 tonnes averaging 64.32 g/t silver equivalent (AgEq), with an additional 14,564,000 tonnes averag - ing 51.95 g/t AgEq inferred resources. This resource is stated above a 20.00 gpt AgEq cut-off grade and is contained within a potentially economically mine- able pit shell. Underground measured and indicated resources are 215,000 tonnes averaging 56.96 g/t AgEq, with an addi- tional 1,265,000 tonnes grading averaging 61.17 g/t AgEq inferred resources. The measured and indicated resource contains an estimated 92,035,000 oz AgEq with another 24,326,000 oz AgEq categorized as inferred, Kootenay Silver has a number of other earlier-stage exploration projects in Mexico and British Columbia. The Sully Project *The Company cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Sully Property. Teck Resources Ltd is the owner of the Sullivan Mine at Kimberley, BC. santafemetals.com BC's most storied metal mine had nearly a century of base & precious metals production valued at $40 Billion in today's metal prices. SFM's hunt for the next Sullivan continues…* Read more at:

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