Search Minerals Announces Additional Channel Assay Results Expanding Fox Meadow Rare Earth Element Project IN Se Labrador
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
NEWS RELEASE
FOR IMMEDIATE RELEASE: May 5, 2022
SEARCH MINERALS ANNOUNCES ADDITIONAL CHANNEL ASSAY RESULTS
EXPANDING FOX MEADOW RARE EARTH ELEMENT PROJECT IN SE LABRADOR
Vancouver, B.C. May 5, 2022 – Search Minerals Inc. (TSXV: SMY | OTCQB: SHCMF) (“Search” or the
“Company”), is pleased to report 2021 channel assay results from FOX MEADOW, a major mineralized
zone in the Port Hope Simpson – St. Lewis Critical Rare Earth Element (CREE) District. Mapping,
prospecting, trenching, channeling, and geophysical surveys confirm the current known extent of two
mineralized zones at FOX MEADOW: the NW zone is up to 175m wide, and the SE zone is up to 154m
wide. Combined, known mineralization is at least 790m long, and is open to the NW and SE. FOX
MEADOW is currently drill program ready; Search plans to commence a 6,000 m drill program this
fall.
HIGHLIGHTS – FOX MEADOW 2021 CHANNEL PROGRAM
• Channel assay highlights (all true widths):
o FMC-21-02B (SE zone): 30,190 ppm Zr; 272 ppm Dy; 1,592 ppm Nd; 702 ppm Hf, over
4.20m;
o FMC-21-02B (SE zone): 14,410 ppm Zr; 195 ppm Dy; 1,051 ppm Nd; 322 ppm Hf over
25.85m; and
o FMC-21-03 (SE zone): 10,704 ppm Zr; 213 ppm Dy; 1,212 ppm Nd; 246 ppm Hf over
6.71m.
• Channel programs, prospecting and magnetic anomalies indicate that the NW mineralized
zone is at least 175m wide and 425m long, and the SE mineralized zone is at least 154m wide
and 365m long; 790m combined length;
• The mineralization is open to the NW and SE; another channel program is planned for 2022
to trace the surface mineralization to the NW and SE;
• A 6000m drill program is planned for fall 2022 to test for mineralization at depth;
• The 2021 exploration program was carried out with no positive Covid-19 cases.
Greg Andrews, President/CEO states; “We are very excited about the potential of the Fox Meadow
project. By comparison, Fox Meadow’s surficial extent is much wider and longer than that of either
Deep Fox or Foxtrot. The Fox Meadow project could prove to be very significant for our development
of a safe and secure generational source of rare earth element s for the North American rare earth
element supply chain.”
Andrews added; “The Fox Meadow Project is “drill ready” - we plan a 6000m drill program that has
been permitted and is expected to commence late 2022. The recent Federal Budget proposes up to
$3.8 billion in support over eight years to implement Canada’s first Critical Minerals Strategy. The
Fox Meadow Project funding could benefit from the new 30% Critical Mineral Exploration Tax Credit
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
which was introduced. We look fo rward to learning more details as our goals align nicely with the
Federal government’s Critical Minerals Strategy.”
FIGURE 1. FOX MEADOW CHANNEL LOCATIONS
The 2021 trenching and channeling program at FOX MEADOW extended three previous channel
sections (see Search News Releases: April 6, 2020; October 28, 2020) southwards and completed
three new sections through the mineralized zones (see Figure 1). All channel work required excavation
of trenches in treed areas, with significant overburden cove r, to expose bedrock. The ten longest
sections, from all channel programs, sample a mineralized zone that is between 123m and 175m wide
and 425m long in the westerly part of the zone (NW zone) and between 122m and 154m wide and
365m long in the easterly pa rt (SE zone). The successful 2021 trenching and channeling program
indicates that an extensive 2022 program is required to determine the surficial extent of the two
mineralized zones that are open to the NW and SE; a Phase 1 drill program to explore for
mineralization at depth is also planned for fall 2022.
Assays from the 2021 channeling program (highlights in Table 1) return similar results to channels
from 2020 and earlier programs. Two channel sections, FMC-21-05/FMC-18-03 and FMC-18-01/FMC-
21-06, form connected sections that sample the NW zone. Three new channels (FMC-21-02, FMC-21-
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
03 and FMC -21-04) and one channel extension (FMC -20-03/FMC-20-01) produce four sections
through the SE zone.
Channel FMC-21-02B contains 47.56m of high-grade mineralization (aggregate of over 3m wide >190
ppm Dy intervals) and 13.77m of medium-grade mineralization (aggregate of over 3m wide and 150-
190 ppm Dy intervals) over 112.34m of channel; lower grade mineralization and mafic units forming
the remainder in all channels . FMC-21-03 contains 12.63m of high -grade mineralization (>190 ppm
Dy) and 15.14m of medium-grade mineralization (150-190 ppm Dy) over 139.88m of channel. Section
FMC-21-04 contains 20.65m of high -grade mineralization (>190 ppm Dy) and 24.37m of medium -
grade mineralization (150-190 ppm Dy) over 154.51m of channel. Figure 1 illustrates that a portion of
both magnetic anomalies, the NW and SE zones, has not been sampled/channeled to date.
TABLE 1 - WEIGHTED AVERAGE OF SOME CREE MINERALIZED INTERVALS AT FOX MEADOW PROJECT
FMC-21-02B FMC-21-02B FMC-21-02B FMC-21-02B FMC-21-03 FMC-21-04
From (m) 22.26 22.26 64.21 64.21 19.25 39.85
To (m) 26.46 30.4 71.41 90.06 25.96 44.71
Length (m) 4.20 8.14 7.20 25.85 6.71 4.86
Y (ppm) 1,157 873 1,105 848 886 1,033
Zr (ppm) 30,190 18,850 10,731 14,410 10,704 10,679
Nb (ppm) 581 412 272 285 343 331
Hf (ppm) 702 445 231 322 246 255
La (ppm) 1,285 987 1,285 892 1,076 957
Ce (ppm) 3,071 2,324 2,890 2,057 2,286 2,192
Pr (ppm) 397 298 363 262 312 284
Nd (ppm) 1,592 1,197 1,446 1,051 1,212 1,167
Sm (ppm) 330 245 285 216 244 242
Eu (ppm) 15.2 12.2 15.2 11.1 12.9 12.6
Gd (ppm) 251 190 239 183 198 205
Tb (ppm) 43.9 33.3 40.8 32.1 34.7 36.6
Dy (ppm) 272 205 245 195 213 229
Ho (ppm) 54.7 41.2 48.1 39.0 42.7 46.6
Er (ppm) 164 122 135 113 123 136
Tm (ppm) 24.6 17.9 18.3 15.7 17.3 19.1
Yb (ppm) 159 114 112 99.2 109 123
Lu (ppm) 25.2 17.8 16.7 15.1 16.4 18.1
LREE 6,675 5,051 6,269 4,479 5,129 4,843
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
HREE 1,010 754 870 702 766 826
HREE + Y 2,167 1,627 1,975 1,551 1,652 1,859
TREE 7,684 5,804 7,139 5,181 5,895 5,669
TREE + Y 8,841 6,678 8,244 6,029 6,781 6,702
%TREE 0.77% 0.58% 0.71% 0.52% 0.59% 0.57%
%TREE + Y 0.88% 0.67% 0.82% 0.60% 0.68% 0.67%
%HREE 0.10% 0.08% 0.09% 0.07% 0.08% 0.08%
%HREE + Y 0.22% 0.16% 0.20% 0.16% 0.17% 0.19%
Note;
REE
TREE
LREE
HREE
Y
%HREE+Y
%HREE
All elements parts per million (ppm), 10,000 ppm = 1% = 10kg/tonne
Rare Earth Elements: La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu (Lanthanide Series).
Total Rare Earth Elements: Add La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu
Light Rare Earth Elements: Add La, Ce, Pr, Nd, Sm.
Heavy Rare Earth Elements: Add Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu.
Y not included in HREE due to relatively low value compared to most Lanthanide series HREE.
%(HREE+Y)/(TREE+Y)
%( HREE/ TREE)
The FOX MEADOW project occurs approximately 11 km west of Port Hope Simpson and 1 km from a
gravel-covered, three -season forest access road. Port Hope Simpson is approximately 40 km
northwest of FOXTROT and 50 km from DEEP FOX on paved and all-season gravelled roads.
Quality Assurance / Quality Control (QA/QC):
Channel samples, 10cm deep and 8cm wide, are cut by gas -powered diamond -bladed saw from
cleaned outcrops to provide samples for assay and logging/reference. Each channel is cut into two
vertical sections, similar to drill core, with a 6 cm thick section (weathering removed) being sent for
assay to Activation Laboratories Ltd (ActLabs). A 2 cm thic k section is stored in channel boxes for
reference and to provide due diligence/verification samples. The channels are cut perpendicular to
strike, pieced together, logged and photographed to produce geological and geochemical sections.
These channel sampl es, or horizontal drill holes, produce the same data as vertical diamond drill
holes, except the data is from horizontal geological sections and the collected sample is 6 to 8 times
bigger than NQ drill core. Additional 8 cm wide cuts from a channel interv al make excellent
preliminary metallurgical samples (1m of channel yields approximately 30kg of sample).
Litho-geochemistry samples (drill core or channel), all from bedrock, are collected by Company
personnel, bagged and described. Reference samples are also collected for each grab, litho-
geochemistry and channel sample. The samples are shipped to Activation Laboratories Ltd. (ActLabs)
sample prep facility in Ancaster, Ontario, where they are crushed to 80% -10 mesh and riffled to
produce a re presentative sample. This sample is then pulverized to 95% -200 mesh with the
pulverizing mills being cleaned between each sample with cleaning sand. A representative sample is
treated by a lithium metaborate/tetraborate fusion and then analyzed by ICP and ICP/MS techniques.
Mass balance is required as an additional quality control technique and elemental totals of the oxides
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
should be between 98% and 101%. For QA/QC purposes Search requires one pulp duplicate
and Search reproducibility standard inserted at the 15 th sample, and each 20 samples after, and a
coarse reject duplicate every 20 samples. In addition, pulp standards are inserted at random by
Search Minerals personnel. ActLabs analyzes duplicates and splits approximately every 15
samples and also analyses 29 measured standards for QA/QC. To further enhance our QA/QC
procedures Search has a program of checking analytical results with other labs to confirm
the ActLabs results. ActLabs is an ISO/IEC 17025 accredited laboratory.
Qualified Person:
Dr. Randy Miller, Ph.D., P.Geo, is the Company’s Vice President, Exploration, and is a “qualified
person” (as defined by NI 43 -101) and has supervised the preparation of and approved all scientific
and technical information herein and has conducted appropriate verification on the underlying data.
The Company will endeavor to meet high standards of integrity, transparency, and consistency in
reporting technical content, including geological and assay (e.g., REE) data.
About Search Minerals Inc.
Led by a prove n management team and board of directors, Search is focused on finding and
developing Critical Rare Earths Elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the
emerging Port Hope Simpson – St. Lewis CREE District of southeast Labrador. The Company controls
a belt 63 km long and 2 km wide and is road accessible, on tidewater, and located within 3 local
communities. Search has completed a preliminary economic assessment report for FOXTROT, and a
resource estimate for DEEP FOX. Search is also working on three exploration prospects along the belt
which include: FOX MEADOW, SILVER FOX and AWESOME FOX.
Search has continued to optimize our patented Direct Extraction Process technology with the support
from the Department of Industry , Energy a nd Technology , Government of Newfoundland and
Labrador, and from the Atlantic Canada Opportunity Agency. We have completed two pilot plant
operations and produced highly purified mixed rare earth carbonate concentrate and mixed REO
concentrate for separation and refining. We also recognize the continued support by the Government
of Newfoundland and Labrador for its Junior Exploration Program.
Search Minerals was selected to participate in the Government of Canada Accelerated Growth Service
(“AGS”) initiative, which supports high growth companies. AGS, as a ‘one-stop shop’ model, provides
Search with coordinated access to Government of Canada resources as Search continues to move
quickly to production and contribute to the establishment of a stable and secure rare earth element
North American and European supply chain.
For further information, please contact:
Greg Andrews
President and CEO
SEARCH MINERALS INC.
# 108, 901 West Third Street, North Vancouver, B.C. V7P 3P9 T (604) 998-3432 . F (604) 608-5717
www.searchminerals.ca . E [email protected]
Tel: 604-998-3432
E-mail: [email protected]
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