Search Minerals Outlines TWO Deposits at Fox Meadow Critical Rare Earth Element Mineralized Zone 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: OCTOBER 28, 2020
SEARCH MINERALS OUTLINES TWO DEPOSITS AT FOX MEADOW CRITICAL
RARE EARTH ELEMENT MINERALIZED ZONE IN SE LABRADOR
Vancouver, B.C. October 28, 2020 – Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”)
is pleased to report 2020 channel assay results from FOX MEADOW, a major mineralized zone in the Port
Hope Simpson – St. Lewis Critical Rare Earth Element (CREE) District. Trenching/channelling (four new
channels in 2020), a UA V magnetic survey (2019) and mapping/prospecting outline two mineralized zones
on the surface at FOX MEADOW: the NW zone is up to 175m wide and SE zone is up to 11 6m wide.
Combined, the mineralization is at least 790m long. This combined surface expression is significantly
longer and wider than the surface expressions of the nearby and related FOXTROT and DEEP FOX
Resources. The FOX MEADOW mineralization is similarly hosted by peralkaline volcani c rocks and
exhibit similar grades of the REE magnet materials (Nd, Pr, Tb and Dy) as FOXTROT and DEEP FOX.
HIGHLIGHTS – FOX MEADOW 2020 CHANNEL PROGRAM
• Channel assay highlights (all true widths):
o FMC-20-01(NW): 11,933 ppm Zr, 237 ppm Dy, 1,443 ppm Nd, 267 ppm Hf, over 8.17m;
o FMC-20-03 (SE): 12,157 ppm Zr, 208 ppm Dy, 1,165 ppm Nd, 269 ppm Hf over 16.17m;
o FMC-20-04 (NW): 17,378 ppm Zr, 259 ppm Dy, 1,552 ppm Nd, 372 ppm Hf over 8.91m;
• Current channel program indicates that the NW mineralized zone is at least 175m wide and 425m
long, and, the SE mineralized zone is at least 116m wide and 365m long; 790m combined length;
• FOX MEADOW combined (NW and SE zones) surface extent is much greater than the
FOXTROT and DEEP FOX surface extents - 350-450 m long and up to 40m thick;
• Expanded 2021 channeling/trenching and/or drilling program needed to sample the extended
length and width indicated in the 2020 exploration program;
• The 2020 exploration program was carried out with no positive Covid-19 cases.
Greg Andrews, President/CEO states; “We are very excited about the results from our recent 2020
exploration at FOX MEADOW . The surface expression of FOX MEADOW is up to 1 75m wide,
compared to our FOXTROT and DEEP FOX which are up to 40m wide. We plan a drill program in 2021,
to explore for mineralization at depth in hopes of producing a third resource in the District . These are the
final results from our very successful 2020 exploration program.”
FIGURE 1. FOX MEADOW CHANNEL LOCATIONS
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]
The 2020 trenching and channeling program at FOX MEADOW extended two previous channel sections
(see Search News Release, April 6, 2020 ) southwards and complete d one new section through the
mineralized zones (see Figure 1) . All channel work require d excavation of trenches in treed areas, with
significant overburden cover, to expose bedrock. T he four longest sections, from all channel programs,
outline a mineralized zone that is between 123m and 175m wide and 425m long in the westerly part of the
zone (NW zone) and at least 116m wide and 365m long in the easterly part (SE zone); completed sections
indicate that the mineralized zone is greater than 790 m long. The successful 2020 trenching/channeling
program indicates that an extensive 2021 program is required to determine the surface extent of the two
mineralized zones; a Phase 1 drill program to explore for mineralization at depth could follow at a later date
or be concurrent with the channel program.
Assays from the 2020 channeling program (Table 1) give similar results to channels from 2019 and earlier
programs. Two channel sections, FMC-20-01 and FMC-19-04/20-02/20-04 sample the NW zone. FMC-20-
01 contains 23.02m of high-grade mineralization (aggregate of over 3m wide >190 ppm Dy intervals) and
24.47m of medium-grade mineralization (aggregate of over 3m wide and 150-190 ppm Dy intervals) over
169.7m of channel. FMC-19-04/20-02/20-04 contains 39.01m of high-grade mineralization (>190 ppm Dy)
and 19.09m of medium-grade mineralization (150-190 ppm Dy) over 129.48m of channel. Section FMC-
20-03 samples the SE zone and contains 29.60m of high-grade mineralization (>190 ppm Dy) and 47.44m
of medium-grade mineralization (150-190 ppm Dy) over 115.99m of channel. Figure 1 illustrates that large
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]
portions of both magnetic anomalies, the NW and SE zones, have not been sampled/channeled to date.
TABLE 1 - WEIGHTED A VERAGE OF SOME CREE MINERALIZED INTERV ALS AT FOX
MEADOW PROJECT
FMC20-01 FMC20-01 FMC20-02 FMC20-04 FMC-20-03 FMC-20-03
From (m) 19.67 37.73 35.37 120.57 9.30 96.38
To (m) 53.80 45.90 43.92 129.48 25.47 104.01
Length (m) 34.13 8.17 8.55 8.91 16.17 7.63
Y (ppm) 824 1,112 985 1,102 874 866
Zr (ppm) 11,665 11,933 12,785 17,378 12,157 18,406
Nb (ppm) 319 378 286 287 356 349
Hf (ppm) 262 267 278 372 269 458
La (ppm) 940 1,245 993 1,193 985 811
Ce (ppm) 2,274 2,960 2,476 3,025 2,317 1,976
Pr (ppm) 288 374 318 398 296 251
Nd (ppm) 1,115 1,443 1,257 1,552 1,165 1,004
Sm (ppm) 220 286 259 318 239 214
Eu (ppm) 11.5 15.1 13.3 16.3 12.9 11.4
Gd (ppm) 180 235 215 266 204 198
Tb (ppm) 30.4 39.8 36.1 43.3 34.4 35.0
Dy (ppm) 182 237 214 259 208 212
Ho (ppm) 35.7 46.4 41.3 49.4 40.6 42.8
Er (ppm) 102 132 117 139 115 125
Tm (ppm) 14.5 18.7 16.1 19.1 16.1 18.3
Yb (ppm) 92.1 117 100 122 100 119
Lu (ppm) 14.0 17.5 14.6 18.6 14.5 18.4
LREE 4,836 6,307 5,304 6,485 5,002 4,257
HREE 663 859 768 932 746 780
HREE + Y 1,487 1,971 1,752 2,033 1,620 1,646
TREE 5,499 7,166 6,071 7,417 5,748 5,037
TREE + Y 6,323 8,278 7,056 8,519 6,622 5,904
% TREE 0.55% 0.72% 0.61% 0.74% 0.57% 0.50%
% TREE + Y 0.63% 0.83% 0.71% 0.85% 0.66% 0.59%
% HREE 12.05% 11.99% 12.65% 12.56% 12.97% 15.48%
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 +
Y 23.5% 23.8% 24.8% 23.9% 24.5% 27.9%
Mag REE 1,615 2,094 1,826 2,253 1,703 1,503
Note: All amounts parts per million (ppm). 10,000 ppm = 1% = 10 kg/tonne.
Length True width in metres.
REE
Rare Earth Elements: La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu (Lanthanide
Series).
TREE Total Rare Earth Elements: Add La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu.
LREE Light Rare Earth Elements: Add La, Ce, Pr, Nd, Sm.
HREE Heavy Rare Earth Elements: Add Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu.
Y
Y not included in HREE due to relatively low value compared to most Lanthanide series
HREE.
%HREE+Y %(HREE+Y)/( TREE+Y).
%HREE %( HREE/ TREE).
Mag REE Sum of Pr, Nd, Tb and Dy (used in REE magnets).
The FOX MEADOW prospect occurs about 11 km west of Port Hope Simpson and 1 km from a gravel -
covered, three-season forest access road. Port Hope Simpson is about 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 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 out for assay to Activation
Laboratories Ltd. A 2 cm thick 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 sample s, 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 interval make excellent preliminary metallurgical samples (1m of channel yields about 30kg of
sample).
Lithogeochemistry samples, all from bedrock, are collected by Company personnel, bagged and described.
Reference samples are also collected for each grab, lith ogeochemistry 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 representative 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 should be between 98% and 101%. For QA/QC purposes Search requires pulp and coarse
reject duplicates every 2 0 samples and two Search reproducibility standards every 40 samples. ActLabs
analyzes duplicates and splits approximately every 15 samples and also analyses 29 measured standards for
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]
QA/QC. To further enhance our QA/QC procedures Search has a program of che cking analytical results
with other labs to confirm the ActLabs results. ActLabs is a ISO/IEC 17025 accredited laboratory.
Qualified Person:
Dr. Randy Miller, Ph.D., P.Geo, is the Company's Vice President, Exploration, and Qualified Person (as
defined by National Instrument 43-101) who has supervised the preparation of and approved the technical
information reported herein. The company will endeavour 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 proven management team and board of directors, Search is focused on finding and developing
resources within the emerging Critical Rare Earth Element (“CREE”) District of South East Labrador. The
Company controls a belt 63 km long and 2 km wide including its 100% interest in the FOXTROT and
DEEP FOX Projects, which are road accessible and at tidewater. Exploration efforts have advanced FOX
MEADOW, A WESOME FOX and SILVER FOX as new CREE prospect s very similar to and in close
proximity to FOXTROT and DEEP FOX.
Search has continued to optimize our patented Direct Extraction Process technology with the generous
support from the Department of Tourism, Culture, Industry and Innovation, 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.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604-998-3432
E-mail: [email protected]
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]
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policies of the TSX V enture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding “Forward-Looking” Statements:
This news release includes certain “forward-looking information ” and “forward-looking statements ”
(collectively “forward-looking statements”) within the meaning of applicable Canadian and United States
securities legislation including the Uni ted States Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical fact, included herein, without limitation, statements relating
the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”,
“anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or
statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved.
Forward-looking statements in this news release relate to, among other things, the interpretation of technical
results from the Company’ s channelling program and future exploration plans. 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. Forward -looking statements reflect the beliefs, opinions and
projections on the date the statements are made and are based upon a number of assumptions and estimates
that, while considered reasonable by the respective parties, are inherently subject to significant business,
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unknown, could cause actual results, performance or achievements to be materially different from the results,
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and the parties have made assumptions and estimates based on or related to many of these factors. Readers
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update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change.