Ram Resources expands exploration footprint at Motzfeldt multi-element project in Greenland

Ram Resources' (ASX: RMR) application for exploration licence 2011/24 has been granted by the Bureau of Mines & Petroleum in Greenland, allowing the company to explore a new area of 568 square kilometres at the Motzfeldt multi-element project.

The licence has been granted for an initial term of five years and has previously only been lightly explored by Greenland Geological Survey (GGU). It surrounds exploration licence 2010/46 (EL2010/46), which is held by the company’s 51% owned subsidiary, Greenland Resources Limited (GRL).

EL2010/46 hosts Ram’s Aries Prospect as well as the nearby targets of Merino and Romney. Ram has previously intercepted high grade rare earth elements at Aries including; 25 metres at 5,031 parts per million (ppm) total rare earth oxides (TREO), and 20 metres at 4,852ppm TREO.

The company will hold EL2011/24 on trust for GRL, effectively giving Ram a 51% interest in the new licence at this time. Ram can acquire the remaining 49% of GRL that it does not already own in a number of stages.

SRK Exploration Services Ltd (SRK) has identified five priority targets for follow up this field season on the new licence. These are Dorper, Black Ram, Swaledale, Voskop and Drysdale.

The company said the area for EL2011/24 was selected so that it would include the majority of the available areas underlain by the alkaline igneous intrusions of the Igaliko complex.

GGU carried out its South Greenland Uranium Survey (SYDURAN) program out in the area in the early 1980’s, which included radiometrics, and some follow-up surface sampling.

The historical work suggests that there may be potential for occurrences of tantalum-niobium-rare earth elements mineralisation.

The follow-up of these targets will be done in conjunction with Ram's planned work on EL2010/46 during July and August.

Ram is aiming for a maiden Inferred JORC Resource in the new drilling campaign at Motzfeldt which will include up to 19 diamond holes for around 3200 metres - targeting the Aries Prospect where historic drilling concentrated on the centre line of the mineralised zone.

Work on the new licence will likely include ground geophysics using a hand held spectrometer, geological mapping, surface sampling and analysis.

SRK will carry out this work with the assistance of the company’s consultant Dr Ashlyn Armour-Brown, who was involved in the SYDURAN program with the GGU in the 1980’s.

Coverage orignally posted at: http://www.proactiveinvestors.com.au/companies/news/18347/ram-resources-expands-exploration-footprint-at-motzfeldt-multi-element-project-in-greenland-18347.html