Ram Resources soon to deliver maiden resource for Aries Prospect in South Greenland

Drilling at Ram Resources’ (ASX: RMR) Aries Prospect, part of the Motzfeldt Project in South Greenland, has confirmed long high grade intersections in all holes drilled.

Significant intersections included:

- 44 metres at 2,067 parts per million (ppm) niobium, 246ppm tantalum, 4,900ppm total rare earth oxides (TREO) and 9,475ppm zirconium;
- 57 metres at 2,113ppm niobium, 213ppm tantalum, 2,196ppm TREO and 6,052ppm zirconium; and
- 50 metres at 2,246ppm niobium, 265ppm tantalum, 3,163ppm TREO and 7,341ppm zirconium.

Grades of potentially economic interest for niobium, tantalum and rare earth elements have been confirmed in all three holes from near surface.

One hole confirms high grade mineralisation beneath an area covered by snowfields that has not been previously mapped or sampled.

Chief executive officer Mike Drew told Proactive Investors today that the results of hole 16, furthest out to the east under snow cover was unexpected.

“The hole that is furthest to the east, which is hole 16, seems to have intersected almost from surface a zone of mineralisation that we haven’t come across previously and that hole is a little bit further out where there’s generally snow cover most of the year round,” he said.

“That’s an area that’s never been surface sampled in the past, from that point of view it’s quite interesting to start getting 50 metres of good grade from surface in that hole.”

Further defining the Aries Prospect’s potential is that the 2011 drilling program has confirmed mineralisation some 300 metres to the north and northwest of previously drilled areas.

The area of the mineralised zone now covered by drilling extends 600 metres from north to south and 250 metres east to west.

Drilling during the 2011 field season was targeted at extending the drilled area along strike at the Aries Prospect with a total of seven holes drilled for 962 metres.

A total of 3,189 metres has now been drilled at the Aries Prospect, including the holes drilled by the previous owner.


Next Steps

Ram is anticipating the completion of a maiden Inferred Resource for the Aries Prospect, which is being compiled by SRK Consulting, in February.

There is also some metallurgical test work being undertaken in the U.K by SGS Mineral Services and Ram will soon begin planning its work program for the 2012 field season which begins in June.


Merino and Romney

Assays from Aries build on the previously announced best sampling results of 6,051ppm niobium, 757ppm tantalum, 3.1% zirconium and 1.08% total rare earth oxides from Merino; and 6,156ppm niobium, 1,172ppm tantalum, 6,254ppm zirconium and 0.26% total rare earth oxides from Romney.

Rock chip samples acquired over the two prospects returned potentially economic grades of niobium, tantalum and rare earth elements.

Ram holds 51% of the Motzfeldt Project, and has the right to move to 100% either in one hit on July 20 this year, or through a staged option over a number of years by spending money on the tenements.

The company plans to evaluate whether to acquire the remaining 49% of the project once all of the results for the 2011 field season are properly analysed.

The Motzfeldt Project is located 24 kilometres east of the town of Narsaruaq in Greenland, 60 kilometres northwest of Greenland Minerals & Energy’s (ASX: GGG) Kvanefjeld Project.

Kvanefjeld has a total resource of 619 million tonnes with 6.6 million tonnes total rare earth oxides, 350 million pounds of uranium and 3 billion pounds zinc.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24344/ram-resources-soon-to-deliver-maiden-resource-for-aries-prospect-in-south-greenland--24344.html