Ram Resources to source crew in a week for rare earths exploration at Motzfeldt in Greenland

Ram Resources (ASX: RMR) has now mobilised the camp and equipment at the company's Aries Prospect, part of the Motzfeldt multi-element project in Southern Greenland, with drilling crew to be mobilised within seven to ten days.


Ram said drilling for the season is expected to kick off in mid-July, which aims to generate additional data for a maiden JORC Inferred Resource.

The drilling program will comprise 18 diamond drill holes for 3200 metres, with exploration to focus on Aries, with some additional work also planned for the Romney and Merino targets, which are located within a couple of kilometres of Aries.

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.

Earlier in the year Ram signed an agreement with the minority shareholders of Greenland Resources Limited (GRL) to vary terms for the acquisition of the remaining 49% of Motzfeldt.

Ram, which already holds 51% of the project, will have a 12 month option to acquire the remaining 49% in one transaction by issuing 200 million shares to the vendor.

The variation offers improved terms for the acquisition, reduced complexity and greater flexibility in negotiating future corporate transactions.

If Ram is able to establish a Resource at Aries by the end of the upcoming 2011 field season, a greater focus will be placed on potential development of the project.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/17602/ram-resources-to-source-crew-in-a-week-for-rare-earths-exploration-at-motzfeldt-in-greenland-17602.html