Ram identifies new Greenland targets

THE BOURSE WHISPERER: Greenland-focused rare earths explorer Ram Resources has received final results from reconnaissance exploration work recently completed at the Voskop and Drysdale targets within the company’s Motzfeldt project in South Greenland.

Ram currently holds 51 per cent of the Motzfeldt project, with the right to move to 100 per cent.

“Regional exploration during the 2011 field season has proved successful in identifying two new and extensive areas of Niobium-Tantalum-Rare Earth Elements mineralisation,” Ram Resources said in its ASX announcement

“The grades and extent of mineralisation at both Voskop and Drysdale are similar to those observed at Aries, which is recognised as a major Ta-Nb-REE occurrence.”

Ram identified Voskop to be of particular interest as it appears to show an increased level of REE mineralisation compared to other targets, and is an occurrence that can be relatively easily explored.

Its location means it could be developed alongside a future mine at the company’s Aries prospect and could share much of the same infrastructure.

Voskop is located within about 7 kilometres to the northwest of the Aries prospect.

Ram carried out sampling on profiles along the valley floor or sides at Voskop with a total of 48 surface samples taken during this last field season.

“This initial sampling at Voskop shows very encouraging results, with 13 samples (of the 48) returning assays over 2,000 parts per million niobium oxide, with an average of 1,431 ppm across all samples,” Ram said

 The best results for niobium oxide achieved at Voskop were 4,320 ppm and 4,306 ppm in two samples.

The best results the company received for Tantalum oxide were 452 ppm and 354 ppm in the same two samples.

“The distribution of tantalum mineralisation shows close correlation to that for niobium, which is to be expected,” Ram said.

“Results for REE’s are also very promising, with seven samples assaying at or close to one per cent Total Rare Earth Oxides (average 0.4 per cent TREO).

The Drysdale prospect is located about 7.5km southeast of Aries at an elevation of about 1,600m.

A total of 99 surface samples were collected along the ridge at Drysdale.

Ram said the prospect shows niobium, tantalum, zircon, and REE mineralisation in altered syenites and microsyenites over an area of some 1.4km by 0.5km, with niobium grades being particularly significant.