ann:rare earth drill results confirm continuit

Ann just out

Diamond drilling has confirmed the continuity of significant rare
earth (REE) mineralisation at Quantum with an intersection of
2.3m @ 2.75% Total Rare Earth Oxide (TREO) being returned
100m down dip of previously reported zones (See TUC ASX
announcement dated 26 October 2010). Concentrations of the
most valuable rare earths (Nd+Dy+Pr+Eu) in this new intersect are
a respectable 15%.
Further significant results have been returned from TDD8,
extending a previously reported broad intersection to a total zone
of 50m @ 1.55% TREO from 245m.

Highlights include:

A break down of the significant diamond drill intersection includes:

TDD9, 2.3m @ 2.75% TREO from 374m.

TDD8, 50m @ 1.55% TREO from 245m (new results extend
previously reported TDD8 broad zone of 33m @1.76% REE from
246m).

Geological continuity is apparent between drill intersects. Fault
structures identified from airborne magnetic and airborne radiometric
interpretation infer that the mineralised system has 4km strike length,
providing a further dimension in relation to the exploration potential of
the system. Drilling remains open along strike and up and down dip.

Distribution of valuable REO percentages within the intersects continues
to be comparable to other quality deposits. Average proportions within
the TDD8 and TDD9 intersects are Neodymium (Nd) 11%;
Praseodymium (Pr) 4%; and Dysprosium (Dy) + Europium (Eu) 0.2%;
with a total combined percentage for these elements being +15%.

Mineralisation has been identified on a footwall structure in TDD8, with
assays returning 32m @ 0.38% TREO from 389m. Multiple zones of
REO mineralisation provide further exploration upside.

Additional exploration is being planned to further test the rare earth
potential at Quantum.