Why is the market not getting a little more excited by this? Have they forgotten since Nov? Ot is it waitng for Feb results?
'On November 1, Crossland announced the results of analysis of a sample of heavy mineral concentrate derived from alluvium derived from the Teapot Granite. This returned high values for all Rare Earth Elements (REE), including the Heavy REEs that are subject to supply restrictions from the Chinese Government. The results demonstrate that Crossland can reasonably expect to produce heavy mineral concentrates with very high REE contents from alluvial deposits draining from the Teapot Granite. Crossland believes that these could have a low production cost, making the production of several thousand tonnes of REE in heavy mineral concentrate an economically viable development. Crossland anticipates that this could be evaluated and permitted, at least in a pre- feasibility form, during 2011.
The Crossland/ Pancon Joint Venture has secured in excess of 4,000 square kilometres of exploration titles covering some 180km of the northern foothills of the MacDonnell Ranges, a zone that hosts the Teapot Granite and its host rocks, some of which also demonstrate the anomalous radiometric patterns that Crossland has recognised in association with the REE concentrations. Since the results have been available, Crossland has embarked on a first- pass evaluation of the potential for an alluvial heavy mineral REE project in the Charley Creek Project. By the end of the Quarter, field crews had collected in excess of 200 bulk stream sediment samples, each of which represents a drainage area of around 4 square kilometres. This represents about 90km of the 180km strike of the MacDonnell Ranges within the Joint Venture''s title package at Charley Creek. In addition, crews with hand augers have collected around 400 samples from one of the alluvial flat areas around Cockroach Dam. A small processing facility has been established to separate heavy mineral concentrates from the samples and, by end of period, submission of samples for further upgrading and despatch to Canada for High Level REE analysis had commenced. This is necessary since assay methods currently available in Australia do not have upper detection limits high enough to give accurate results on the concentrate samples.'
