Weir is the mining consultancy
Based on additional coring and chemical analysis, Weir International has also determined that the size of the Company's REE Exploration Target has increased almost 50% to 0.9 – 1.2 million tons of total rare earth oxides ("TREOs") from its initial Target in May of 0.6 – 0.8 million tons. As perspective, the United States has an average domestic consumption of roughly 10,000 tons per year of REEs over the last ten years.
from the same articleExhibit 1: Updated Brook Mine Basket
Brook Mine ICP Analysis
Primary Magnetic REOs
Neodymium (Nd2O3)
15.84 %
Praseodymium (Pr6O11)
4.22 %
Dysprosium (Dy2O3)
2.42 %
Terbium (Tb4O7)
0.42 %
% of Primary Total
22.90 %
Secondary Magnetic REOs
Samarium (Sm2O3)
3.06 %
Gadolinium (Gd2O3)
2.78 %
Holmium (Ho2O3)
0.48 %
% of Secondary Total
6.32 %
% of All Magentic Total
29.23 %
Other REOs
70.78 %
Brook REO Basket
100 %
Source: Weir International Inc.
Exhibit 2: Updated Brook Mine Exploration Target
Brook Mine In-Place REO Exploration Target Tonnage and Grade Estimate - New
Range
Total
Primary Magnetics
Secondary Magnetics
Heavy
Light
Tons ('000)
Grade (ppm)
Tons ('000)
Grade (ppm)
Tons ('000)
Grade (ppm)
Tons ('000)
Grade (ppm)
Tons ('000)
Grade (ppm)
Low
938
261
219
61
60
17
33
9
728
202
High
1,173
326
274
76
75
21
41
11
910
253
Source: Weir International Inc.
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