Ram Resources has released its first drill results from the Aries prospect at the Motzfeldt Project in Southern Greenland. The results have showed long, high grade intersections of rare earths and tantalum in four out of the seven drill holes that have been analyzed.
The results are from the 2011 exploratory program at Motzfeldt. There are economically potential grades of niobium and tantalum along with other rare earth elements in the results. It is perceived that the rare earth elements mineralization is more widespread than the niobium and tantalum mineralization in the area.
A total of seven holes were drilled and covered 962 meters using a diamond drill rig. The drilling has confirmed mineralization 300m to the north and northwest of previously drilled areas, so that the area of the mineralized zone now covered by drilling extends 600m from north to south and 250 metres east-west.
Another drilling exploration program is planned and is likely to commence in January. The data generated will be used by SRK Consulting to come up with the maiden Mineral Resource estimate for the Aries Prospect.
Ram resources is listed on the Australian Securities Exchange and has completed acquisition of 51% stake in the Motzfeldt multi element project in southern Greenland. It has the option to increase its stake to 100%.