Rare Earth Ridge Resources Announces Results of Metallurgical Testing on its Mount Major Hart Project

VANCOUVER, B.C. – Monday April 17, 2023, RARE EARTH RIDGE CORP. (the “Company” or “Rare Earth Ridge”), is pleased to announce results from preliminary metallurgical testing on its Mount Major Hart property (the “Property”), located in north-central British Columbia (BC), Canada (Figure 1). The property comprises five (5) British Columbia mining claims covering 1,910.15 ha (4,718.07 acres), located about 93 km ENE of the village of Dease Lake, within the Northwest Region of British Columbia (Figure 2). Access is by helicopter from Dease Lake, along BC Highway 37, hosting good accommodation, fuel and grocery services.

The property covers much of the Major Hart pluton, an alkali-feldspar granite with a lithologic composition suitable for the enrichment of rare earth elements (REEs) and other rare metals, particularly lithium and rubidium. The only documented previous exploration program occurred in 2010, identifying elevated REE values throughout the property and two areas with high tin potential. Therefore, the Mount Major Hart pluton is considered to be a newly recognized target.

Rare Earth Ridge commissioned Forte Analytical, Inc. of Fort Collins, Colorado, to conduct scoping-level metallurgical testing on a 25-kg composite sample of material from several sites within the property. The program was designed to evaluate the viability of several methods of metal beneficiation from the sample, focusing on the recovery of rare earth elements (REEs) and lithium (Li). These methods comprise gravity testing, magnetic separation testing, acid leach testing and combined flotation-magnetic separation testing.

Head Analysis

The head grade of the composite sample was 367 ppm Total Rare Earth Elements plus Yttrium (TREE+Y), although metallurgical testing indicates calculated TREE+Y head assay values could be as high as 600 ppm. This comprises 238 ppm Light Rare Earth Elements (LREEs), 62 ppm Heavy Rare Earth Elements (HREEs) and 62 ppm Y (Table 1). Other notable element values include 173 ppm Li, only 26 ppm uranium (U), and no detectable thorium (Th).

Table 1: Head Analysis of Composite Sample (Forte Analytical LLC)

Figure 1: Location Map, Mount Major Hart property location

Figure 2: Claim Tenure map, Mount Major Hart property

Gravity Separation

Gravity separation yielded a TREE+Y recovery of 11.9% with a Li recovery of 4.0% in the “rougher concentrate”, providing a grade of 0.19% TREE and 138 ppm Li. The “cleaner concentrate” assayed 6,317 ppm TREE+Y, for a minimum 10x enrichment of the feed grade, at a recovery rate of 7.4% (Table 2).

Table 2: Gravity Separation Results (Forte Analytical LLP)

Magnetic Separation

Magnetic separation was able to collect about 12.1% of the TREE+Y, and 41.9% of the Li in the magnetic concentrate (Table 3). The concentrate grades were 0.34% TREE+Y and 0.15% Li.

Table 3: Magnetic Separation Results (Forte Analytical LLP)

Acid Leach Testing

Bottle roll acid leaching was done at various particle sizes and sulphuric acid (H2SO4) concentrations, resulting in TREE+Y extractions ranging from 12.8% to 20.8% and Li extraction from 1.6% to 3.6% (Table 4). Higher acid consumption occurred for the finer particle size and initial higher acid concentration. The most favourable result was a 20.8% TREE+Y extraction at a 12.5mm particle size, involving acid consumption of only 10.1 kg/ metric tonne (mt) of material.

The static leach bucket test resulted in TREE+Y extraction of 9.3% and Li extraction of 1.7%, with acid consumption at 11.7 kg/mt, similar to the bottle roll test results using the same particle size and initial H2SO4 concentration.

Table 4: Leach Results (Forte Analytical LLP)

Combined Flotation-Magnetic Separation Testing

Two versions of combined flotation-magnetic separation testing provided the highest TREE+Y recoveries up to 82.9%, and the highest Li recoveries up to 67.2% (Table 5). For “magnetic separation followed by flotation of non-magnetic tails”, the combined concentrates for each provided an 81.4% recovery of TREE+Y and a 67.2% recovery of Li. Concentrate grades were 888 ppm TREE+Y and 196 ppm Li. For “flotation followed by magnetic separation of flotation concentrate”, the TREE+Y recovery was 82.9% and Li recovery was 21.5%, for a concentrate grade of 1,498 ppm TREE+Y and 113 ppm Li. This includes recoveries from magnetic separation alone of 45.5% TREE+Y and 10.8% Li, for a concentrate grade of 3,723 ppm TREE+Y and 258 ppm Li.

Table 5: Combined Flotation-Magnetic Separation Results

Discussion

Results indicate that the preferred process would comprise a combination of flotation followed by magnetic separation of the flotation concentrate, due to lower mass pull and higher concentrate grades. Either version of combined flotation and magnetic separation constitute the preferred methods of TREE+Y and Li recoveries, as the overall recoveries, combined with grades in concentrate, were highest. Additional flotation and magnetic separation testing, with material collected from multiple sources, is recommended to accurately estimate metal recoveries.

Proposed Exploration

The 2023 exploration program on the Rare Earth Ridge property is expected to commence with an early phase of surface rock sampling and geological mapping program across “The Knoll”. The objective is to determine areas of further magma fractionation and/or hydrothermal mineralization potentially resulting in the enrichment of REEs and Li. The results from this exploration program will be utilized to determine sites for a 1,000-metre reverse-circulation drilling program, targeting “The Knoll”. Other exploration targets include skarn and greisen-hosted tin-tungsten (Sn-W) mineralization, particularly upslope of the 19.8% SnO2 value, from heavy mineral stream sampling.
Carl Schulze, P. Geo., Consulting Geologist with Aurora Geosciences Ltd, is a qualified person as defined by National Instrument 43-101 for Rare Earth Ridge Resource Corp’s exploration projects and has reviewed and approved the technical information in this release.

About Rare Earth Ridge Resources

Rare Earth Ridge Resources Corp. is a Canadian junior mining exploration company with its 100% owned Mount Major Hart property located in British Columbia. The Company is focussed on rare earth elements and rare metals, particularly lithium and rubidium. More information can be found at the Company’s website at www.rareearthridgeresources.com.

ON BEHALF OF RARE EARTH RIDGE RESOURCES CORP.

“Barry Miller”
CEO, President and Director
T: (778) 232-1878
E: barry@rareearthridge.com

Forward-Looking Information:

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of Rare Earth Ridge. Forward-looking information is based on certain key expectations and assumptions made by the management of Rare Earth Ridge. In some cases, you can identify forward-looking statements by the use of words such as “will,” “may,” “would,” “expect,” “intend,” “plan,” “seek,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “likely,” “could” and variations of these terms and similar expressions, or the negative of these terms or similar expressions. Although Rare Earth Ridge believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Rare Earth Ridge can give no assurance that they will prove to be correct.

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