Author Martin Jendrischik

An independent Australian surveyor has checked the old data of the Storkwitz rare earth deposit and recalculated the resource. The figures now available fully confirm the previous resource estimate from the 1980s. This was announced by Seltenerden Storkwitz AG (SES) today in Chemnitz. For the first time, an internationally recognized “JORC-compliant” resource calculation is available for Storkwitz. It thus corresponds to the criteria of the Australian classification of mineral resources, which is relevant worldwide. Seltenerden Storkwitz AG, which is majority owned by Deutsche Rohstoff AG, has been working on building Germany's first rare earth company since it was founded in November 2011.

Cleantech, Resources News / Chemnitz. The results of the JORC resource calculation excellently confirm and confirm the work, calculations and reservoir estimates made at GDR Storkwitz rare earth deposit. Both the geometry and course of the orebody as well as the rare earth and niobium contents were confirmed. In detail, the JORC report certifies a resource of 4,4 millions. Tons of ore, with an average rare earth oxide content of 0,45 percent.

"We are very satisfied with the results of the JORC report", says Bernhard Giessel, CEO of the rare earth Storkwitz AG. "The JORC report confirms the DDR resource estimates. The historical calculations only look at the Storkwitz deposit to a depth of 900 meters and come up with a resource of 7,9 million tons of ore with 38.000 tons of LNE at levels of 0,48 percent. Even these estimates are still considered conservative, as the JORC report assumes that the deposit will continue to exist until at least 1.200 meters. Encouraged as well by the very detailed findings of the review, we are already working on planning the next drill program to explore the orebody to this depth. "

The overall result for the explored and drilled part of the Storkwitz rare earth deposit is a metal content of 20.100 tonnes of rare earth oxide (SEO). Due to the strict JORC regulations, only the part of the deposit that has been drilled can be included in the calculations. The explored part extends to a depth of 600 meters.

In addition to the rare earths, Storkwitz 4.000 has been certified tons of the critical metal niobium. The Storkwitz deposit is subdivided into an "indicated" resource with 2,02 million tons of ore at a grade of 0,49 percent and an "inferred" resource containing 2,4 million tons of ore at a grade of 0,42 percent.

View of orebody to 1200 meter depth

In addition, the JORC Report also gives an outlook on the continuation of the deposit and its geometry in larger, previously undrilled depths. Here, too, there is a correspondence with the assessments and models of the geologists of earlier phases of the work. With a very good probability, a continuation of the ore body Storkwitz is predicted for the carbonitic-magmatic intrusive body Storkwitz to a depth of 1.200 meters below the terrain, although here, too, an end to the mineralization is far from being reached.

According to the current model, the SES assumes that the resource can at least be doubled up to this depth. The aim of SES AG is to prove at least 80.000 tonnes of metal content. This is mainly due to the expected increase in the diameter of the deposit and probably rising SEE levels with increasing depth.

In addition to the development of the deposit in Storkwitz, the work on environmentally friendly and efficient technologies for the extraction and presentation of the individual rare earths is in full swing. Along the entire process chain, partnerships with well-known research institutions and industrial companies were concluded. The objective is, in addition to the most efficient use of the own deposit Storkwitz, to market future process developments in other rare earth projects as well.

Bernhard Giessel: "Exploration and dismantling are unproblematic with the state of the art. However, they only represent 10 - 15 percent of the total value added. The rare earth business has always been more involved in the processing and extraction processes than in mining. The winners in the race for new SEE sources will therefore be those companies that have access to the know-how of industrial processing and are thus able to develop the value chain towards high-quality end products. The location Germany has decisive advantages here. "

Second capital increase successfully completed

In order to finance the activities and evaluation of other rare earth sources, the Management Board and the Supervisory Board of SES AG decided in October to carry out a capital increase by issuing new shares at a price of EUR 7,20, partially using the authorized capital resolved at the Annual General Meeting. Board of Directors Bernhard Giessel: "Together with the funds from the capital increase, the company is thus financially comfortably equipped to implement the steps planned for 2013. We intend to finance the large-scale drilling program to significantly increase the resource, primarily from the funds earmarked for the IPO planned for this year. "

The 17 rare earth elements are mainly used in technologically advanced products. In particular, the high-tech industry, but also manufacturers of solar and wind power plants rely on several of these elements. Approximately 97 percent of the current world production of rare earth comes from China. The People's Republic controls the export of metals and has steadily reduced export volumes in recent years. Accordingly, the prices for SEE are now a multiple of the past years. Both the Federal Government and the European Commission classify the SEE as a strategically important metal whose security of supply is at risk. Even within the German economy, the sustainable supply of rare earths is considered critical.

Rare earths: Random find at GDR times

The Storkwitz deposit has been discovered in exploration activities on uranium in the 1970 years. This completely unexpected find was considered a sensation at that time, because in Germany never before comparable comparable rare earth occurrences had been discovered. For 29 drilling in the area, the orebody has been defined by nine holes so far. It contains light SEE such as cerium, lanthanum, praseodymium and neodymium but also heavy rare earths such as europium and yttrium.

 

Source: http://www.cleanthinking.de/gutachten-bestaetigt-lagerstaette-fuer-seltene-erden-in-sachsen/