"Seltenerden Storkwitz AG": Start of drilling to explore the only known rare earth deposit in Central Europe
from 20. APRIL 2012
Conversion of historical DDR classification into international standard / Resilient results expected for fall 2012
Bernhard Giessel Managing Director of the Seltenerden Storkwitz AG
Heidelberg / Delitzsch. In Storkwitz near Delitzsch, the test wells for the only known occurrence for rare earth elements (SEE) in Central Europe have now begun. The drill program now underway will transform the deposit into an internationally recognized resource under the Australian JORC standard. Thereafter, then the extent of the deposit in particular to the depth to be further investigated. The historical resource according to GDR classification amounts to around 38.000 tons of rare earth and 8.000 tons of niobium. The earlier investigations assumed that there was a considerable potential for expansion. The discoverer, the German-Soviet uranium company SDAG Bismuth, estimated the potential amount of SEE already 1975 up to 136.000 tons.
Deutsche Rohstoff AG has founded a new company, "Seltenerden Storkwitz AG", in order to promote the development of the Storkwitz deposit in the Delitzsch license area. SEE are mainly used in high and environmental technology. The initial goal is to bring the historical resource to an internationally recognized standard and then significantly increase it. Deutsche Rohstoff AG (DRAG) holds with 63 percent the majority of the Chemnitz-based rare earth Storkwitz AG. The drilling down to a depth of around 700 meters, as well as the analysis and analysis of the cores will take several months. The experts are expecting first reliable results for the fall of 2012.
Bernhard Giessel, CEO of the rare earth Storkwitz AG: The only rare earth deposit in Central Europe can now be developed quickly. Since GDR times, geologists have agreed that this deposit can be significantly extended to the depths. The Seltenerden Storkwitz AG also has access to first-class experts. Not least supported by the increasing offensive raw materials policy of the Federal Government, the actions of German companies, such as the planned "alliance for securing raw materials", are gaining more and more momentum. We assume that this resource is also of interest to German industry. "
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 five holes so far. It contains light SEE such as cerium, lanthanum, praseodymium and neodymium but also heavy rare earths such as europium and yttrium.
Rare earth one of the critical raw materials
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. Around 97 percent of 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.
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 supply of rare earths is considered critical.
Deutsche Rohstoff AG, listed in the Entry Standard, is building a new raw material producer. The business areas are gold & silver, oil & gas and so-called high-tech metals such as tungsten, tin and rare earths. All projects are located in politically stable countries with a focus on Germany. The business model is based on the (re-) development of deposits that have already been well explored in the past. The first production has been running since January 2011. Further information on Deutsche Rohstoff AG is available at www.rohstoff.de.
Delitzsch, 20. April 2012
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