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Search Minerals Announces Completion of Fox Meadow Phase 1 Drill Program

Search Minerals Inc. has completed the planned 2000 m of the Fox Meadow Phase 1 Drill Program. Fox Meadow is Search Mineral’s third major REE mineralized zone and is located in the Port Hope Simpson-St. Lewin Critical Rare Earth Elements (CREE) District.

Search Minerals Announces Completion of Fox Meadow Phase 1 Drill Program

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There were 14 drill holes total in the drilling program, totaling 2000 meters (m). Similar to what is seen on the surface, visual REE mineralization has been encountered in every drill hole. Within the next 10 days, Search Mineral’s geology team will log and sample every hole, sending every sample for analysis.

Fox Meadow Drill Program

On November 11th, 2022, drilling began and was finished on December 2nd, 2022.

  • Exploration:
    • One drill rig at FOX MEADOW drilled 45° holes from 100-208 m depth
    • All drill holes were collared in or on the edge of mineralization
    • All core is being lithologically, structurally, and geotechnically logged
    • All logged intervals are being sampled for assay and tested for specific gravity and magnetic susceptibility
  • Drilling Program Results:
    • It is anticipated that all assay results will be received by the end of the 2023 spring
    • Visual REE mineralization has been observed in all drill holes
  • Drill Targets:
    • Extensive channel programs from 2013 to 2021 have outlined numerous medium- to high-grade REE mineralized zones
    • The current program targets high-grade REE zones identified at surface to trace them at depth
    • The drill program is designed to obtain preliminary information on the thickness of the Fox Meadow REE mineralization
    • On surface the mineralization is presently open to the NW and SE along strike and to the SW, perpendicular to strike, in some sections

We are using the drill logging in combination with the surface channel mapping, outcrop mapping, and magnetic data to develop a three-dimensional map of this extensive mineralized zone. We look forward to utilizing our information to develop an exploration program for FOX MEADOW for 2023.

Dr. Randy Miller, Vice-President, Exploration, Search Minerals Inc.

Greg Andrews, President and Chief Executive Officer of Search Minerals Inc. stated, “I would like to thank our team and our drilling operator, Springdale Forest Resources, for their dedication to complete the 2000 m drill program before the end of the year. The drill program targeted high-grade zones in the core of the known surface extent of the mineralization.

He added, “We wanted to trace the high-grade zone at depth and evaluate the overall thickness of the mineralized zone. The pending assays results should provide Search with the preliminary down hole data and the additional information to model our next steps in the development of this property.

Search Minerals will continue to seek strategic partners to advance our prospects in our extensive rare earth element land position. We believe a secure and sustainable rare earth element supply chain can be built in Newfoundland and Labrador, a very mining-friendly and innovative technology-based jurisdiction,” Andrews further stated.

The Fox Meadow project is located 1 km from a three-season forest access road and 11 km west of Port Hope Simpson. On paved and all-season gravel roads, Port Hope Simpson is roughly 40 km northwest of Foxtrot and 50 km from Deep Fox.

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