Redhill Resources has signed the mineral claim purchase agreement with Blair Naughty to buy 100% interest in the Morgan mineral claims, which is situated in the Wicheeda carbonatite belt in Central British Columbia.
The size of Morgan property is about 4,200 hectares, located in the locality of Canadian International Minerals’ Carbo rare-earth element property. The western frontier of the claims is around seven kilometers east of the Canadian International Minerals Carbo property.
Moreover, the Morgan property is in the nearby area of Spectrum Mining’s Wicheeda discovery of carbonatite-hosted rare-earth elements. Spectrum has presented a paper titled, "The Wicheeda Carbonatite-Syenite Breccia Intrusive Complex Hosted Rare Earth Deposit," based on the drilling results of 2008 and 2009. In the paper, it has been mentioned that Spectrum has intersected 12,924 ppm Cerium , 6,403 ppm Lanthanum and 2,599 ppm Neodymium over 144 metres in hole 2009-09 and 18,310 ppm Cerium, 7,296 ppm Lanthanum and 3,547 ppm Neodymium over 72 metres in hole 2009-07. Spectrum has drilled 11 holes, 1,835 metres in total into the 'Main Zone' from the two new drilling platforms, in 2009. The company has encountered major rare earth mineralization in all eleven drill holes and the Wicheeda deposit is open in all directions.
Under the agreement, Naughty has received $10,000 in cash and 2.5 million common shares of Redhill for the 100% interest.
Source: http://www.redhill-resources.com/