Rare Earth Metals has recently acquired the Manitouwadge Graphite Property, through staking. The Manitouwadge Graphite property is situated roughly 30 km north of the Manitouwadge town in northwestern Ontario. It includes 128 staked claim units, adding up to 2072 ha.
The property encloses a number of airborne electromagnetic conductors and the Thomas Lake Road Graphite Occurrence, which is referred as a flake graphite showing that occurs inside a structural zone measuring 4 m wide within altered sediments.
The staked claims cover several airborne electromagnetic anomalies. These anomalies were identified from a 1989 geophysical survey. The flake graphite showing coincides with one of the airborne electromagnetic anomalies. However, the origin of the conductors is yet to be determined.
The Manitouwadge Graphite Property comprises several encouraging elements that include a geological setting comprising of recrystallized metasediments, an identified flake graphite showing, and the occurrence of several airborne electromagnetic anomalies ‘conductors’, one of which is close to the flake graphite showing.
Rare Earth Metals had conducted a preliminary grassroots project of geophysics/trenching/sampling on the Thomas Lake Road Occurrence. Prospecting of the airborne electromagnetic anomalies ‘conductors’ will be planned post breakup. The company is looking for a partner to finance the exploration venture.
The President and CEO of Rare Earth Metals, Michael Stares commented that the requirement for coarse flake graphite is rising exponentially because of novel technology applications like lithium ion batteries, which need 20 folds more graphite than lithium. China controls the graphite market, in addition to controlling the rare earth element market. The country generates 75% of the global graphite supply, but mainly concentrates on producing tiny flake graphite at 2% to 6% grade. Stares continued that the Manitouwadge Graphite Project will require only minimum funds and will complement the company's set of metals properties.
Source: http://www.rareearthmetals.ca/