Rare Element Resources
Bear Lodge Project
Canadian NI 43-101 Technical Report
October 9
th
, 2014
10135-200-46 - Rev. 0
14-55
Table 14.34 - Summary of Inferred Resource by Element
Oxide
Oxide
+
Calcite
Total
Oxide
Clay Transition Sulfide
Total
Tran+
Sulfide
Total
Cutoff Grade
%TREO
1.5
1.5
1.5
1.5
1.5
1.5
1.5
1.5
Short Tons Resource
millions
21.07
10.71
31.78
0.06
1.48
12.71
14.20
46.04
Metric Tons Resource
millions
19.11
9.72
28.83
0.05
1.34
11.53
12.88
41.77
Average Grade
%TREO
2.65
2.46
2.58
4.67
2.42
2.41
2.41
2.53
lbs REO
millions
1,115
527
1,643
6
72
612
684
2,332
kg REO
millions
505.76 239.04 745.25
2.72
32.66 277.60 610.26
1057.78
%Cerium Oxide
Ce
2
O
3
1.14
1.07
1.12
1.96
1.07
1.07
1.07
1.10
%Lanthanum Oxide
La
2
O
3
0.69
0.63
0.67
1.32
0.65
0.64
0.64
0.66
%Neodymium Oxide
Nd
2
O
3
0.48
0.45
0.47
0.80
0.43
0.43
0.43
0.46
%Praseodymium Oxide
Pr
2
O
3
0.130
0.122
0.127
0.223
0.118
0.118
0.118
0.125
%Samarium Oxide
Sm
2
O
3
0.079
0.075
0.078
0.132
0.068
0.068
0.068
0.075
%Gadolinium Oxide
Gd
2
O
3
0.044
0.041
0.043
0.068
0.033
0.033
0.033
0.040
%Yttrium
Y
2
O
3
0.044
0.040
0.043
0.088
0.019
0.020
0.020
0.036
%Europium Oxide
Eu
2
O
3
0.018
0.017
0.018
0.031
0.014
0.014
0.014
0.017
%Dysprosium Oxide
Dy
2
O
3
0.0132
0.0122
0.0129
0.0252
0.0066
0.0070
0.0069
0.0111
%Terbium Oxide
Tb
2
O
3
0.0039
0.0036
0.0038
0.0070
0.0024
0.0024
0.0024
0.0034
%Erbium Oxide
Er
2
O
3
0.0029
0.0026
0.0028
0.0052
0.0013
0.0014
0.0014
0.0023
%Ytterbium Oxide
Yb
2
O
3
0.0017
0.0015
0.0016
0.0026
0.0009
0.0009
0.0009
0.0014
%Holmium Oxide
Ho
2
O
3
0.00155
0.00141
0.00151
0.00303
0.00069
0.00072
0.00072
0.00127
%Lutetium Oxide
Lu
2
O
3
0.00022
0.00020
0.00021
0.00030
0.00012
0.00012
0.00012
0.00018
%Thulium Oxide
Tm
2
O
3
0.00031
0.00027
0.00030
0.00053
0.00014
0.00014
0.00014
0.00025
ppm Thorium
Th
462
456
460
484
279
302
300
410
ppm Uranium
U
84
83
84
96
97
91
91
86
%Iron Oxide
Fe
2
O
3
12.7
11.2
12.2
7.4
8.8
9.1
9.0
11.2
%Manganese Oxide
MnO
2.78
1.89
2.48
0.38
1.83
1.85
1.84
2.28
%Calcium Oxide
CaO
1.1
13.2
5.2
0.3
16.0
18.0
17.8
9.1
Total Light
2.516
2.342
2.457
4.439
2.338
2.328
2.329
2.420
Total Heavy
0.130
0.120
0.127
0.231
0.078
0.080
0.080
0.112
Critical REOs
0.686
0.644
0.672
1.176
0.592
0.589
0.589
0.647
Fraction Heavy
0.049
0.049
0.049
0.049
0.032
0.033
0.033
0.044
(A. Noble, 2014)
14.17.1
High-Grade Resource
High-grade resources, which are those resources above a cutoff grade of 3% TREO,
are particularly important, since they are the focus of mining in the first nine years of
production. The high-grade resource is summarized in Table 14.35. It occurs
predominantly in the Main 1 and Main 3 Zones, which contain 78% of the total
measured and indicated, high-grade resource. All of the high-grade, measured
resource is in the Main 1 Zone, where it is exceptionally continuous and well-drilled.
About 31% of the Main Zone M&I resource is currently in the measured category.
