Rare Earth Element (REE) Projects

Chungju

The Chungju REE Project includes 25 exploration licence applications covering an area of 68.7 km2, in the northern region of Chungcheongbuk-do. The application area comprises metasedimentary (metapelites, quartzites and phyllites) and metavolcanic rocks of the Kyemyungsan Formation of the Okcheon Group. The application area has returned anomalous thorium values of up to 122 counts per second from geophysical survey conducted by government geology agency KIER (Korea Institute of Energy and Resources) in 1986.

The Chungju REE project is adjacent to unmined Eorae San REE deposit, a NE-SW striking 2km long REE mineralised body held by a third party, which formed from an alkaline granite intrusion. Fieldwork by KIGAM indicates that the western edge of the deposit extends into SAU’s ground. Mineralised pegmatites and volcanic rocks from the Eorae San deposit have returned up to 11.9% TREO from historical government drilling.

Jangnam

The Jangnam REE Project includes 53 exploration licence applications covering an area of 143.8 sq Km, adjacent to the unmined Hongcheon REE carbonatite deposit held by a thirds party. The application area includes Precambrian biotite and biotite-hornblende gneiss. The Hongcheon REE carbonatite dykes are up to 50m wide and 2,500m long. The application area has returned anomalous thorium values of up to 160 counts per second from 1986 geophysical survey conducted by government agency KIER. Rock chip samples taken from the Hongcheon REE deposit by government agency KIGAM have returned up to 19.75% TREO.