Results from the Trident-Kin Property are very encouraging with the discovery of new in situ mineralization as follow-up to the 2010 discovery of high grade REE boulder samples, which returned up to 5.26% TREO and 2.7% Nb2O5 (see press release dated December 15, 2010). The 2011 exploration program has greatly increased the known extent of the Trident Mountain syenite from 15 linear km to more than 25 km throughout the contiguous Trident and Kin Properties. The syenite sills, which vary in thickness from 5 to 300 m, have associated economic potential for Rare Earth element (REE), niobium (Nb), and Molybdenum (Mo). Very encouraging analytical results were returned in 2011, spanning 1.5 linear km of the syenite trace at the Trident Property, plus another 3.5 linear km of syenite at the Kin property.
Out of 23 rock samples collected along the 1.5 km trace in the Trident Property area, the best values returned (from various samples) were 5.93% TREO, 0.246% Nb2O5, and >2000 ppm Mo. 22% of the 23 samples returned greater than 1.0% TREO, with four of those samples returning greater than 0.1% Nb2O5. The distribution of samples covers a large area (700 m x 700 m), with significant down-dip (downhill) areas yet to prospected.
At the Kin Property, a total of 43 rock samples (including 23 channel samples) were collected from the Amy-Carmen quartz syenite trend, spanning approximately 1 km of strike length. Results returned up to 8.66% TREO, 3.02% Nb2O5, and 62900 ppm Mo. 45% of the 43 samples returned greater than 0.5% TREO with the top 11 samples all returning better than 1.0% TREO. 53% of the 43 samples returned greater than 0.1% Nb2O5. Other elements of interest from the Amy-Carmen trend include values up to 0.12% HREO Y, 166 g/t Ag, 181 g/t Ta, and 1417 ppm Pb. In the region of the Amy-Carmen channel samples, tight folding of the strata has resulted in fold repetition of the syenite sills and generated a repeated stack of mineralized syenite that is approximately 250 m wide. Representative channel samples from this area returned values in the table below:
|Channel 1:||MKKNR016 to MKKNR029 over ~10m|
|%TREO||% Nb2O5||Mo PPM|
|Channel 2:||MKKNR030 to MKKNR033 over 4 m|
|%TREO||% Nb2O5||Mo PPM|
|Channel 4:||MKKNR036 to MKKNR041 over 4 m|
|%TREO||% Nb2O5||Mo PPM|
A second parallel trend of mineralized syenite, quartz veins and associated alteration occurs approximately 500 m south of the Amy-Carmen trend. This parallel trend, dubbed the "Carmen" comprises a broad zone (~250 m wide) of elevated radiometric response. Results from 9 samples collected over a 1 km strike of this zone returned up to 12.63% TREO, 4.97% Nb, 16.4 ppm Mo, and 0.50% HREO Y.
The Trident-Kin property represents a new and exciting property with very significant REE, Nb and Molybdenum mineralization established over 5 km of strike length. The known mineralization is contained within a 25 kilometer long, highly prospective sequence of alkaline intrusions that remain underexplored.
"I am very pleased with how the program is progressing and in the quality of the mineralization we are encountering" stated Jean-Sébastien Lavallée, President and CEO of Critical Elements Corporation.
ABOUT CRITICAL ELEMENTS CORPORATION
Critical Elements is actively developing its 100%-owned Rose lithium-Tantalum flagship project located in Quebec.
A recent financial analysis of the Rose Project based on price forecasts of US$260/kg ($118/lb) for Ta2O5 contained in a tantalite concentrate and US$6,000/t for lithium carbonate (Li2CO3) show an after-tax Internal Rate of Return (IRR) of an estimated 25% for the Rose Project, with an estimated Net Present Value (NPV) of CA$279 million at an 8% discount rate. The payback period is estimated at 4.1 years. The pre-tax IRR is estimated at 33% and the NPV at $488 million at a discount rate of 8%. (Mineral resources that are not mineral reserves do not have demonstrated economic viability).
The project hosts a current NI 43-101-compliant Indicated resource of 26.5 million tonnes of 1.30% LI2O Eq. or 0.98% LI2O and 163 ppm Ta2O5 and an Inferred resource of 10.7 million tonnes of 1.14% LI2O Eq. or 0.86% LI2O and 145 ppm Ta2O5.
Critical Elements is presently in the tendering process for the various aspects of the feasibility study and has commissioned Genivar to complete an environmental impact study of Rose deposit and Acme Metallurgical Ltd. of Vancouver is carrying out project metallurgy.
Critical Elements' portfolio also includes rare-earth and Tantalum-niobium projects in the Rocky Mountains of British Columbia and in Quebec, as well as a 50% interest in the Croinor project, which is located in Quebec and hosts a current NI 43-101-compliant measured and indicated resource of 814,228 tonnes at 9.11 g/t Au, for 238,414 ounces of gold at a 5 g/t cut-off.
Jean-Sebastien Lavallée (OGQ #773), geologist, shareholder and president and chief executive officer of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical content of this release.
Critical Elements shareholders, please contact:
Jean-Sébastien Lavallée, P. Geo, President and CEO
Paradox Public Relations
Vice President, Financial and Regulatory Affairs
and General Manager, Montreal
HKDP Communications and Public Affairs
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.