Tasman granted Mining Lease for Norra Karr heavy REE project
VANCOUVER, May 21, 2013 /PRNewswire/ – Tasman Metals Ltd. (“Tasman” or the “Company”) (TSXV:TSM; Frankfurt:T61;
NYSE-MKT:TAS). Mr Mark Saxon, President & CEO, is pleased to announce that Tasman has
been granted its Mining Lease for the Norra Karr heavy rare earth
element (REE) project in Sweden. The Mining Lease gives the Company the
full mineral rights for the Norra Karr project for an initial period of
25 years, which is then automatically renewed in 10 year increments if
the mine is in operation. The lease was granted by the Swedish Mining
Inspectorate (Bergsstaten) after extensive stakeholder consultation.
As is standard practice for the grant of new mining leases,
stakeholders have a five week window within which to appeal.
Extensive environmental and social impact data was collected by
independent consultants and assessed by the Swedish Mining Inspectorate
for the granting of the Mining Lease. Environmental baseline data was
gathered over several years, recording flora and fauna, water quality
in streams and lakes, the character of river, lake and soil sediments,
and the biogeochemistry of local plants. Archaeology of the region was
studied, as was waste-rock and tailings composition, leaching
character, and potential locations for future tailings storage.
Regular community meetings were held, and various local and regional
government agencies were informed and consulted. No impediment to the
Norra Karr project was identified during this extensive research.
“The grant of our Mining Lease for Norra Karr is a significant milestone
for the Company, and we congratulate our staff and consultants whose
efforts have brought us so quickly to this point” said Mark Saxon,
Tasman’s President and CEO. “The social impact studies that we
completed highlighted the very positive regional impact that Tasman’s
sustained investment in Norra Karr can bring. As Norra Karr can supply
much of the European demand for REE’s for at least 40 years, we believe
the supply security it shall provide will have a far reaching effect.”
The Norra Karr project is one of the two NI 43-101 compliant REE
resources within the European Union, both 100% owned by Tasman Metals
Ltd. Norra Karr lies 15km NNE of the township of GrÃ¤nna and 300km SW
of the capital Stockholm in mixed forestry and farming land. The short
time taken from discovery to ML application demonstrates the efficiency
and advantage of operating in a jurisdiction with a strong and
transparent Mining Act and a long term association with resource
industries. The project is proximal to road, rail, power and operating
ports, plus skilled personnel, minimizing the need for offsite
infrastructure to be built by the Company.
Norra Karr is one of the largest and most economically robust projects
amongst its peers, due to the high contribution of the high value
critical REE’s (dysprosium (Dy), yttrium (Y), neodymium (Nd), terbium
(Tb)). Substantial capital and operating cost benefits are provided by
the existing infrastructure and the simple mineralogy that allows
ambient temperature and pressure processing. Norra Karr’s proximity
and easy road access to European markets stands as a unique operating
advantage for the project.
About Tasman Metals Ltd.
Tasman Metals Ltd is a Canadian mineral exploration and development
company focused on Rare Earth Elements (REE’s) in the European region
and is listed on the TSX Venture Exchange under the symbol “TSM” and
the NYSE-MKT under the symbol “TAS”. REE demand is increasing, due to
the metals’ unique properties that make them essential for high
technology and environmentally-beneficial applications. Since over 95%
of REE supply is sourced from China, the European Union is actively
supporting policy to promote domestic supply of REE’s, to ensure the
security of high-tech industry. Tasman’s exploration portfolio is
uniquely placed, with the capacity to deliver “high-tech” metals from
politically stable, mining friendly jurisdictions with developed
The Company’s Norra Karr project in Sweden is one of the most
significant heavy REE resources in the world. The resource is
unusually low in radioactive metals relative to peer projects, with
less than 15 ppm each of uranium and thorium.
For more information regarding rare earth elements, see the Rare Metal
Blog at http://proedgewire.com/rare-earth/.
On behalf of the Board,
Mark Saxon, President & CEO
The TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange), the NYSE
– MKT nor the Frankfurt Stock Exchange accepts responsibility for the
adequacy or accuracy of this news release.
Cautionary Note to U.S. Investors Concerning Mineral Resources and
Reserves. In this news release, the definition of “mineral resources” is that used by the Canadian securities administrators and conforms to
the definition utilized by CIM in the “CIM Standards on Mineral
Resources and Reserves – Definitions and Guidelines” adopted on
August 20, 2000 and amended December 11, 2005.
The standards employed in estimating the mineral resources referenced in
this news release differ significantly from the requirements of the
United States Securities and Exchange Commission (the “SEC“) and the resource information reported may not be comparable to
similar information reported by United States companies. The term “resources” does not equate to “reserves” and normally may not be included in documents filed with the SEC. “Resources” are sometimes referred to as “mineralization” or “mineral deposits.” While the terms “mineral resource“, “measured mineral resource“, “indicated mineral resource” and “inferred mineral resource” are recognized and required by Canadian regulations, they are not
defined terms under standards in the United States and normally are not
permitted to be used in reports and registration statements filed with
the SEC. The terms “mineral reserve,” “proven mineral reserve” and “probable mineral reserve” are Canadian mining terms as defined in accordance with National
Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) and the CIM – CIM Definition Standards on Mineral Resources and
Mineral Reserves, adopted by the CIM Council, as may be amended from
time to time by the CIM. These definitions differ from the definitions
in the United States Securities and Exchange Commission Industry Guide
7 (“SEC Industry Guide 7“) under the Securities Act of 1933. Under Canadian rules, estimates of
inferred mineral resources may not form the basis of feasibility or
prefeasibility studies, except in rare cases. Disclosure of “contained
ounces” in a resource is permitted disclosure under Canadian
regulations; however, the SEC normally only permits issuers to report
mineralization that does not constitute “reserves” by SEC standards as
in place tonnage and grade without reference to unit measures.
The estimation of measured, indicated and inferred mineral resources
involves greater uncertainty as to their existence and economic
feasibility than the estimation of proven and probable reserves. U.S.
investors are cautioned (i) not to assume that measured or indicated
resources will be converted into reserves and (ii) not to assume that
estimates of inferred mineral resources exist, are economically or
legally minable, or will be upgraded into measured or indicated mineral
resources. It cannot be assumed that the Company will identify any
viable mineral resources on its properties or that any mineral
reserves, if any, can be recovered profitably, if at all. As such,
information contained in this news release and the documents
incorporated by reference herein concerning descriptions of
mineralization and resources under Canadian standards may not be
comparable to similar information made public by United States
companies in SEC filings.
Cautionary Statements. Certain statements found in this release may constitute forward-looking
statements as defined in the U.S. Private Securities Litigation Reform
Act of 1995. Forward-looking statements reflect the speaker’s current
views with respect to future events and financial performance and
include any statement that does not directly relate to a current or
historical fact. Such statements reflect the current risks,
uncertainties and assumptions related to certain factors including,
without limitations, competitive factors, general economic conditions,
customer relations, uncertainties related to the availability and costs
of financing, unexpected geological conditions, success of future
development initiatives, imprecision in resource estimates, ability to
obtain necessary permits and approvals, relationships with vendors and
strategic partners, the interest rate environment, governmental
regulation and supervision, seasonality, technological change, changes
in industry practices, changes in world metal markets, changes in
equity markets, environmental and safety risks, and one-time events.
Should any one or more of these risks or uncertainties materialize, or
should any underlying assumptions prove incorrect, actual results may
vary materially from those described herein. Forward-looking statements
cannot be guaranteed and actual results may vary materially due to the
uncertainties and risks, known and unknown, associated with such
statements. Shareholders and other readers should not place undue
reliance on “forward-looking statements,” as such statements speak only
as of the date of this release.
SOURCE Tasman Metals Ltd.