TSX.V: SMY
Search Minerals controls a rapidly emerging Critical Rare Earth Element (CREE) District in SE Labrador that is road accessible and on tidewater. The FOXTROT Deposit, on which a favourable Preliminary Economic Assessment was completed in April 2016, was the first of three important discoveries. Based on surface expression, the other two, Deep Fox and Fox Meadow, appear to be at least as large as FOXTROT. Surface channel sample assays at Deep Fox yielded grades 15% higher than channels at FOXTROT. Search has identified more than 20 other prospects in this highly accessible District and has developed a proprietary, scalable, hydrometallurgical process to optimize every opportunity to position as a competitive low-cost supplier of CREEs well into the future.The Company enjoys tremendous support from the Government of Canada and the Province of Newfoundland and Labrador, both of which have financially supported the development of our proprietary metallurgical process. In addition, Search personnel on the ground have built strong relationships with local communities and with the Nunatukavut Community Council who represent the local aboriginal people. All of these factors will help to ensure that our project can be brought into production at relatively low capital and operating costs and in a timely manner.
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