Hudson pulls long rare earth intercepts in Greenland

Vancouver – The final results from Hudson Resources‘ (HUD-V) drill program on its Sarfartoq rare earth element project in Greenland have yielded long intercepts.

The company has released the last 11 results of phase 1 drilling and plans to start almost immediately on a 2,000-metre phase 2 program. The company is exploring the Sarfartoq carbonatite complex that spans 11 km by 9 km. So far Hudson has identified three high-grade prospects in the area: ST1, ST40 and ST19.

The latest results are from the ST1 zone, a 1-km by 500-metre radiometric anomaly roughly 3 km west of ST40. Rare earths found so far on the zone include cerium, neodymium, lanthanum and praseodymium.

Hole 13 cut 310 metres grading 1.02% total rare earth oxides (TREO) from 75 metres, hole 15 hit 133 metres averaging 1% TREO from 111 metres, and hole 17 cut 110 metres carrying 1.48% TREO from 128 metres depth.

The latest results helped push the company’s stock price up 12¢ or 22.2% to close at 66¢. In early January the company’s stock spiked to a 52-week high of $1.67 on no news before falling to roughly 75¢ by the end of the month. The year’s low of 27¢ was hit last August.

Previously released results from phase 1 include hole 8 that cut 346 metres grading 0.99% TREO from 29 metres, hole 4 that hit 126 metres carrying 0.99% TREO from 5 metres and hole 5 that cut 103 metres grading 0.86% TREO from 26 metres depth.

“These drill results continue to demonstrate the high-grade and tonnage potential of the ST1 zone at the Sarfartoq REE project,” said James Tuer, Hudson’s president in a statement. “Given our success to date we have engaged a resource professional to develop a resource model for ST1 and to plan additional drill holes for this zone.”

Early sampling on ST1 showed a rare earth distribution of 45% cerium, 25% neodymium, 15% lanthanum and 6% praseodymium. The company notes that the neodymium concentration in the samples were twice the typical concentration. Neodymium is used to make, among other things, super magnets for electric motors and is one of the more valuable rare earth elements.

In total Hudson controls a 1,300-sq.-km land package near the west coast of Greenland where the company is also exploring for diamonds.