Pele Mountain Resources Announces Deposit Extension at Eco Ridge Mine

Pele Mountain Resources Inc. announced initial drill results from recent drilling at the Eco Ridge Mine Rare Earths and Uranium Project at Elliot Lake.

Highlights from the first five holes drilled in the Northwest Extension (northwest of the Resource Wireframe) include: All five holes intersected the MCB along a strike length exceeding three kilometres; four of the five holes significantly exceeded the average U3O8 and average Total REO grade of the Resource Wireframe; Hole PM214 returned 0.063-percent U3O8 and 2,125 ppm Total REO over a true thickness of 2.99 metres, including 313 ppm neodymium oxide, 102 ppm yttrium oxide,and 22 ppm dysprosium oxide.

Pele’s President and CEO, Al Shefsky, said:

    "These results conclusively demonstrate that the Main Conglomerate Bed continues to the north and west of the current Resource Wireframe, which can potentially add significant resources and years of mine-life to the project. We are particularly pleased to see higher-than-average grades of U3O8 and Heavy REO in the Northwest Extension".

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