International Bethlehemâ€™s Rare Earths Property Ready To Drill
December 16, 2010
West Vancouver, British Columbia â€" December 16, 2010 â€" International Bethlehem Mining Corp. (the â€śCompanyâ€ť or â€śInternational Bethlehemâ€ť) is pleased to report that it has confirmed the presence of Rare Earth Elements (â€śREEâ€ť) and niobium and tantalum on its Myoff Creek Property.
The Myoff Creek REE Property (formerly known as the REN carbonatite) is located about 59 km northwest of Revelstoke, British Columbia (45 km north of the Trans Canada Highway via a primary gravel logging road and then approximately 8 km via a secondary logging road which requires some minor rehabilitation).Â Historically, the Property has been viewed as a potentially significant REE property following its initial staking in 1982 by Duval International Corporation.Â Since then the Property has been explored by prospecting, geological mapping, silt, soil and pan concentrate sampling, magnetometer and spectrometer/scintillometer surveys, and by an aggregate of approximately 750 metres of trenching and sampling in 8 trenches covering approximately 1 kilometre of strike length. Most of the REE carbonatite zone on the Property is exposed on a gentle north facing subalpine slope. The historical work on the Property was completed by the previous property owners, Duval International Corporation, Teck Corporation and Cross Lake Minerals Ltd. Most recently, the Company has conducted its own initial investigations on the Property. At that time, the northern most trench, MT-01-1 (of the 8 trenches that were historically explored), was sampled. A grab sample of 2.96 kg that was taken from MT-01-1 trench was subsequently assayed at ALS-Chemex (ALS Canada Ltd.) in North Vancouver, BC for ICP-MS 38 element fusion (ME-MS81) and returned 815 ppm Nb2O5 (Niobium), 43 ppm Ta2O5 (Tantalum), 2,068 ppm Ce2O3 (Cerium) , 1,061 ppm La2O3 (Lanthanum) and a significant 994 ppm Nd2O3 (Neodymium). Preliminary results tend to underline and confirm the generally erratic distribution of the elements of economic interest in the host carbonatite. The analysis to date by the Company suggests an enrichment of Niobium, Tantalum and to some extent Cerium, Lanthanum and Neodymium in the central and hanging wall portions of the REN carbonatite.
â€śIn light of the current demand and lack of supply of Rare Earth Elements, the decision to acquire and the planned exploration of the Myoff Creek Property could not have been made at a more timely moment.â€ť, says Ronald Coombes, President and CEO of International Bethlehem Mining Corp.
The Myoff Creek REN carbonatite is a sheet-like body of intrusive carbonatite striking northwest-southeast and dipping from 25 to 45 degrees southwest. Extensive zones of mafic biotite-rich pyroxene-amphibole fenite and potassic feldspar-albite fenite occur as alteration envelopes peripheral to and within the carbonatite. The REE carbonatite zone has been traced for approximately 3 kilometres along strike and varies in width from 10 to 200 metres. The estimated size of the REE carbonatite at surface may allow for significant potential of tonnage within the mineralized carbonatite.
Necessary approvals for the Company's 2011 Mines Act Permit have recently been obtained (subject to the Company completing the bonding requirements). The planned core drill program will test (for the first time) the grade and thickness of the REN carbonatite to a depth of 100 metres below the zone of surface weathering. Up to 16 drill holes from 8 locations (totaling 2,500 metres) are planned. All drill hole locations fall on existing logging roads or skid trails, thus minimizing impact on the local environment.Â
International Bethlehem has an option to earn a 100% interest in the Myoff Creek Property upon issuing 1,000,000 shares to the vendor of the Property (250,000 issued to date) and incurring $250,000 in exploration expenditures over a three year period.
Any historical data and information contained in this new release does not meet current NI 43-101 standards, and therefore, can not be relied upon. Robert Middleton, P.Eng., who is acting as the Qualified Person for the Companyâ€™s Myoff Creek Property project in accordance with regulations under NI 43-101, has reviewed this news release and believes that the historical data and information is relevant and was calculated by competent geologists to the standards of the period in which it was calculated.
For further information, contact Mr. Clive Shallow, investor relations at 604-922-2030 or visit the Companyâ€™s website at www.bethlehemmining.com .
International Bethlehem Mining Corp.
â€śRonald A. Coombesâ€ť
Ronald A. Coombes, President & CEO
NeitherÂ 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.
This news release includes certain statements that may be deemed â€śforward-looking statementsâ€ť within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.