Quest Rare's board approves funding for Strange Lake pre-feasibility study
Canadian explorer Quest Rare Minerals (CVE:QRM) said Thursday that its board has approved funding for a pre-feasibility study of the company's Strange Lake B-Zone rare earth deposit, located in northeastern Quebec.
The project work, to be completed towards the end of 2011, has been budgeted at $7.5 million. The technical team for the program has already been selected, said Quest.
The current scope of the study is based on an open pit mine that provides feed at a nominal throughput rate of 4,000 tonnes per day to a plant located nearby the deposit.
"We are very pleased with the quality and level of technical talent that we have been able to assemble for the completion of the Strange Lake project pre-feasibility study," said president and CEO Peter J. Cashin.
At the project, a 21-hole, 3,318 metre diamond drill program has been completed, with assay results pending. Metallurgical sampling work is also underway.
Separately, Quest also said today that it has recently completed a four hole drilling program at its Alterra Strange Lake, Labrador property, under an option agreement with Search Minerals (CVE:SMY).
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