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  • Medallion Resources brings in rare earth expert Anthony Mariano to assist exploration focus 0 comments
    Sep 17, 2010 8:52 AM | about stocks: IQ, RRLMF, AVL, LYSCF

    Rare earth element exploration focused mining junior Medallion Resources (TSX-V:MDL) has enlisted Anthony Mariano to its now six strong advisory board to speed up the identification of potentially economic rare earth projects.

    Mariano already advises a number of other rare earth element focused companies, including two larger companies in Medallion`s peer group:  Rare Element Resources (TSX-V:RES, AMEX:REE) and Molycorp (NYSE:MCP), which recently completed an IPO.  Medallion`s CEO William Bird was previously CEO of Rare Element Resources until 2007.

     “The commodity that is most rare in the rare-earth field is geological talent; and Tony is among the most talented in the world” said Dr. Bill Bird, Medallion’s president.   “His expertise is invaluable to us, both to cut costs and save time, as we move quickly to identify, pursue and advance the best available and potentially economically viable rare-earth projects.”

    Mariano, who is a globally recognized expert in rare-earth geology and mineralogy, will join an advisory board at Medallion Resources. 

     “It’s great to be working with Medallion Resources and, especially, with Bill Bird again.  Bill has put together a first-rate technical team, as well as a couple of the best available rare-earth exploration properties in North America,” Mariano commented.

    Medallion is currently focused on exploring the Eden Lake REE property in Manitoba, which it has optioned from Rare Element Resources to earn a 65% stake over five years.  During the five year period, Medallion will issue 1.8 million shares, pay CAD$1.45 million in cash and complete 2.25 million of exploration work to earn the 65% interest from Rare Element Resources.

    Eden Lake is a carbonatite complex prospective for neodymium and heavy rare earth elements.  Carbonatites which hosts rare earth element mineralization are a rare type of igneous rock made predominately from carbonate minerals. Many of the world`s REE deposits are found in carbonate minerals.

    The company also holds six mineral licenses in Labrador over the Red Wine peralkaline intrusion which is also known to host heavy REE`s.

    Disclosure: no positions

    Stocks: IQ, RRLMF, AVL, LYSCF
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