VANCOUVER, BRITISH COLUMBIA--(Oct. 5, 2010) - Search Minerals Inc. (TSX VENTURE:SMY) ("SMY" or the "Company") has commenced a 2000m NQ drilling program (the "Drilling Program") on the HighREE Island prospect, located 22 km southeast of Port Hope Simpson, Labrador, in the Port Hope Simpson REE District. This drill program will target REE-Zr-Y-Nb mineralization observed on the surface.
- A $ 500,000 Phase II program has commenced on the HighREE Island Prospect, including a 2000m NQ drilling program;
- 14 holes planned to investigate high grade REE-Zr-Y-Nb mineralization at depth; and
- the Drilling Program will also sample newly discovered disseminated mineralization.
Springdale Forest Resources Inc. (Diamond Drilling Division) has been contracted to carry out the Drilling Program targeting REE-Zr-Y-Nb mineralization at the HighREE Island prospect. Approximately 14 holes (100 to 200m depth) will be spotted to trace and sample high grade quartz-magnetite-amphibole veins and related pegmatites. Newly discovered disseminated mineralization will also be investigated.
HighREE Island is a 1.6km long by 0.8km wide island found in St. Lewis Inlet on the southeast Labrador coast. An all season, maintained, gravel highway (Highway 510) crosses the island, allowing access to the local port facilities, airstrips and infrastructure at Port Hope Simpson, St. Lewis/Fox Harbour and Mary's Harbour. Drill moves are by tracked vehicle and most holes are within 500m of the road.
Logging, sampling and assaying of drill core will be on-going with the Drilling Program; assay results are expected in the near future. Core is transported from the drill site to the nearby road (less than 500m away) and transported by truck to Search's Port Hope Simpson base. The core is split in half using a diamond table saw. One half of the core is kept in core boxes in the core storage facility for reference and the other half is packaged and transported to ActLabs Sample Preparation Lab at Goose Bay. Search representatives maintain custody of the core and samples at all times until they have been delivered to the lab. See Search's July 27, 2010 news release for details of the preparation and assay methods.
Randy Miller, Ph.D, P.Geo, Vice President Exploration, is the Qualified Person responsible for the technical content of this press release.
About Search Minerals Inc.
Search Minerals Inc (TSX VENTURE:SMY) has a strong and dedicated management team with outstanding capabilities in separate but related mining activities, any of which has the potential to generate significant shareholder value. Search's mineral exploration team is led by Vice President Exploration Dr. Randy Miller. Dr. Miller is responsible for directing the current exploration programs on Search's large land position in Labrador. Search also has a technology arm headed up by Dr. David Dreisinger, Chair of Hydrometallurgy at the University of British Columbia in Vancouver, Canada, and a consultant to several major international mining companies. Search's business strategy is to fund new ideas or concepts in the mineral exploration or metallurgical fields that have low initial costs and high potential.
This news release contains forward-looking statements that are not historical facts. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include those risks set out in Search's public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by law, Search disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of the adequacy or accuracy of this release.
Search Minerals Inc.
President and CEO