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  • The technical report is entitled “Technical Report on the Deep Fox and Foxtrot Project, Newfoundland and Labrador, Canada Report for NI 43-101”.
  • Results of the technical report were previously disclosed in summary form in the company’s news release dated June 7th, 2022
  • “The release of this PEA is a milestone for Search Minerals, as it is the foundation for the next steps in our Sprint to Production”
  • The company controls a belt 63 kilometres long and two kilometres wide
  • Search Minerals Inc. (SMY) is down 4.55 per cent trading at C$ 0.10 per share as of 3:55 pm EDT

Search Minerals (SMY) has filed the Preliminary Economic Assessment (PEA) NI 43-101 technical report on the Deep Fox and Foxtrot Project on SEDAR.

The technical report, dated July 18, 2022 is entitled “Technical Report on the Deep Fox and Foxtrot Project, Newfoundland and Labrador, Canada Report for NI 43-101”.

The results of the technical report were previously disclosed in summary form in the company’s news release dated June 7th, 2022, “Search Minerals Announces Positive Preliminary Economic Assessment For The Deep Fox And Foxtrot Rare Earth Element Project With $2.23 Billion NPV(8).”

Greg Andrews, President and CEO, commented on the PEA.

“The release of this PEA is a milestone for Search Minerals, as it is the foundation for the next steps in our Sprint to Production. The information presented is based on our evolving understanding of the deposit, processing technology, project scope and schedule. The CREE markets and demand forecast for the critical minerals, which are the primary product of the Deep Fox and Foxtrot project, remains favorable for our goal to build a secure and sustainable rare earth supply chain in Newfoundland and Labrador for Canada and our allied trading partners. We continue to advance our exploration, resource delineation and pre-feasibility work and are moving towards project development in a responsible and systematic manner.”

Search Minerals Inc. is focused on finding and developing critical rare earth elements (CREE), Zirconium (Zr) and Hafnium (Hf) resources within the emerging Port Hope Simpson – St. Lewis Cree District of southeast Labrador.

The company controls a belt 63 kilometres long and two kilometres wide and is road accessible, on tidewater, and located within thee local communities.

Search has completed a preliminary economic assessment report for Foxtrot, and a resource estimate for Deep Fox. Search is also working on three exploration prospects along the belt which include Fox Meadow, Silver Fox, and Awesome Fox.

Search Minerals Inc. (SMY) is down 4.55 per cent trading at C$ 0.10 per share as of 3:55 pm EDT.


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