CUSCO, Peru. RioSol SAC LLC and Compania Minera Rio Sol SAC (“RioSol” or “The Company”) last month announced a significant rare earth element and poly-metallic claim discovery in Peru, with reports indicating the 10-kilometer Capacscaya and adjacent claims as having the highest rare earth ranges in Peru containing both light rare earth elements (LREEs) and heavy rare earth elements and metals (HREEs).
The report was finalized in early January and supports percentages of Total Rare Earth Oxides (TREOs) at 3 percent or greater within the granite and altered granite ore bodies, according to the geologists leading the work.
Further exploration on this claim is expected in 2015 by the company or partnering with interested parties to further delineate the scale of the claim volumes and concentrations. Companies are encouraged to contact RioSol to gain more information or express indications of interest in the project.
The geology consultants leading the project are both based in Lima. According to the report, “Capacscaya contains both light- and heavy rare earth elements and metals, as well as copper, zinc, cobalt, aluminum, iron and other base metals. It proves that the potential for rare earth elements exists outside of China with significant opportunity for development of new production in Peru.”
Specific rare earth elements ranking high in the study include Neodymium, Scandium, Lathanum, Cerium, Europium and Yttrium, as well as other LREEs and HREEs and their related oxides. Radionuclides were reported as extremely low.
The geologists confirmed the rare earth claim as having the highest range of rare earth metals in Peru, recommending, “litho-magmatic studies, petro-mineralogical and additional geophysical study of the main Capacscaya claim,” followed potentially by diamond drilling to determine volumes, values and potential mining approaches.
Currently, approximately 90-95 percent of rare earth elements are located in China. Having a supply source in the Americas for commodities used today and in the future will be important for geographic diversity and commercial consumption given increasing demand.
The rare earth geologist and RioSol general manager Max Cruz are scheduled to present the results of the project at PROEXPLO 2015, the 9th International Congress of Prospectors and Explorers in May. The rare earth geologist prepared the lithogeochemistry study section of the report.
The claim area is located approximately 123 kilometers northwest of Cusco, Peru, by roads.
Rare earth elements are a group of 17 chemical elements that occur together in the periodic table. The group consists of yttrium and the 15-lanthanide elements (lanthanum, cerium, praseodymium, neodymium, promethium, samarium, europium, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, and lutetium). Scandium is found in most rare earth element deposits and is sometimes classified as a rare earth element.
The rare earth elements are all metals, and the group is often referred to as “rare earth metals.” These metals have many similar properties and that often causes them to be found together in geologic deposits. They are also referred to as “rare earth oxides” because many of them are typically sold as oxide compounds. RioSol’s rare earth oxide levels place it among the most optimistic of all rare earth projects in South America.
Uses of Rare Earth Elements
Rare earth metals and alloys that contain them are used in many devices that people use every day such as computer memory, DVDs, rechargeable batteries, cell phones, catalytic converters, specialty magnets, magnets for wind power generation, fluorescent lighting and much more.
From an economic standpoint, rare earth element claims are among the most sought-after in the world due to the scarcity of commercial deposits.
About RioSol SAC LLC and Compania Minera Rio Sol SAC LLC
RioSol SAC LLC is based in Portland, Oregon, United States, while its operating arm, Compania Minera Rio Sol SAC is headquartered in Cusco, Peru, with legal offices in the U.S. and Peru. The company has operated in Peru for 14 years, building a diverse portfolio of claims ranging from base metals, to platinum group metals to rare earths and lime and aggregate claims.