York Harbour Metals president and CEO Bruce Durham discusses the company's focus on critical elements projects in Newfoundland, particularly the Bottom Brook Project, a rare earth element project with immense potential.
The project spans 20 kilometres (km) by 10km and has yielded exceptional results, including some of the highest rare earth values reported, Durham told Proactive's Stephen Gunnion.
Durham emphasized the importance of magnet rare earths in greening the environment and the projected increase in demand for these elements. With around 20% of the rare earths being magnet rare earths, the company is strategically positioned.
He also highlighted the shortage of rare earths globally, with most production concentrated in China, and mentioned efforts to diversify supply chains, such as US government involvement in funding rare earth refineries in Texas.
Durham also discussed the uranium potential of the project, noting the rising demand for uranium as an alternative power source. Funding for exploration and an initial drill program is secured, with a focus on generating positive results for further development. Investors are advised to monitor assay results and potential targets in the project area.
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