Fremont & Gunnison Counties
Colorado
Highlights
- The Rare Earth Project is comprised of three claim blocks totaling 130 claims that span across approximately 2,686 acres.
- Both project areas were explored for thorium and uranium in the 1950’s. These minerals often occur in conjunction with rare earth minerals.
- It’s believed that these projects hold the potential to host economic rare earth deposits that would be mined either by open-pit or underground mining methods.
About the Project
It is believed that the Powderhorn and Wet Mountain claim blocks hold the potential to host economic rare earth deposits that would be mined either by open-pit or underground mining methods.
Powderhorn Mountains
Located in the Powderhorn Mountains are 94 claims totaling approximately 1,942 acres. Based on historical data obtained by the Company, the Powderhorn claims were previously explored by sampling outcrops of veins and by drilling.
Field work on the claims will consist of mapping and sampling identified carbonatite veins, as well as utilizing U.S. Geological Survey and Colorado Geological Survey data to locate additional targets for drilling.
Wet Mountains
The Wet Mountains claim block consists of 36 claims totaling approximately 744 acres and has potential resource development of rare earth deposits. In the 1950’s, this project area was explored for thorium and uranium; the presence of these minerals often occurs in conjunction with rare earth minerals. It is believed that this area, along with the Powderhorn claim block, could be mined via open-pit or underground mining methods.
Property Claim Blocks
Fermi Uranium Corp. maintains 130 unpatented mining claims for the Rare Earth Project:
- Powderhorn Mountains – BC and GC Claims (94)
- Wet Mountains – TG Claims (36)
