The State Agency for Geology and Mineral Resources of the Kyrgyz Republic (SGA) has approved the first submission from Stans Energy Corp to separate the Kargysh mineralization zone from its Kyzyluraan Field Prospecting Licence.
The SGA issued the Stans Energy KG licence for subsoil use within the Kargysh Ore Occurrence of the Kyzyluraan area for geological exploration of vanadium, molybdenum and uranium for three years until June 16, 2017. The size of the new exploration licence area is 701 hectares.
The second company submission to the SGA is to reduce the size of its Kyzyluraan Field Prospecting Licence from 252.82sqkm to 124.19sqkm. This is still under SGA consideration and would substantially reduce the annual licensing fees paid by the company to the SGA.
Kyzyluraan is one of the original licences held by Stans Energy Corp since 2007. Initially, the intent of exploration was to determine uranium content. However, subsequent geological examination and metallurgical testing has indicated that vanadium, molybdenum and rare earth elements are also occurring throughout the mineralization at the site. Confirmation geological and metallurgical testing is ongoing.
Stans Energy is a resource development company focused on progressing Heavy Rare Earth (HRE) properties in areas of the former Soviet Union. In December 2009, Stans acquired a 20-year mining licence for the past-producing Kutessay II rare earth mine from the Kyrgyz Republic. On May 26, 2011 Stans completed the purchase of the Kashka Rare Earth Processing Plant (KRP) the same plant that previously refined REEs historically from Kutessay II.
The KRP was the only hard rock plant to produce all rare earth elements outside of China, producing 120 different metals, alloys, and oxides. For more than 30 years Kutessay II produced 80% of the rare earth metals for the former Soviet Union. www.stansenergy.com