CSE-listed Quebec Rare Earth Elements (QREE) is buying additional lands abutting the Lynx rare earth elements (REE) project, in Quebec.
The additional property abutting Lynx was acquired by staking and covers a further 2 542 ha for a total of 4 577 ha.
QREE believes the Lynx project has “excellent” potential for an REE discovery.
“With the increasing need for green energy sources to reduce carbon dioxide emissions, we believe that the need for REEs will significantly increase in the near term. The fundamental REE demand for permanent magnets and the need for customers and governments to seek REE supply chains outside of China will drive REE demand in mining jurisdictions like Quebec.
"The Saguenay area is a favourable area for REE mineralisation as indicated by proximate known carbonatites and niobium/REE deposits. Despite this favourable setting, the Lynx project has never been drilled,” said president and CEO Benoit Desormeaux.