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A new rare earth mineral assay commissioned by Green Technology
Solutions’ (OTCQB:GTSO) joint venture in Mongolia confirms the presence
of rare elements at the first of several mining properties that the
company plans to develop in the Central Asian nation.
Last month, the Mongolian agent company for GTSO’s joint venture with
Rare Earth Exporters of Mongolia (REE) signed a letter of intent to
develop a new licensed rare earth mine in Mongolia’s Tuv province.
According to the letter, the joint venture has the right to seek
investors, scientists and other professionals in performing due
diligence toward a definitive agreement with ArErkhes, LLC, the mine’s
license holder. GTSO and REE commissioned a mineral assay of the site by
SGS Mongolia Minerals to determine what rare earths are present in the
GTSO President and CEO John Shearer said Tuesday that the assay’s
results were “better than expected.”
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