Molycorp has been granted authorization from the U.S. Bureau of Land Management to begin exploratory drilling at an occurrence of heavy rare earths located near its flagship rare earth manufacturing facility at Mountain Pass, California.

Preliminary exploration at the site has shown rare earth mineralization with an average ore grade of approximately 4% and a relatively high percentage of heavy rare earths, such as terbium, dysprosium, europium and samarium, as well as relatively high percentages of yttrium, neodymium and praseodymium. (www.molycorp.com)

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