American Rare Earths (ASX:ARR) ups exploration target at Halleck Creek
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Assay results from the newly staked Bluegrass claim area have indicated significant upside potential at American Rare Earths’ Halleck Creek Project, adding to its potential to be one of the largest rare earths deposits in the US.
The latest results from American Rare Earths (ASX:ARR) indicate consistent rare earth mineralisation throughout the 24.5 km2 project and they closely follow the very encouraging results from a maiden drill campaign announced in June and July.
The highest observed level of Total Rare Earth Oxides (TREO) from the 71 new surface samples was 5,065 parts per million (ppm). Consistent with existing results from the Red Mountain and Overton Mountain areas, average Total Rare Earth Oxides (TREO) was 3051 ppm and average Magnet Rare Earth Oxides (MREO) was 812 ppm, with the high value MREO 27% of TREO. Light Rare Earth Elements (LREE) averaged of 2738 ppm.
The assays also showed very low levels of penalty elements thorium and uranium, also reflecting results from across the company’s other exploration areas at Halleck Creek and the flagship La Paz project in Arizona.
The negligible amount of these radioactive penalty elements at both Halleck Creek and La Paz project processing the ore more economical. It also gives American Rare Earths a strategic advantage in developing its US Government backed R&D project partnerships as the nation seeks to develop its own supply chain for these critical minerals essential to the clean energy transition, modern communications and national security.
The Bluegrass area is one of three major connected resource areas, with the other two being Red Mountain and Overton Mountain.
All the Bluegrass samples were collected from the same rock type, clinopyroxene quartz monzonite (CQM) within the Red Mountain Pluton, which occurs within the Overton Mountain and Red Mountain Areas.
These latest assays therefore demonstrate that Rare Earth Element (REE) mineralisation may be prevalent throughout most of the Red Mountain Pluton, further adding to the potential boost to Halleck Creek’s exploration target.
MD and CEO Chris Gibbs said: “Halleck Creek continues to exceed our expectations. These are very exciting results for the company coming soon after the highly encouraging drill results from the maiden drill program completed at Halleck Creek earlier this year.”
“The project continues to grow and these results demonstrate the potential of Halleck Creek to become one of the major, large scale, rare-earth mines in North America.”
Halleck Creek currently has an Exploration Target of approximately 308 to 385 million tonnes of rare earths mineralised rocks which, based on these latest results, appears to be significantly underestimated.
The Australian company has now started work to expand Halleck Creek’s existing exploration target and begin drilling for a maiden JORC resource in the mining friendly State of Wyoming.
This article was developed in collaboration with American Rare Earths, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.