American Rare Earths sets sights on significant Mineral Resource Estimate
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The latest assay results from American Rare Earths’ Halleck Creek project have confirmed the extension of the rare earths zone by 50%, bringing the company a step closer to defining a substantial maiden JORC resource this Quarter.
The results for 998 samples from 10 holes American Rare Earths (ASX: ARR) punched into the Wyoming project prove there’s enriched rare earth mineralisation at depths of 150m, a 50% increase on previous drill assays.
And there’s still potential for more growth as mineralisation remains open at depth. The project already has a globally significant exploration target of 1.01-1.27 billion tonnes of rare earth mineralised rocks.
CEO and Managing Director Chris Gibbs said: “These are outstanding results as previous core drilling had confirmed mineralisation to only 100m. Just as importantly, mineralisation is open at depth. These results further enhance our belief that the Halleck Creek district is one of the largest, rare earth deposits on a global scale. It’s also shaping up to be a key strategic project for the US as it seeks to develop its own critical minerals supply chain to resource the renewable future and reduce dependence on China.”
The assays have additionally confirmed key high-value magnetic rare earths comprise 27% of deposit and Total Rare Earth Oxide (TREO) values reach up to 8,359 parts per million (ppm).
In another positive, assays continue to show low levels of penalty elements thorium and uranium. This, along with other features of Halleck Creek ore, cut costs and the environmental impacts of separating the in-demand minerals from the host material.
This news comes just a week after ARR filed 118 new mining claims in the district.
The claims add ~855ha to the district, bringing the total area controlled by ARR to 3304ha and expanding total claims in the region by 26%.
Company geologists plan to do geological mapping and surface sampling across this new County Line area in the first half of this year.
ARR is now eagerly waiting on more drill assay results and updating the market on further metallurgical test work also currently in progress.
It also expects to announce a Maiden Resource Estimate for Halleck Creek by the end of the first quarter as exploration continues.
At the same time ARR continues to work with leading R&D partners including the US Department of Energy Innovation Hub, the Critical Minerals Institute and the Critical Materials Institute.
The aim of this R&D is to transform not just ARR but also the rare earths industry into a cleaner and more sustainable one.
ARR is also advancing its La Paz project in Arizona, which has a has a current JORC Resource estimate of 170MT with ongoing work targeting ~742-928MT of rare earths mineralised rocks to establish a JORC resource for the SW area.
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.