Results line up for big target at Halleck Creek
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Halleck Creek is a project that just keeps giving for Australian-based American Rare Earths, with the company now on target to define a significant JORC resource this quarter.
Geological data continues to show enriched rare earth mineralisation from surface to depth of drilling at 150m – a 50% increase on the 100m in the maiden drill campaign and not included in the already substantial exploration target announced last year.
That target currently stands at 1.01-1.27 billion tonnes of rare earth mineralised rocks, an impressive figure given very few rare earths resource estimates across the globe exceed one billion tonnes.
That already gives the Wyoming project the potential to be one of the largest rare earths deposits in North America.
Now notable upside is expected with deposit also remaining open at depth and continuing east into the neighbouring Bluegrass prospect at American Rare Earths’ (ASX:ARR) 100% owned Wyoming project.
The 2,459 ha project is also a standout because unlike many large rare earths deposits it has almost negligible penalty radioactive elements uranium and thorium, and is close to infrastructure.
Within the resource estimate is 692,000 to 865,000 tonnes of high value Magnet Rare Earth Oxides (MREO), including neodymium (Nd) and praseodymium (Pr) oxides, which are in hot demand for clean energy technology such as EVs and offshore wind turbines.
Another plus for the project is that its outstanding metallurgy will reduce capital and operating costs via the use of conventional technology, opening up the pathway to early production.
The +1 billion target was announced last September after outstanding assay results from the maiden drill program led to a tripling of the original exploration target of 308–385 million tonnes.
Managing Director and Chief Executive Officer Chris Gibbs said: “We have a major deposit here, the size scale and consistency of the resource we are observing is similar to large-scale, long-life copper/gold porphyry mines which are common throughout the western US.
“The exploration target of over a billion tonnes is now being authenticated based on this drilling program.
“The drill results together with the positive metallurgical studies amplify the significant value of Halleck Creek’s potential as a key domestic US rare earth supplier.”
ARR is now eagerly awaiting assay results from the 38-hole, 5726m drill program to finalise a maiden JORC resource estimate, planned for this Quarter.
The company is also advancing its La Paz project in Arizona, where ongoing work is targeting an additional ~742-928MT of rare earths mineralised rocks to establish a JORC resource for the South-West area to boost the current JORC Resource estimate of 170MT.
Like Halleck Creek, La Paz has almost negligible radioactive elements, is rich in high-value NdPr in ore that has yielded positive metallurgy results.
The Australian company is also actively involved in developing a clean, sustainable and secure rare earths supply chain for North America through its involvement with a number of top tier R&D programs including a US Department of Energy (DOE) Innovation Hub, the US Defense Department Advanced Research Projects Agency’s (DARPA) Rare Earth Elements (REE) bioengineering research program and more.
The company has a long runway for growth with $17.4m cash in the bank at the end of the past Quarter.
This article was developed in collaboration with American Rare Earths, a Stockhead advertiser at the time of publishing.