Published: January 9, 2024 |

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American Rare Earths (ARR) has delivered “outstanding” results from its recently completed diamond drilling program at Overton Mountain, situated within the broader Halleck Creek Rare Earths Project in Wyoming.

The highlight of this interim resource drilling campaign is the high-grade intersection of 226.5 meters at 5084 parts per million (ppm) total rare earth oxides (TREO) and 1311 ppm magnet rare earth oxides (MREO).

The assays received to date exhibit TREO averages 4,478 ppm, which is significantly higher than the 3,309 ppm TREO deposit average from the company’s previous resource estimate.

Notably, high-value magnetic rare earths neodymium and praseodymium (NdPr) averaged 23 percent of TREO consistent with prior drilling.

Looking ahead, ARR is awaiting assays for a further 15 reverse circulation (RC) drill holes from the campaign.

EXCEEDING EXPECTATIONS

“These drill results are simply outstanding. The purpose of this drill campaign was to confirm that the deposit is actually much larger than the current resource model, while also being homogenous and cost-effective to mine,” said ARR CEO Donald Swartz.

“We are very excited to upgrade the existing JORC resource in the near-term as well as with the future potential given that the depth of enrichment was more than double previous results. The exploration team has exceeded expectations, and we eagerly await the forthcoming RC assays. We have not only seen an increase in grade but are also extremely encouraged that the deposit remains open at depth,” added Swartz.

“Furthermore, the recent metallurgy results indicate the Halleck Creek Project is similar to a clay-hosted rare earth deposit when it comes to processing technology,” concluded Swartz.

DRILL HIGHLIGHTS

One deep hole was drilled to 302 meters, assays have confirmed consistent enriched rare earth element (REE) mineralization from the surface to 302 meters, where the deposit remains open at depth.

Core holes exhibit a TREO average of 4,478 ppm, which is 35 percent higher than the 3,309 ppm TREO average from the company’s previous resource estimate.

Seven holes exhibit TREO grades averaging 4,550 ppm.

Meanwhile, the highest TREO grade observed is 9,881 ppm.

“The ore easily leaches and will not require the complex cracking operation and additional processing steps seen with other hard rock deposits. Being low in the penalty elements of Thorium and Uranium places Halleck Creek in a unique position of having the best of both worlds (higher grade and easier processing),” said Swartz.

“We are looking forward to the pending assays, upgrading the resource and rapidly advancing our flagship project,” added Swartz.

Source: Proactive Investors

American Rare Earths is a leading explorer and developer of rare earth elements with a strong focus on developing sustainable and cost-effective extraction and processing methods. To meet the rapidly increasing demand for resources essential to the clean energy transition, American Rare Earths is developing its 100 percent owned magnet metals projects, Halleck Creek in Wyoming, and La Paz in Arizona, both with the potential to be among North America’s largest rare earth deposits. The company is concurrently evaluating other exploration opportunities while collaborating with U.S. Government supported R&D to develop a sustainable domestic supply chain for the renewable future.

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