American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF) (“ARR” or the “Company”), a leader in the exploration and development of rare earth resources, is thrilled to announce the interim results of its 2023 resource drilling program at the Halleck Creek Rare Earths Project in Wyoming. The program, which included 8 diamond drill holes, has yielded significant findings, underscoring the vast potential of the Overton Mountain area within the project.
Key Highlights of the Drilling Program:
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- Consistent High-Grade Mineralization: A deep hole drilled to a depth of 302 meters (990.81 feet) revealed continuous enriched Rare Earth Element (REE) mineralization from the surface to the bottom of the hole. Notably, the deposit remains open at depth, indicating the possibility of further extensive resources.
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- Exceptional TREO Results: The drilling program encountered a significant intercept of 226.5 meters grading 5084 ppm Total Rare Earth Oxide (TREO) and 1311 ppm Magnet Rare Earth Oxides (MREO). These results are substantially higher than previous estimates, with an average TREO grade of 4,478 ppm across the core holes, representing a 35% increase over the previous average of 3,309 ppm TREO.
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- High-Value Rare Earths: The high-value magnetic rare earths, neodymium and praseodymium (NdPr), averaged 23% of TREO, aligning with results from prior drilling. This consistency is crucial for the economic viability of the project.
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- Advantageous Metallurgy: Preliminary metallurgical results indicate that the ore is easily leachable, without the need for complex cracking operations and additional processing steps typical of hard rock deposits. Utilizing Wet High Intensity Magnetic Separation (WHIMS) technology, the ore can be efficiently upgraded to approximately 2% TREO.
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- Further Results Anticipated: Assays for an additional 15 reverse circulation (RC) drill holes are pending, which are expected to contribute further to the understanding and valuation of the resource.
CEO, Donald Swartz commented on the results: “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. 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 also extremely encouraged that the deposit remains open at depth.”
“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. 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). We are looking forward to the pending assays, upgrading the resource and rapidly advancing our flagship project."
About us:
American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF) owns the Halleck Creek, WY and La Paz, AZ rare earth deposits which have the potential to become the largest and most sustainable rare earth projects in North America. American Rare Earths is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security. The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of rare earth elements to help ensure a renewable future.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
