Sydney, Australia – 19 August 2024 | American Rare Earths Limited (ASX:ARR | OTCQX:ARRNF | ADR:AMRRY) ("ARR" or "the Company") is pleased to announce the successful completion of its 2024 drilling campaign at the Cowboy State Mine ("CSM") area, a key component of the Halleck Creek Project located in Wyoming, USA. The drilling program has been completed ahead of schedule, with significant progress made towards advancing the project’s development.
Highlights:
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Drilling Campaign: The 2024 drilling campaign included the completion of 12 Reverse Circulation (RC) holes and 11 HQ core holes, totaling 2,616m (8,581 feet) drilled. Two core holes were drilled to depths of 300m, indicating that the rare earth mineralisation remains open at depth.
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Sample Analysis: A total of 1,348 samples (689 RC and 659 core samples) were collected, logged, and shipped to ALS Global for splitting and assay. The assay results will be crucial to updating geological models and the resource estimate.
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Initial Findings: Lithologic logs from the core holes show the presence of the Red Mountain Pluton (RMP) at the base of each hole, reinforcing the potential of the deposit. The data collected will be used to refine the upcoming Pre-feasibility Study ("PFS") for the Cowboy State Mine area.
Comments from the CEO:
Chris Gibbs, CEO of American Rare Earths, commented: "The team at Wyoming Rare (USA) (“WRI”) continues to demonstrate the exciting potential for this world class deposit at the Cowboy State Mine area, which forms part of the Halleck Creek District. The drill program was successfully completed ahead of schedule, and we look forward to the pending assay results.
We continue to see the significant upside potential with mineralisation observed to depths of at least 302m. The primary focus of WRI is to develop the Cowboy State Mine on a portion of the Halleck Creek Wyoming State Tenements. The results of this drill campaign will be instrumental for updating our geological models, resource estimate and input for the upcoming Pre-feasibility Study.”
Next Steps:
As geologists continue to log core and update drill hole databases, further televiewer logs of the final core holes and gamma logs of the open RC holes will be collected. Professional surveyors will finalise the locations of each drill hole, which will be incorporated into the geological models. The assay data will be crucial in updating resource estimates and laying the groundwork for the PFS.
For further information, please contact:
Jane Morgan
Jane Morgan Management
Investor and Media Relations
[email protected]
About us:
About American Rare Earths Limited:
American Rare Earths (ASX:ARR | OTCQX:ARRNF | ADR:AMRRY) owns Wyoming Rare (USA) Inc. which is focused on the development of the Halleck Creek Project, WY. It also owns La Paz, AZ rare earth deposit. Both can potentially become the largest and most sustainable rare earth projects in North America. The Company 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 (REEs) elements to help ensure a renewable future.
Contact details:
Jane Morgan
Jane Morgan Management
Investor and Media Relations
[email protected]