- American Rare Earths (ARR) increases its Halleck Creek project’s exploration target by 328 per cent
- The Wyoming-based project’s exploration target is now between 1.01 and 1.27 billion tonnes of rare earth mineralised rocks grading between 2245 and 2807 ppm TREOs
- ARR says very few rare earths projects exceed one billion tonnes of mineralised rock or of TREO content, positioning the Halleck Creek project as a “world-class asset”
- The company is continuing its drilling work at the project and will use the results to deliver a maiden resource estimate in the first quarter of 2023
- American Rare Earths shares are up 2.13 per cent to trade at 24 cents at 3:47 pm AEST
Following a successful maiden drilling program, American Rare Earths (ARR) has increased the exploration target for its Halleck Creek project in Wyoming.
The exploration target now stands between 1.01 and 1.27 billion tonnes of rare earth mineralised rocks grading between 2245 parts per million (ppm) and 2807 ppm total rare earth oxides (TREOs).
This marks a significant 328 per cent increase from the previous exploration target and positions the Halleck Creek project to potentially be one of the largest rare earth projects in North America, according to ARR.
The company made the point that very few rare earths projects in the world exceeded one billion tonnes of mineralised rock or one million tonnes of TREO content.
“The Halleck Creek project is shaping up to become a world-class asset,” Managing Director and CEO Chris Gibbs said.
“We continue to expand the project footprint and the deposit remains open at depth and laterally. We are looking forward to advancing this project and continue increasing shareholder value.”
Looking ahead, the company will continue drilling at the Halleck Creek project and will use the data to define a maiden JORC mineral resource estimate in the first quarter of 2023.
American Rare Earths is also undertaking metallurgical testwork on the ore at Halleck Creek.
Company shares were up 2.13 per cent to trade at 24 cents at 3:47 pm AEST.