- American Rare Earths (ARR) completes its drilling program at its Halleck Creek rare earths project in Wyoming, US
- The drilling confirms the rare earth elements containing geological structure are “significantly larger” than previously thought
- Managing Director and CEO Chris Gibbs says the size, scale and consistency of the resource observed is similar to large-scale, long-life copper/gold porphyry mines
- The company is now awaiting assay results to finalise a maiden JORC resource estimate, which it plans on releasing in Q1 2023
- Shares in American Rare Earths are up 6.41 per cent, trading at 20.8 cents as of 12:15 pm AEDT
American Rare Earths (ARR) has completed its drilling program at its Halleck Creek rare earths project in Wyoming, US.
The completion of the 38 hole, 5726-metre program brings the company closer to defining its maiden JORC resource at the project.
The drilling confirmed the rare earth elements (REE) containing geological structure are significantly larger than previously thought.
Geological data showed significant consistent REE mineralisation across the observed samples, with the massive deposit remaining open at depth and likely continuing east into the company’s adjoining Bluegrass prospect.
Managing Director and CEO Chris Gibbs said the size, scale and consistency of the resource observed is similar to large-scale, long-life copper/gold porphyry mines which are common throughout the western United States.
“The exploration target of over a billion tonnes is now being authenticated based on this drilling program,” Mr Gibbs said.
“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.”
The company is now awaiting assay results to finalise a maiden JORC resource estimate, which it plans on releasing in Q1 2023.
Shares in American Rare Earths were up 6.41 per cent, trading at 20.8 cents as of 12:15 pm AEDT.