- American Rare Earths (ARR) releases “highly promising” high-grade assay results from its recent exploration drilling at the Halleck Creek project in Wyoming, US
- The preliminary results are from four of nine holes drilled, with results for the remaining five pending assay analysis and expected soon
- The company reported up to 11,981 parts per million (ppm) total rare earth oxides (TREO)
- ARR is now developing a more comprehensive drilling program with the objective of defining a high tonnage maiden JORC resource and updating the exploration target
- Shares in American Rare Earths are up 19.6 per cent, trading at 27.5 cents as of 11:49 am AEST
American Rare Earths (ARR) has released “highly promising” high-grade assay results from its recent exploration drilling in the Halleck Creek project in Wyoming, US.
The preliminary results are from four of nine holes drilled, with results for the remaining five pending assay analysis and expected soon.
The nine holes were drilled for 917 metres and 650 core samples were collected.
The company reported up to 11,981 parts per million (ppm) total rare earth oxides (TREO).
Intercepts from hole HC22-RM01 averaged 4115 ppm TREO over 98.6 metres and HC22-RM02 averaged 4335 ppm TREO over 94.6 metres.
Further, high-value magnet rare earth oxides (MREO) comprised 26 per cent of the TREOs.
CEO and Managing Director Chris Gibbs said the project continues to deliver “way beyond” the company’s expectations.
“The initial acquisition was a tiny land package with some interesting surface data,” he said.
“We have since increased the land holding to over 6000 acres and now beginning to understand the massive nature of this deposit as these drill assay results confirm our extensive field sample work.
“Our focus is to upgrade the exploration target for this project, fast track our drilling efforts and establish a significant JORC resource as soon as reasonably practicable.”
Further, the company is developing a more comprehensive drilling program with the objective of defining a high tonnage maiden JORC resource.
Shares in American Rare Earths were up 19.6 per cent, trading at 27.5 cents as of 11:49 am AEST.