- American Rare Earths (ARR) is set to launch an exploration drilling program at its Halleck Creek project in Wyoming today
- The drilling will comprise 36 reverse circulation holes to define a maiden JORC resource at the project, with each hole will be drilled to a depth of 150 metres
- An additional 19 holes have also been permitted, should the company decide to further expand the project
- American Rare Earths has hired contractors to undertake the work, which is due to wrap up in mid-December
- American Rare Earths shares are down 2.27 per cent, trading at 21.5 cents at 2:00 pm AEDT
American Rare Earths (ARR) is set to launch an exploration drilling program at its Halleck Creek project in Wyoming, USA today.
The drilling will comprise 36 reverse circulation holes to define a maiden JORC resource at the project. Each hole will be drilled to a depth of 150 metres and a total length of 5,400 metres.
An additional 19 holes have also been permitted, should the company decide to expand the project.
American Rare Earths contracted FTE Drilling USA Inc to undertake the work, which is due to wrap up in mid-December.
The new drill campaign follows the company’s $14 million capital raise in August.
Managing Director and CEO Chris Gibbs said ARR is very excited to commence this drilling program to advance the massive Halleck Creek Project.
“The success of the maiden drill campaign saw us announce on September 1, 2022, the boosting of the exploration target by 328 per cent to a globally significant 1.01-1.27 billion tonnes of rare earth mineralised rocks,” Mr Gibbs said.
“After completing a $14 million placement, announced on 17 August 2022, we are well capitalised to unlock the project’s potential and drive it forward into 2023 and beyond.”
American Rare Earths shares were down 2.27 per cent, trading at 21.5 cents at 2:00 pm AEDT.