American Rare Earths to commence drilling at Halleck Creek
08 Septiembre 2023 - 8:03AM
American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY |
Common Shares - OTCQB: ARRNF) | FSE:1BHA) (ARR or the Company) is
pleased to announce that the Halleck Creek drilling program which
commences later this month aims to upgrade the JORC resource
estimates.
Donald Swartz, CEO, expressed his enthusiasm for
the project’s potential. “Halleck Creek was recently recognized in
the Top Five rare earths projects in the world2. There is potential
to significantly increase the size, quality, and grade of this
deposit. This new program is focussed on adding value by targeting
high grade zones.”
“We are in the heart of the USA, the largest
economy in the world that desperately needs these rare earth
elements,” continues Swartz. “With only 25% of the claims area
explored and open at depth, we have an opportunity to build on the
1.43 billion tonne JORC Resource announced earlier this year. We
are looking forward to executing this drill program and advancing
Halleck Creek as the logical solution for the US Government to
reduce dependency on Chinese rare earths.”
The Company will commence a 23-hole drilling
program at the Overton Mountain sub-area of the Halleck Creek REE
Project in mid-September of 2023 (See figure below). The program
will include eight diamond core holes and 15 reverse circulation
(RC) holes. Seven of the diamond core holes will extend to 80m
(262ft) depth, with one deep hole extending to 305m (1000ft), and
all 15 RC holes extending to 100m (330ft) depth.
JORC Exploration
Target The exploration team have completed the summer
field mapping and surface sampling program in the surrounding
claims (Exhibit 1). The results of this field reconnaissance
program will be announced when completed, along with an
accompanying JORC compliant exploration target. The results of the
work these past few months identified four locations in the County
Line, Bluegrass and Trail Creek claim areas that will be drilled to
confirm the presence of rare earth mineralization and verify
higher-grade material.
Exhibit 1
September 2023 Drilling Campaign
DetailCore from the seven, shallow, 80m (262ft) diamond
holes will provide critical data and information for a variety of
different investigations. Approximately two tonnes of drill core
will be used for additional metallurgical test work. Core will also
be utilized for geotechnical and geomechanical testing to be used
for pit design. The core program will also provide material for a
long-term enviro-engineering study, which will determine how the
ore weathers and decomposes.
Currently, mineralization is still open at
depth. The deep core hole (305m, 1000ft) aims to explore the depths
of mineralization within the Red Mountain Pluton. The deep hole
will also provide additional information for environmental,
hydrological, and permitting studies.
The 15 proposed RC holes will provide data to
define measured resources at Overton Mountain. Cuttings will also
be used for additional test work and research and development
projects as deemed proper.
The timing of drilling in subsequent surrounding
claim areas is dependent on the issuance of exploration
permits.
This market announcement has been authorized for
release to the market by the Board of American Rare Earths
Limited.
Mr. Donald Swartz CEO
Competent Persons Statement:
The information in this document is based on company work performed
in August 2023. This work was reviewed and approved for release by
Mr. Dwight Kinnes (Society of Mining Engineers #4063295RM) who is
employed by American Rare Earths and has sufficient experience
which is relevant to the style of mineralization and type of
deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the 2012
JORC Code. Mr. Kinnes consents to the inclusion in the report of
the matters based upon the information in the form and context in
which it appears.
About American Rare Earths
Limited: American Rare Earths (ASX: ARR | ADRs - OTCQX:
AMRRY | Common Shares - OTCQB: ARRNF| FSE:1BHA) is committed to
becoming a top supplier of critical minerals. The company is a
leading explorer of rare earth projects, with a strong focus on
developing sustainable 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,
American Rare Earths is engaged in advanced study and continued
exploration of its 100% owned rare earth element projects rich in
the magnet elements of neodymium and praseodymium at Halleck Creek
in Albany County, Wyoming and La Paz, Arizona. Both projects have
the potential to be among North America’s largest rare earth
deposits. The Halleck Creek deposit was recently identified by
Mining.com as fifth in the world’s top rare earth projects. A
recently released maiden JORC Resource report for Halleck Creek
shows 1.43 billion tonnes of in-place TREO, 4.73 million tonnes
TREO containing approximately 1.05 million tonnes of the highly
desirable magnet metals neodymium and praseodymium. The Halleck
Creek deposit is located approximately 70km north-east of Laramie
encompassing portions of Albany and Platte Counties in Wyoming. 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 rare earth
elements to help ensure a renewable future.
Head OfficeSuite 706 Level 7,
89 York St.Sydney, NSW 2000Tel 612 8054 9779GPO Box 1546Sydney NSW
2001
US Mailc/o Western Rare
Earths514 Grand Avenue #371Laramie, WY
82070info@americanrareearths.com.auamericanrareearths.com.au
See Appendix – JORC
Table 1 here
For media inquiries, please contact:
Susan Assadi, sassadi@americanrareearths.com.au347 977 7125
Location of planned drill holes for September
2023 campaign
________________________
1 See ASX Announcement 30 March
20232 Mining.Com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/23f978df-f699-42fa-8170-7095142a8bf9
https://www.globenewswire.com/NewsRoom/AttachmentNg/193b4b1b-eb5d-49f4-8ea5-bb8ead708cfa
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