Exceptional results from drilling program at Halleck Creek
07 Diciembre 2023 - 8:03AM
American Rare Earths Limited (ASX: ARR | ADRs - OTCQX: AMRRY |
Common Shares - OTCQB: ARRNF)
(“ARR” or the
“Company”) is pleased to announce the exceptional results
from the recently completed diamond drilling program2 at Overton
Mountain, located within the broader Halleck Creek Rare Earths
Project, Wyoming. These results, with pending assays from RC holes,
will provide key inputs to upgrading the current 1.43 billion tonne
JORC Resource3, and furthermore confirms that the deposit remains
open at depth to at least 302 m (990.81 ft). The assays received to
date exhibit TREO averages 4,478 ppm, which is significantly higher
than the 3,309 ppm TREO deposit average from the Company’s previous
resource estimate.
CEO, Donald Swartz commented on the
results: “These drill results are simply outstanding. The
purpose of this drill campaign was to confirm that the deposit is
actually much larger than the current resource model, while also
being homogenous and cost-effective to mine. We are very excited to
upgrade the existing JORC Resource in the near-term as well as with
the future potential given that the depth of enrichment was more
than double previous results. The exploration team has exceeded
expectations, and we eagerly await the forthcoming RC assays. We
have not only seen an increase in grade but also extremely
encouraged that the deposit remains open at depth.”
“Furthermore, the recent metallurgy results
indicate the Halleck Creek Project is similar to a clay hosted rare
earth deposit when it comes to processing technology. The ore
easily leaches and will not require the complex cracking operation
and additional processing steps seen with other hard rock deposits.
Being low in the penalty elements of Thorium and Uranium, places
Halleck Creek in a unique position of having the best of both
worlds (higher grade and easier processing). We are looking forward
to the pending assays, upgrading the resource and rapidly advancing
our flagship project.”
This announcement has been approved by the CEO of
American Rare Earths.
Full JORC Report can be
found here
Competent Persons Statement: The
information in this document is based on information compiled by
personnel under the direction of Mr. Dwight Kinnes. 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 mineralisation 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) owns the Halleck Creek, WY
and La Paz, AZ rare earth deposits which have the potential to
become the largest and most sustainable rare earth projects in
North America. American Rare Earths is developing environmentally
friendly 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. 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 OfficeAmerican Rare Earths
Ltd1658 Cole Blvd, Suite G30Lakewood, CO,
80401info@americanrareearths.com.auamericanrareearths.com.au
For additional information:
Susan Assadi Media Relations
USsassadi@americanree.com347 977 7125
Beverly Jedynak Investor Relations
USBeverly.jedynak@viriathus.com312 943 1123
Figure 1 – Fall 2023 drill hole locations
Figure 2 – Fence Diagram of 2023 Core Holes with
Assays and Gamma Logs
Photos accompanying this announcement are available
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/f42bb888-a0bd-46d1-b778-8981640290d6https://www.globenewswire.com/NewsRoom/AttachmentNg/c3672cc4-0a23-49d3-a5d3-43db45a10893
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