American Rare Earths 2024 Drilling commences in Cowboy State Mine Area
15 Julio 2024 - 7:03AM
American Rare Earths (
ASX: ARR | OTCQX: ARRNF | ADR: AMRRY)
(“ARR” or the
“Company”) is pleased to
announce commencement of the drilling campaign at the Cowboy State
Mine (
“CSM”) area. This first stage of in-fill
drilling will allow ARR to upgrade resource estimates at CSM while
providing key data for pit design, environmental baseline studies
and additional ore material for metallurgical test work. The
23-hole program contains 11 core holes and 12 reverse circulation
(
“RC”) holes with a planned meterage of
approximately 2,670 meters.
ARR has again partnered with FTE Drilling who
completed the previous 2023 campaign on-time and on-budget. The
seasoned team members will strive to repeat this for 2024.
Donald Swartz, CEO of American Rare
Earths, commented:
"We are excited to commence our 2024 drilling
campaign at the Cowboy State Mine area. This phase of in-fill
drilling is crucial for upgrading our resource estimates and
gathering essential data for pit design and environmental studies.
Our partnership with FTE Drilling, who has consistently delivered
on-time and on-budget, gives us confidence that we will achieve our
goals for this year."
Richard Hudson, Chairman of American
Rare Earths, commented:
"This drilling program marks another significant
step forward in advancing the project towards prefeasibility
analysis. The data and samples collected will provide a solid
foundation for our metallurgical test work and resource modelling,
ultimately enhancing our ability to develop a robust and
sustainable mining operation."
“We look forward to providing investors with
updates on the campaigns as they come through.”
Exploration Plan
Exploration plans for the Cowboy State Mine area
consist of drilling approximately 23 holes (12 RC holes and 11 HQ
core holes) for a total of 2,670 meters (8,760 feet) (Figure 1).
Drilling commenced on July 8, 2024, and will continue for
approximately 6 to 8 weeks into August.
HQ sized core holes will vary in depth between
80 meters and 300 meters for approximately 1,590 meters. RC holes
will vary in depth between 80 meters and 110 meters for
approximately 1,080 metres. ARR geologists will photograph, log,
split core at site, then submit samples to ALS Global for assay.
Remaining core will be held in reserve for additional testing. RC
samples will be collected using rotary splitting unit to provide
three RC samples for logging, XRF, and assay.
The primary objectives of the exploration drilling include:
- Upgrading
resource estimates to include a majority of measured and indicated
resources, which will hopefully be converted to probable reserves
as part of prefeasibility studies.
- Increasing
resources at depth and to the west, defining geological contacts to
the east
- Collecting core
samples for geomechanical testing
- Collecting core
samples for hydrological and baseline environmental testing
- Collecting
samples for additional metallurgical test work
Century Geophysical will collect televiewer and
gamma logs from core holes. WSP will be at site assisting ARR with
interpreting televiewer logs and collecting samples geomechanical
testing.
The Company plans to utilize this drilling data
to update geological resource models that will then feed into
prefeasibility studies for the Cowboy State Mine area.
This announcement is authorized for release by
the CEO of American Rare Earths.
Figure 1 – 2024 Proposed Drill Hole Locations
Figure 2 – Reverse Circulation Rig at Hole
HC24-RM023
Competent Persons Statement:
The information in this document is based on
company work performed in September and October 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 | OTCQX:
ARRNF | ADR: AMRRY) owns the Halleck Creek, WY rare earth
deposit which has the potential to become the largest and most
sustainable rare earth project in North America. The Company 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 (REEs) elements to help ensure a renewable future.
For additional information:Susan
AssadiMedia Relations
USsassadi@americanree.com347 977 7125
Beverly JedynakInvestor Relations
USBeverly.jedynak@viriathus.com312 943 1123
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/29de1e44-1906-48a9-83d3-ff89b74bcf35https://www.globenewswire.com/NewsRoom/AttachmentNg/1b21204c-b67c-4a32-b03e-894c7a9d7abc