American Rare Earths (ASX:ARR) plans to include recent channel sampling results into a resource model for an upcoming Prefeasibility Study (PFS) at the Halleck Creek Rare Earths Project in Wyoming, US.
A channel sampling program was completed across the Cowboy State Mine, part of Halleck Creek, which returned total rare earth oxide (TREO) grades up to 13,651 parts per million (ppm).
The company adds 15 out of 106 samples exceeded 4,500ppm TREO, with magnet rare earth oxides (MREO) averaging 1,023ppm and representing 28% of TREO composition, and heavy rare earth oxides (HREO) averaging 464ppm equaling 13% of TREO.
American Rare Earths, which has a market capitalisation of $149.68 million, says the channel sampling data is being incorporated into a new geological model and mineral resource estimate for the Cowboy State Mine area.
This information will assist with mine planning and support the PFS, which is expected to be completed later this year.
CEO Chris Gibbs says as outlined in a previously reported Scoping Study, a staged development could see Halleck Creek in production as early as 2029.
“Halleck Creek is shaping up to be the next major project in the United States,” Gibbs says.
“With the high-value core four magnet rare earths including neodymium, praseodymium, dysprosium and terbium consistently present across the Cowboy State Mine, we are advancing one of the few US projects capable of supplying these critical materials at scale.
“Importantly, we don’t need federal permitting reform to move forward. Being located on state lands in Wyoming gives us a clear and streamlined path to development. With China’s recent export bans on terbium and dysprosium, the national importance of Halleck Creek as a secure domestic source has never been clearer.”
As a part of other exploration projects, American Rare Earths also collected samples from the Bluegrass and Countryline area of the Halleck Creek project. More information will be released as it becomes available.
American Rare Earths is a critical minerals exploration company focused on expanding the rare earths industry in the US.
Write to Maddison Elliott at Mining.com.au
Images: American Rare Earths
