American Rare Earths (ASX:ARR) reports final assay results for the 38 reverse circulation (RC) hole drilling program indicate a ‘significant’ rare earth deposit at its Halleck Creek Rare Earths Project in Wyoming, US.
The company reports new assays have confirmed rare earth mineralisation extending from surface to new depths in the Overton Mountain area.
Additionally, the drill program has demonstrated consistent rare earth grades throughout both the Overton Mountain and Red Mountain areas.
American Rare Earths reports major intercepts from the new assays display ‘outstanding’ drill results with consistent total rare earth oxides (TREO) grade from surface.
These results include hole HC22- RM011 averages 3,236 parts per million (ppm) TREO over 150m; HC22- OM010 averages 3,080ppm TREO over 145.5m; and HC22- OM011 averages 4,219ppm TREO over 147m.
American Rare Earths says these assay results demonstrate that the clinopyroxene quartz monzonite (CQM) remains the primary rare earth element (REE) bearing unit within the Red Mountain Plunton (RMP).
“These results confirm American Rare Earths has discovered a strategically significant rare earth deposit in the USA at Halleck Creek”
Commenting on the assay results, American Rare Earths Managing Director Chris Gibbs says: “These results confirm American Rare Earths has discovered a strategically significant rare earth deposit in the USA at Halleck Creek. The deposit covers over 10km-square and is potentially the largest rare earth deposit in North America.
The consistency of TREO grades at increased depth is perhaps the most significant element of the results thus far, considering the small area of the project drilled to date and the consistency of surface samples across the entire project area.”
The company’s team is currently working toward releasing a maiden JORC resource by the end of March 2023.
American Rare Earths is developing its wholly owned magnet metals projects, La Paz in Arizona, and Halleck Creek in Wyoming. Both projects have the potential to be among the ‘largest’ rare earth deposits in North America.
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