American Rare Earths (ASX:ARR) reports ‘high-grade’ field assay results at the new Beaver Creek Rare Earth Project in Wyoming, US.
Final assay results from ALS Global confirmed TREO grades between 5.8% and 13.9%.
American Rare Earths says assays for the valuable magnetic rare earths, neodymium, and praseodymium ranged between 1% and 2.2%.
Addressing the results, American Rare Earths CEO Donald Swartz says the deposit is open at depth and historic reports indicate that the rare earth mineralisation-outcrop may extend over 457m (1500 feet).
“We are enthusiastic about increasing our claim holdings and look forward to conducting further exploration activities to unlock the potential of this new high-grade discovery.”
The Beaver Creek REE Project area is north of the Company’s flagship Halleck Creek Project. The State Mineral Lease at Beaver Creek REE project covers 640 acres (259 hectares) in Johnson County, Wyoming.
The newly acquired state section at the Beaver Creek REE project increases the company’s holdings in the region by 85% from 749 acres (303 hectares) to 1,389 acres (562 hectares).
The company says importantly, the state mineral lease is directly along strike from previously examined outcrops, and has the potential to contain additional, highly enriched REE mineralisation.
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.
Write to Adam Orlando at Mining.com.au
Images: American Rare Earths
