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American Rare Earths deliver “outstanding” REE results

The date of: 2023-12-08
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source:proactive investors

American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has delivered “outstanding” results from its recently completed diamond drilling program at Overton Mountain, situated within the broader Halleck Creek Rare Earths Project in Wyoming.

The highlight of this interim resource drilling campaign is the high-grade intersection of 226.5 metres at 5084 parts per million (ppm) total rare earth oxides (TREO) and 1311 ppm magnet rare earth oxides (MREO).

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. 

Notably, high-value magnetic rare earths neodymium and praseodymium (NdPr) averaged 23% of TREO consistent with prior drilling.

Looking ahead, ARR is awaiting assays for a further 15 reverse circulation (RC) drill holes from the campaign.

Exceeding expectations

ARR CEO Donald Swartz said: “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 are 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.'

Drill highlights

One deep hole was drilled to 302 metres, assays have confirmed consistent enriched rare earth element (REE) mineralisation from the surface to 302 metres, where the deposit remains open at depth.

Core holes exhibit a TREO average of 4,478 ppm, which is 35% higher than the 3,309 ppm TREO average from the company’s previous resource estimate.

Seven holes exhibit TREO grades averaging 4,550 ppm.

Meanwhile, the highest TREO grade observed is 9,881 ppm.

Swartz adds: “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.”

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