American Rare Earths Limited
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American Rare Earths' Halleck Creek: A Geological Game-Changer?
American Rare Earths Unveils Phenomenal Drill Results at Halleck Creek, Elevating Prospects for Resource Expansion
Extraordinary Drill Program Unveils High-Grade Results
American Rare Earths (ASX: ARR | ADRs - OTCQX: AMRRY | Common Shares - OTCQB: ARRNF) has disclosed exceptional interim resource drilling findings from its Overton Mountain site within the expansive Halleck Creek Rare Earths Project in Wyoming. The drilling program, comprising eight diamond drill holes, delivered remarkable revelations, particularly the confirmation of consistent enriched Rare Earth Element (REE) mineralization from the surface to an impressive depth of 302 meters (990. 81 feet).
Remarkable Drill Intercepts
One particularly striking intercept from this program revealed a substantial 226. 5 meters (743 feet) @ 5084 ppm Total Rare Earth Oxide (TREO) alongside 1311 ppm of magnet rare earth oxides (MREO). The findings suggest the potential for significantly greater resources at higher grades, as illustrated in the Fence Diagram depicted in Figure 5.
Enhanced TREO Grades
The core holes exhibited an average TREO of 4,478 ppm, marking a substantial 35% increase compared to the company's previous resource estimate, which averaged 3,309 ppm TREO.
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Notably, seven of these holes showcased TREO grades averaging 4,550 ppm, with the eighth displaying a still impressive 3,718 ppm. The drilling revealed the highest TREO grade observed at a staggering 9,881 ppm.
Valuable Insights on Metallurgy
Metallurgical results unveiled the ore's easily leachable nature, eliminating the need for complex cracking operations typically associated with hard rock deposits. With a TREO content of 4,448 ppm, this ore can be readily upgraded to approximately 2% TREO using Wet High Intensity Magnetic Separation (WHIMS) conventional technology.
Company's Response and Future Prospects
American Rare Earths' CEO, Donald Swartz, expressed elation over the outstanding drill findings, emphasizing the goal to expand the current JORC Resource based on these discoveries. Swartz also highlighted the efficient and cost-effective nature of mining operations anticipated due to the homogeneity of the deposit. He further emphasized the project's potential, given the substantial depth enrichment, surpassing previous expectations.
Encouraging Metallurgical Outcomes
Swartz underscored the significance of recent metallurgical findings, highlighting similarities between the Halleck Creek Project and clay-hosted rare earth deposits in terms of processing technology. Notably, the easy leaching of the ore and its low Thorium and Uranium content present a unique advantage, ensuring simplified processing without the complexities typical in other hard rock deposits.
Anticipation Surrounding Pending Assays
The company eagerly anticipates forthcoming assays from the Reverse Circulation (RC) drill holes, which are expected to further enhance the resource estimates. The pending results hold the promise of reinforcing the resource upgrade and expediting progress on the flagship Halleck Creek Project.
Strategic Positioning and Industry Implications
American Rare Earths' achievements at Halleck Creek underscore its strategic positioning in the flourishing rare earths sector. The company's unique advantage of high-grade deposits, ease of processing, and ongoing exploration efforts signals its potential to emerge as a key player in the global rare earths market.
The revelations from American Rare Earths' drilling program at Halleck Creek signal a triumph in exploration endeavors. The extraordinary findings pave the way for potential resource upgrades, establishing the company as a frontrunner in the rare earths sector. The strategic advantages discovered in ore processing methodologies further solidify American Rare Earths' position for continued success in this dynamic and burgeoning market.
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