American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) has completed its 2024 drilling campaign at the Cowboy State Mine (CSM) area, with two core holes drilled to 300 metres indicating rare earth mineralisation and the deposit remaining open at depth.
Results from the program will be used to update geological models, resource estimate and input for an upcoming pre-feasibility study (PFS).
Drilling illustrates potential
The company drilled 11 HQ holes for a total length of 1,585 metres and completed 12 reverse circulation (RC) holes to a total length of 1,031 metres.
Combined, the company drilled a total length of 2,616 metres (8,581 feet) and collected 689 RC samples and 659 core samples, for a total of 1,348 samples. These have been logged and shipped to ALS Global for splitting and assay.
Core from HC24-RM024 at 302m showing RMP rocks.
While data is expected to determine rare earth element (REE) grades, lithologic logs show Red Mountain Pluton (RMP) at the base of each core hole.
"The team at Wyoming Rare (USA) continue to demonstrate the exciting potential for this world-class deposit at the Cowboy State Mine area, which forms part of the Halleck Creek District," American Rare Earths CEO Chris Gibbs said.
"The drill program was successfully completed ahead of schedule and we look forward to the pending assay results.
“We continue to see the significant upside potential with mineralisation observed to depths of at least 302 metres.
"The primary focus of WRI is to develop the Cowboy State Mine on a portion of the Halleck Creek Wyoming State Tenements.
"The results of this drill campaign will be instrumental for updating our geological models, resource estimate and input for the upcoming pre-feasibility study (PFS).”
Further data needed
The preliminary lithology of drill holes in the southeast and northeastern corners of State T22N R71W Sections 25 and 36, respectively, has been compiled, along with gamma logs. As assay data is received from ALS Global, final interpretations will be made.
Geologists are continuing to log core samples and update drill hole databases. Further data collection is needed, including televiewer logs for the final core holes and gamma logs for the open RC holes. Additionally, the final locations of each drill hole will be surveyed by professional surveyors for integration into geological models.
As assay data becomes available, geological and grade resource models will be updated. These models will form the basis for future resource estimates and a planned pre-feasibility study for the Cowboy State Mine area.