Final assay results are in following the 2024 drilling campaign at Cowboy State Mine, part of the Halleck Creek Project in Wyoming, and American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) is celebrating the highest grades to date.
Wholly owned subsidiary of American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF), Wyoming Rare (USA) Inc, conducted the drilling campaign, which pointed to multiple high-grade intersections exceeding 5,000 parts per million (ppm) total rare earth oxides (TREO).
ALS Global assayed 492 samples from five reverse circulation drill holes.
Highest TREO ever in area
Final results from the last five holes of the campaign confirm some of the highest-grade TREO intersections ever recorded at the Cowboy State Mine Area.
The company is now confident of the existence of extensive high-grade zones, which position the project as one of North America’s most promising rare earth developments.
Notable high-grade intervals include:
- 148 metres at 4,451 ppm TREO, including 52.5 metres at 5,273 ppm (maximum 6,198 ppm);
- 161.5 metres at 4,275 ppm TREO, including 40.5 metres at 5,287 ppm (maximum 5,869 ppm); and
- 90 metres at 4,353 ppm TREO, including 16.5 metres at 5,313 ppm (maximum 6,049 ppm).
“These exceptional results showcase Halleck Creek’s potential to become a flagship rare earth project for North America," American Rare Earths CEO Chris Gibbs said.
“The high-grade TREO zones identified underscore the significant scale and quality of the deposit and strengthen our confidence in the project’s future.
Strategic defence objectives
“With the US Government’s strong commitment to securing domestic critical mineral supply chains, Halleck Creek is well positioned to fulfil the US Government’s strategic objectives for both the defence industry and an array of economic elements supporting the energy transition.
“Our recent engagement with BMO Capital Markets (NYSE:BMO) and collaborations with industry-leading experts ensure we’re strategically aligned to accelerate the development of this world-class asset.”
The company is on course to wrap up both an updated resource estimate and a pre-feasibility study (PFS) for Halleck Creek in 2025.
ARR will continue to progress discussions with potential partners in a bid to unlock the value of the asset.