American Rare Earths Ltd (ASX:ARR) has tripled its exploration target for the Halleck Creek Project in Wyoming, which the company says is shaping up to be one of the largest rare earth projects in the United States.
The updated conceptual exploration target now outlines between 1.01 and 1.27 billion tonnes of rare earth mineralised rocks with total rare earth oxides (TREO) grades ranging between 2,245 parts per million (ppm) and 2,807 ppm, compared to the previously-disclosed original target of 308 to 385 million tonnes.
Globally, very few rare earths projects exceeded either one billion tonnes of mineralised rock or one million tonnes of total rare earth oxide content, American Rare Earths said, adding that the project’s low penalty elements, access to infrastructure and location in a mining-friendly jurisdiction set it apart from the others.
Halleck Creek exploration target estimates.
World-class asset
ARR managing director and CEO Chris Gibbs said: “The Halleck Creek project is shaping up to become a world-class asset. The maiden drill campaign was a resounding success, and the new exploration target is massive. Assay results exceeded our expectations with consistent rare earth mineralisation observed throughout the deposit.
“We continue to expand the project footprint and the deposit remains open at depth and laterally. We are looking forward to advancing this project and continue increasing shareholder value.”
Exploration target update
The JORC-compliant exploration target estimate is based on the latest surface sampling and 2022 maiden drilling results.
While this may be the case, the company cautioned that the potential quantity and grade of the Halleck Creek resource are conceptual in nature, and there has been insufficient exploration to estimate a mineral resource. It is also uncertain if further exploration will result in the estimation of a mineral resource.
Based on available data, the grade ranges indicate that between 2.8 and 3.56 million in-place tonnes of TREO and between 692,000 and 865,000 tonnes of total magnetic rare earth oxides (MREO) might exist at Halleck Creek.
Moving ahead
With a strong balance sheet strengthened by its recent successful placement, American Rare Earths will accelerate efforts to define a high-tonnage maiden JORC resource, advance metallurgy test-work and fast-track evaluation studies in the near term.
The company will now focus on completing the drilling campaign at Halleck Creek in the near term. Data collected from the drilling will be used to prepare its first detailed geological models of the area and then to define the maiden JORC resource in the first quarter of next year.
Wood and Nagrom has begun metallurgy test-work for Halleck Creek ore and results will be reported when they become available.