American Rare Earths Ltd (ASX:ARR, OTCQB:ARRNF) chief executive officer Donald Swartz sat down with Proactive's Steve Darling to discuss the successful completion of a comprehensive Technical Report of Exploration at its Halleck Creek Property in Wyoming,
Swartz outlines the details of the findings, what this achievement means for the market, and how it will affect the future trajectory of American Rare Earths.
SD: Thank you for joining us today. Can you share what recent milestones American Rare Earths Limited has achieved?
DS: Absolutely, and thank you for having me. We're thrilled to announce the completion of the Technical Report of Exploration for our Halleck Creek Property in Wyoming. This significant milestone not only reflects a comprehensive assessment of our exploration efforts but also reveals a remarkable 64% increase in in-situ tonnes from our initial estimates in September/October 2023.
SD: That sounds impressive. Could you delve into the details of this growth in resource estimates?
DS: Of course. The updated estimate now positions us at 2.34 billion tonnes, with 1.81 million tonnes of that being 27% Magnetic Rare Earth Oxides at 3,196 ppm Total Rare Earth Oxides, using a 1,000ppm TREO cut-off. Notably, our measured and indicated resources have surged by 128%, reaching 1.42 billion tonnes with a grade of 3,295 ppm TREO.
SD: What impact have your 2023 drilling efforts had on these results?
DS: Our drilling efforts last year were pivotal. They not only expanded the lateral and vertical extents of our resource but also uncovered that the deposit remains open at depth and along strike. This finding is exciting because it hints at the potential for further expansion, emphasizing the importance of our ongoing exploration efforts.
SD: How do these developments position American Rare Earths Limited in the rare earths market?
DS: These advancements mark a pivotal moment for us, positioning the company for sustained growth and success in the rare earths market. With the substantial increase in resources and our continuous exploration activities, we are well-equipped to meet the growing demand for rare earth elements and establish ourselves as a key industry player.