American Rare Earths Ltd (ASX:ARR) is on target to define a ‘substantial’ maiden rare earth element (REE) resource after its recently completed drill program at the Halleck Creek Rare Earths Project in Albany County, Wyoming, USA.
The completion of the 38-hole drill program across 5,726 metres brings the company closer to its maiden JORC resource, which is set to be released this quarter.
In this campaign, ARR drilled to a depth of 150 metres, where mineralisation was observed to depths of 50% more than the exploration target.
Geological data shows significant consistent REE mineralisation across the observed samples, with the massive deposit remaining open at depth and likely continuing east into the company’s adjoining Bluegrass prospect.
ARR is awaiting assay results to finalise the maiden JORC resource estimate, which has been sent to ALS laboratories for analysis.
Key domestic US rare earth supplier
ARR managing director and CEO Chris Gibbs said: “We have a major deposit here, the size scale and consistency of the resource we are observing is similar to large-scale, long-life copper/gold porphyry mines which are common throughout the Western United States.
“The exploration target of over a billion tonnes is now being authenticated based on this drilling program.
“The drill results together with the positive metallurgical studies amplify the significant value of Halleck Creek’s potential as a key domestic US rare earth supplier.”
Developing sustainable domestic supply
ARR is developing its 100%-owned magnet metals projects at La Paz in Arizona and Halleck Creek in Wyoming.
Notably, both projects have the potential to be among the largest rare earths deposits in North America.
The company is concurrently evaluating other exploration opportunities while collaborating with US government-supported R&D to develop a sustainable domestic supply chain for the renewable future.