Oleblue
8 months ago
American Rare Earths unveils promising Halleck Creek scoping study
Wed, Mar 20, 2024
Melbourne, Victoria --News Direct-- American Rare Earths Ltd
American Rare Earths Ltd (ASX:ARR) CEO Donald Swartz sits down with Proactive’s Jonathan Jackson to highlight the positive outcomes of a scoping study for the Halleck Creek Project in Wyoming, USA. The study confirms the project's viability as a low-cost, scalable and world-class rare earth element (REE) venture, showcasing strong economic potential and a solid foundation for future development.
The independent analysis by Stantec Consulting Services Inc revealed a net present value (NPV) of US$673.9 million at an 8% discount rate and US$505.1 million at a 10% discount rate (pre-tax), with an internal rate of return (IRR) of 22.5%. The project's payback period is estimated at 2.9 years, with a life of mine (LOM) average cost of US$38.38 per kilogram for neodymium-praseodymium (NdPr) equivalent, significantly lower than current global averages.
With a proposed initial mining rate of 3 million tonnes per annum (Mtpa), the Halleck Creek Project is positioned for a scalable expansion, underpinned by a resource base of 540 million tonnes, suggesting a mine life of 180 years at 3 Mtpa. This scalability and the project's strategic design aim to reduce Western dependency on Chinese rare earth supplies, marking a significant step towards diversifying global REE sources.
Oleblue
8 months ago
American Rare Earths’ Scoping Study confirms low-cost, scalable world-class REE project
American Rare Earths
Mon, Mar 18, 2024
DENVER, March 18, 2024 (GLOBE NEWSWIRE) -- American Rare Earths (ASX: ARR | OTCQX: ARRNF and AMRRY) (“ARR” or the “Company”) is pleased to announce the results of the “Halleck Creek Scoping Study Technical Report” (“Study”) compiled by Stantec Consulting Services Inc (Stantec - an independent engineering consulting firm). Located in the major mining hub of Wyoming, USA, the Halleck Creek project provides compelling economics and the ARR board has unanimously recommended the project advance to the next phase of development.
Highlights:
Under our base case 3Mtpa operating scenario, Scoping Study outlines NPV8 of US$673.9 and NPV10 of US$505.1m (pre-tax) at Halleck Creek, equating to an IRR of 22.5% and payback period of 2.9 years with total initial capex of US$456.1m (inc. US$76.0m contingency).
LOM average Cost (USD/kg NdPr Equivalent) = $38.38/kg, which is favorable when compared to the most recently reported US$50/kg cash cost of NdPr by China Northern Rare Earths1 – the world’s largest integrated producer. A full breakdown of operating costs by product is illustrated in the Project Metrics table below.
Low operating costs are attributable to favorable geology and mining economics, coupled with the beneficiation and concentration circuit (Density Separation and Wet High Intensity and Magnetic Separation (WHIMS), which provides a 10X upgrade in grade) along with good recovery/extraction via direct leaching, without the need for cracking. The recoveries are illustrated in the Project Metrics table below.
The Study is based on an initial phase of 3.0 Million tonnes per annum (Mtpa) of mining to create a low capital cost for market entry and financing. A 6 Mtpa economic case was also prepared to illustrate future potential.
The project had previously evaluated mining cases of 15, 10, 7 and 5 Mtpa before settling on this 3Mtpa mining case; making the project uniquely scalable over time, given the vast resource base (540 Mt total that were modeled in scoping exercise to identify grade for mine sequencing: 180 years at 3Mtpa and 90 years at 6Mtpa).
The Study was designed to include separation of individual rare earth products in Wyoming, avoiding sending a concentrate overseas and includes all capital costs to separate products (sorted by revenue % attributable). The products include the heavy rare earths Terbium and Dysprosium as separated products, contributing 30% of revenue:
66%: Neodymium (Nd)/Praseodymium (Pr) Oxide also referred to as “Didy”
16%: Dysprosium Oxide (Dy)
14%: Terbium Oxide (Tb)
2%: Samarium (Sm), Europium (Eu), Gadolinium (Gd) “SEG” concentrate
2% : Lanthanum (La) Carbonate
The mine plan averaged an in-situ grade of 3,805 ppm TREO, the entirety of the cash flow presented (20+ years) is limited to approximately 400 acres on Wyoming state lands, which provides a very compact footprint. The planned design allows future optionality and enhances project economics by accelerating permitting and leveraging established infrastructure in later stages.
Late in 2023 the US Treasury Department released a proposed rule for the Advanced Manufacturing Production Tax Credit, part of the Inflation Reduction Act (IRA), better known as 45X. This production tax credit, equal to 10 percent of the costs incurred by the producing taxpayer, seeks to incentivise the domestic production of, among other things, critical minerals, including rare earths. The Study has applied this 10 percent tax credit to costs incurred during the project’s production process, with certain exclusions as detailed in the full report.
A long-term price of US$91/kg of NdPr was used based on consensus estimates from leading investment banks along with those for Tb and Dy. Various sensitivity analyses are provided in this summary.
https://finance.yahoo.com/news/american-rare-earths-scoping-study-113200194.html
Oleblue
8 months ago
American Rare Earths helps advancement at Halleck Creek with 13.5 million dollar private placement
Wed, Feb 28, 2024
American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to share significant news regarding the company's recent fundraising efforts. American Rare Earths has successfully secured firm commitments for a placement to raise 13.5 million Australian dollars.
This placement received strong support from both new and existing institutional, professional, and sophisticated investors, both domestically and offshore. The purpose of this capital raise is to further develop environmentally friendly and cost-effective extraction and processing methods.
These methods are crucial to meeting the rapidly increasing demand for resources essential to the clean energy transition and US national security. Swartz emphasized that this funding provides the company with the necessary capital to advance its flagship project, Halleck Creek, towards delivering a secure supply of critical minerals to the North American supply chain.
American Rare Earths remains dedicated to achieving its project development milestones with the support of its shareholders. The funds raised will support various activities related to the development of the Halleck Creek Rare Earths Project in Wyoming.
These activities include mineral resource and extensional drilling, pre-feasibility studies, metallurgical test work and process development, as well as heritage, permitting, and environmental activities.
Overall, this successful capital raise positions American Rare Earths to continue its progress towards becoming a key player in the critical minerals sector, contributing to both environmental sustainability and national security objectives.
Contact Details
Proactive USA
+1 347-449-0879
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/american-rare-earths-helps-advancement-at-halleck-creek-with-13-5-million-dollar-private-placement-524973282
https://finance.yahoo.com/news/american-rare-earths-helps-advancement-122506231.html
Oleblue
9 months ago
American Rare Earth announces update to Mineral Resource Estimate at Halleck Creek in Wyoming
Mon, Feb 12, 2024
American Rare Earths Limited has proudly announced the completion of the Technical Report of Exploration for its Halleck Creek Property in Wyoming. This report not only marks a comprehensive assessment of the property's exploration efforts but also includes an updated Resource estimate that showcases a remarkable increase of 64% in in-situ tonnes compared to the maiden resource estimate from September/October 2023.
Swartz elaborated during the interview, detailing the significant growth in resource estimates resulting from the exploration endeavors. The updated estimate now stands at an impressive 2.34 billion tonnes, with 1.81 million tonnes consisting of 27% Magnetic Rare Earth Oxides (“MREO”) at 3,196 ppm Total Rare Earth Oxides (“TREO”) using a 1,000ppm TREO cut-off.Of particular note is the measured and indicated resources, which have seen a staggering 128% increase, totaling 1.42 billion tonnes with a grade of 3,295 ppm TREO using the same 1,000ppm TREO cut-off.
Furthermore, Swartz highlighted the impact of the company's 2023 drilling efforts, which have not only expanded the lateral and vertical resource extents but have also revealed that the deposit remains open at depth and along strike. This suggests the potential for further resource expansion and underscores the significance of ongoing exploration efforts in unlocking the full potential of the Halleck Creek Property.
The completion of the Technical Report of Exploration and the subsequent increase in resource estimates signify a pivotal moment for American Rare Earths Limited, positioning the company for sustained growth and success in the rare earths market.
With a substantial increase in resources and ongoing exploration activities, American Rare Earths Limited is well-positioned to capitalize on the growing demand for rare earth elements and solidify its position as a key player in the industry.
Contact Details
Proactive USA
+1 347-449-0879
na-editorial@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/american-rare-earth-announces-update-to-mineral-resource-estimate-at-halleck-creek-in-wyoming-283534612
With the news, it brought more investor interest in the stock. Watch for a pull back.
Weekly Chart
Oleblue
9 months ago
Rare Earths Discovery Near Wheatland So Big It Could Be World Leader
American Rare Earths Inc. disclosed in a technical report on Wednesday that it found 64% more rare earth minerals than it had originally envisioned. “This exceeded our wildest dreams,” CEO Donald Swartz told Cowboy State Daily.
Pat Maio
February 07, 2024
There’s a modern-day gold rush happening in the attempt to dig green-energy rare earth minerals out of the ground. Some believe Wyoming could be America’s answer to China’s lock on the market.
And one of a handful of Wyoming companies in the rush may have hit the mother lode.
American Rare Earths Inc. has its sights on thousands of acres of land near Wheatland, Wyoming. The company disclosed in a technical report on Wednesday that it found 64% more rare earth minerals than it had originally envisioned in a March 2023 assessment of the land.
The newly disclosed figure of 2.34 billion metric tons of rare earth minerals found southwest of Wheatland by American Rare Earths Inc. could dwarf in size the 1.2 million metric ton estimates in northeastern Wyoming that one of its competitors claimed was one of the biggest discoveries in the world.
A metric ton equals about 2,200 pounds while a ton is 2,000 pounds.
“This exceeded our wildest dreams, and we only drilled on about 25% of the property,” said Donald Swartz, CEO of American Rare Earths.
The company is the U.S.-based unit of an Australian-founded exploration company working in Wyoming.
"Enormous Potential"
“These results are illustrative of the enormous potential of the project,” Swartz told Cowboy State Daily. “Typically, you’ll see the resource decrease as infill drilling takes place – instead we’re seeing the opposite, with only 25% of the project being drilled to this point.”
The rare earth minerals bonanza is the result of consumers starved for magnet metals integral to the green transition to electric vehicles, wind turbines, consumer goods, robots and military drones, missiles and chips needed for sophisticated computing power.
American Rare Earths wants to mine and process these metals – particularly neodymium and praseodymium – through its Wyoming Rare (USA) Inc. unit.
That business controls 367 mining claims on 6,320 acres of a mix of state, federal and private land across the Halleck Creek Project area near Wheatland, and four Wyoming mineral leases on 1,844 acres on the same project — which was renamed recently as the Cowboy State Mine, according to Swartz.
Market Not Ready
With worldwide rare earth mineral demand standing at about 60,000 tons annually, Swartz said that his company could move to establish a mining operation on 320 acres of state land where permitting would happen at a faster clip than on federally owned land. The fact that the demand is high does not enable the company to move faster on federal land.
“If you build a really big mine, can the market take all of that material?” said Swartz.
He is doubtful that the market is ready for this kind of volume.
“We’re trying to make something that’s modular and scalable, that can grow in the market over time,” he said.
Jackpot Underground
In the next month, the company plans to release pencilled out cost estimates and other economic projections on development at the Halleck site in the Overton Mountain area, plus the value of the minerals that could potentially be mined over the next 30 years.
For sure, the company sees a jackpot underground.
The drilling conducted by American Rare Earths in the fall went to a depth of 1,000-feet, roughly twice as deep as last March’s maiden dig.
The latest drilling revealed that the ore is more extensive and of higher quality, making it potentially even more valuable than anything else in the state, Swartz explained.
American Rare Earths also has a rare earths minerals site at its La Paz project in Arizona but doesn’t see the same prospects as its Wyoming digs.
Others In Wyoming
American Rare Earth isn’t the only player in Wyoming.
In early 2023, Ramaco Resources announced it had found a deposit of rare earths on a 16,000-acre coal mine near Sheridan, Wyoming, that could be worth upward of $37 billion, according to an estimate calculated by the Wall Street Journal.
Swartz tossed cold water on the Ramaco estimate.
“Our resources is on an order of magnitude larger than the Ramaco Resources number,” he said. “If you did the same thing for it, you’d come up with a lot bigger number, but that doesn’t take into account whether you can [mine and process] more economically, or even do it.”
We're Number One
Mining.com has ranked the Halleck Creek rare earths find as the fifth largest in the world outside of others discovered in Greenland, Canada and Kenya – and that’s before American Rare Earths released its latest technical data.
“We’ll move up to No. 1 of what could be mined,” said Swartz of hopes for the next ranking from the site.
In another instance of the rush to mine rare earth minerals in the state, Rare Element Resources Ltd., a Canadian exploration company, is setting up shop on a large rare earth deposit in Upton, Wyoming, with a novel new mining process that promises to speed up rare earth processing. This is called the Bear Lodge Project.
The Wyoming unit of Rare Element Resources, which controls 100% of the Bear Lodge mineral rights held through federal mining claims in Upton, is betting $44 million that its mining process is a game-changer for U.S. rare earth production.
Pat Maio can be reached at: Pat@CowboyStateDaily.com
Pat Maio can be reached at pat@cowboystatedaily.com.
chico237
1 year ago
1.43 BILLION TONNES ~HUGE! LARGEST U.S. Rare EARTH RESOURCE POTENTIAL June 2, 2023 ~American Rare Earths Reports Positive Metallurgical Test Results~
https://www.investorsobserver.com/news/qm-pr/7786960789984847
PHOENIX, June 02, 2023 (GLOBE NEWSWIRE) -- American Rare Earths ( ASX: ARR | OTCQB: ARRNF | FSE:1BHA ) ( ARR or the Company ) is pleased to report on the latest in a series of metallurgical tests on ore from its Halleck Creek project in Wyoming. With a JORC Resource of 1.43 billion tonnes the Halleck Creek project is potentially the largest rare earth project in the United States. The metallurgy test work continues to pave the way for low-cost processing using conventional technology.
Highlights
The latest test work supports previous results showing a simple process flow sheet to produce a rare earth concentrate and maximize the recovery of magnet metals Neodymium and Praseodymium (NdPr).
Bulk rougher/scavenger (primary) Wet High Intensity Magnetic Separation (WHIMS) produced 72% recovery and rejected 77% of feed mass, an upgrade ratio of 3.1.
Further testing will commence in the coming weeks to generate the final concentrate for refinery testing.
Current internal studies focus on annualized ore processing rates of 10, 15 and 20 million tonnes per annum feed rate to the concentrator to establish optimal project economics.
This equates to a modelled production of 3,800 tonnes, 5,700 tonnes and 7,600 tonnes, respectively of the highly valuable NdPr oxides contained in Mixed Rare Earth Carbonate (MREC) as a saleable product to be processed within the USA.
Recent tests rejected a highly encouraging 77% of waste material in the early processing stages prior to the flotation circuit, demonstrating potential opportunities to reduce the project's operating and capital costs. This is a 5% improvement from preliminary test work results announced in December 2022. These promising results are further enhanced by the low levels of penalty elements thorium and uranium, which remain well below regulatory standards.
CEO and Managing Director, Mr. Chris Gibbs, commented:
“Rare earth projects typically have complex metallurgy. Under the technical leadership of Wood PLC, these outstanding test results provide confidence for a simple process flow sheet. Halleck Creek ore continues to pass all the key tests from a processing perspective: good recovery using conventional processing methods, low radioactive penalty elements and the ability to produce a mixed rare earth concentrate product.”
“In short, Halleck Creek has the right rare earths (NdPr) and low penalty elements. This means a valuable product, simple metallurgy, and lower costs. Most importantly, the project is in the heart of the USA, the largest economy in the world.”
“As an exploration company I’m also excited to advance our exploration activities at Halleck Creek. to support the economic and feasibility studies currently underway.”
“With less than 25% of the area drilled, the deposit remains open at depth and with significant upside potential. To further enhance the project economics, we are keen to test the depth of the deposit, seek to upgrade resources and explore potential higher-grade zones within the project footprint.”
This market announcement has been authorized for release to the market by the Board of American Rare Earths Limited.
Mr. Chris Gibbs
CEO & Managing Director
https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02649178-2A1440486?access_token=83ff96335c2d45a094df02a206a39ff4
chico237
2 years ago
MARCH 20, 2023- Mel Sanderson of American Rare Earths Discusses Two US Rare Earths Projects Accelerating Forward
https://investorintel.com/critical-minerals-rare-earths/mel-sanderson-of-american-rare-earths-discusses-two-us-rare-earths-projects-accelerating-forward/#:~:text=March%2020%2C%202023%20Critical%20Metals%20PLC%3A%20Exercise%20of,10%20square%20kilometres%20to%20depths%20of%20150%20metres
In this InvestorIntel interview during PDAC 2023, Byron W King talks with American Rare Earths Limited’s (ASX: ARR | OTCQB: ARRNF) President of North America Melissa ‘Mel’ Sanderson about developing two large rare earth deposits in North America. Discussing how key magnetic rare earths such as neodymium and praseodymium comprise 27% of the deposit at their Halleck Creek Rare Earths project in Wyoming, Mel provides an update on their recent high-grade assay results from the project, with a NI 43-101 resource planned to be released by the end of March or early April and a PEA by the end of the year.
Mel goes on to discuss the upside potential at American Rare Earths’ scandium-rich La Paz rare earths deposit in Arizona where they already have a 170.6 million tonnes JORC compliant resource and are planning to grow the resource through additional drilling. Providing an update on their US Government funded R&D partnerships with the Lawrence Livermore National Laboratory and other university research partners, Mel discusses how American Rare Earths is leading the way to cleaner, greener processing and separation technologies for rare earths.
To access the full InvestorIntel interview, click here.
A MARKET COMPLIANT MINERAL RESOURCE REPORT ~JORC/ NI 43-101 by the end of March or early April and a PEA by the end of the year.
Form your own Opinions & Conclusions
HALLECK CREEK IS NOW THE PRIMIER DEPOST!!!!! LA PAZ IS RUNNING SECOND WOW!!! "LOOK OUT MP MATERIALS!!!"
THIS IS HUGE DEPOSIT OF (Allanite) MONAZITE- & HUGE SCANDIUM & RARE EARTH MINERAL GRADES SHOWING !
It might be 7 years out but put this on your watch list!!!!!! I am buying here & finally taking a position!
Chico
chico237
2 years ago
ARRNF's HALLECK CREEK Wyoming Mine could be continent's largest, rare earths developer says
https://trib.com/news/state-and-regional/fledgling-wyoming-mine-could-be-continents-largest-rare-earths-developer-says/article_33a398da-c4fc-11ed-86ab-8f0bf2ae9a84.html
The company digging for critical minerals in southeastern Wyoming is becoming more and more confident that it’s found the biggest known deposit of rare earth elements in North America.
American Rare Earths’ mining claims, north of Laramie, started out promising. Since the Australian developer started drilling last year to figure out just how far the rare earths extended, the scope of its find has ballooned.
Its latest round of drilling — further exploration of a fraction of the deposit — revealed that the most in-demand of the 17 rare earth elements are prevalent across an area of roughly four square miles and to depths of nearly 500 feet, the company announced Friday. The findings provide “quantifiable and verifiable evidence that what we have suspected is true,” said Mel Sanderson, American Rare Earths’ president of North America.
“We’re excited, not just because of the size, but because other key variables are falling into place. … We are going to be able to consistently recover high-quality material as deep down as we go,” Sanderson said.
And, she noted, geologists working on the drilling campaign suspect parts of the deposit descend even deeper. Maybe even twice as far.
Rare earths are ubiquitous. They’re common in the Earth’s crust, and in the array of technologies humans rely on every day. What’s unusual is finding a deposit that’s big enough, and concentrated enough, to mine.
(Ranie Lynds of the Wyoming State Geological Survey said in an email to the Star-Tribune that the agency is aware of elevated levels of some rare earths in the area, but that it has “no independent way of confirming” the company’s announcement.)
American Rare Earths believes that when it comes to jobs, property taxes and sales taxes (though not severance taxes or royalties — at least for the time being), its project could “potentially step into the void that is being left by the decline of some of our big coal industry producers,” Sanderson said.
“It excites me for Wyoming on a lot of levels,” she said. “On the entire state level, keeping our positioning in terms of an important energy supplier, but also creating jobs that will keep folks well-employed and keep them at home.”
Initially, American Rare Earths figured a mine at its Halleck Creek site might be able to stay open for 20 or 25 years. Now it’s looking at double that — based, Sanderson said, on what the company has been able to confirm so far. Meaning there’s still a possibility that the lifetime of the potential mine could stretch even longer.
Commercial operations, though, are still a long way off. The company hopes to initiate the permitting process next year. According to Sanderson, under existing laws and regulations, the earliest it could start mining would be in 2029 or 2030, assuming everything goes smoothly along the way.
American Rare Earths also aims to open a processing plant for its ore somewhere in Wyoming. Ideally, Sanderson said, that plant will involve brand-new, less environmentally damaging methods that are still being developed (and kept largely under wraps) by researchers.
And the company will continue studying the extent of the deposit, and refining its vision for the future of the mine, along the way. It’s more optimistic than ever about what it’ll find.
“All mining is a gamble,” Sanderson said. “You have to keep putting money in and keep having faith that your guesses are right. And to reach the point where we have this substantiation that our guesses have been right — it’s hard to describe how huge that is and how exciting it is.”
Form your own Opinions & Conclusions above!
IMHO- THIS IS HUGE!!! THIS IS A MONAZITE ORE DEPOSIT (With many of the high value REE's including SCANDIUM!) ALL WITHIN A 4 MILE x 500ft. DEEP RANGE. ~ ALL OPEN PIT MINABLE~, LOW TO NONE RADIO-ACTIVES. 7-10 YEARS AWAY. IN A MINE FRIENDLY STATE WYOMING! ARRNF is already working & collaborating with the U.S. Govt. & AMES LAB. They have Cash & Have an established proven management team both in the U.S. & Australia. For Declaration I will be finally starting a position next week!
Chico
chico237
2 years ago
Melissa Sanderson of American Rare Earths Provides an Update on its Projects in Arizona and Wyoming
https://investorintel.com/critical-minerals-rare-earths/mel-sanderson-of-american-rare-earths-provides-an-update-on-its-projects-in-arizona-and-wyoming/
InvestorIntel
March 10, 2023
In this InvestorIntel interview, Jack Lifton talks to American Rare Earths Limited’s (ASX: ARR | OTCQB: ARRNF) President North America Melissa ‘Mel’ Sanderson about it portfolio of rare earths assets in the United States, including Arizona, Nevada, and Wyoming, and the fact that it is well funded with $15 million in the bank. Providing an update on their scandium-rich La Paz rare earths deposit in Arizona, Mel also discusses American Rare Earths’ recent high-grade assay results from the Halleck Creek Rare Earths project in Wyoming.
Speaking about the exceptionally low uranium and thorium content at both of their projects, Mel goes on to discuss American Rare Earths’ US Government funded R&D partnerships including with the Lawrence Livermore National Laboratory, Ames National Laboratory, Arizona State, and Penn State University. As the only rare earths junior explorer focused on biomining, Mel explains how American Rare Earths is helping in developing “cleaner, greener processing and separation technologies for rare Earths.
Form your own opinions & conclusions above:
ARRNF- worth keeping on your radar imho...
Chico
chico237
2 years ago
American Rare Earths (ASX:ARR) discovers potential new rare earth deposit, Wyoming
https://themarketherald.com.au/american-rare-earths-asxarr-discovers-potential-new-rare-earth-deposit-wyoming-2023-01-31/
https://cdn.jwplayer.com/previews/AinRva6A
American Rare Earths (ARR) discovers a potential new rare earth deposit in the Halleck Creek Earth District in Wyoming
The company has staked 118 new mining claims at the new County Line prospect, which covers the new rare earth mineralisation
The new zone will expand the company’s total claims in the region by 26 per cent
ARR plans to complete geological mapping and surface sampling across the Country Line, Trail Creek and Sommers Flat areas over the next few months
Shares in American Rare Earths are up 2 per cent to 25.5 cents at 11:47 am AEDT
American Rare Earths (ARR) has discovered a potential new rare earth deposit, adding to the growing Halleck Creek Earth District in Wyoming.
The company has filed 118 unpatented federal lode mining claims at the new County Line prospect area, which covers the new rare earth mineralisation.
It will add around 2113 acres to the expanding district, bringing the total area controlled to 8165 acres.
The new zone will expand the company’s total claims in the region by 26 per cent, and it’s 147 per cent larger than the current 1.01-to-1.27 billion exploration target announced on September 1, 2022.
American Rare Earths President of North America operations Melissa Sanderson said it was a significant discovery not only for the company but also the State of Wyoming and the nation.
“This is a key strategic project for our country and could help fulfil most of the future demand for these highly valuable magnetic rare earth materials, which are so important for national security and ensuring 100 per cent of the supply chain remains within the United States,” she said.
The County Line prospect adds to a growing portfolio of rare earth prospects within the region. Since acquiring the District in 2021, the company now has seven project areas across Halleck Creek.
Ms Sanderson also said the district was environmentally friendly.
“What also makes Halleck Creek unique is the extremely low thorium and uranium penalty elements so often associated with rare earth projects,” she added.
“This means less harmful chemicals during processing and not having to dispose of radioactive waste.”
“As we seek to decarbonise the planet, we need rare earths for our future energy needs, electric vehicles, wind turbines and everyday living.
American Rare Earths has now shifted its focus towards exploration efforts which are planned for early spring when the snow clears.
The company’s immediate focus is to establish a significant JORC resource over drilling at the Overton and Red Mountain areas. ARR geologists plan to begin wide geological mapping and surface sampling across the County Line area, the Trail Creek area, and the Sommers Flat areas during the end of Q1 and early Q2.
ARR said the mapping and sampling will provide the direction for the long-term development of the Halleck Creek Rare Earths district.
Shares in American Rare Earths were up 2 per cent to 25.5 cents at 11:47 am AEDT.
chico
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