173 0 Kommentare Halleck Creek drilling extends rare earth zone by 50%

Assays show key magnetic rare earths comprise 27% of deposit

PHOENIX, Feb. 03, 2023 (GLOBE NEWSWIRE) -- American Rare Earths (ASX:ARR | OTCQB:ARRNF | FSE:1BHA) announces assay results for 998 samples from 10 reverse circulation (RC) holes at the Halleck Creek Rare Earths projects in Wyoming. The 10 RC holes all reside in the Red Mountain project area at the Halleck Creek district. The assay results confirm enriched rare earth mineralization to a depth of 150 meters and brings the company a step closer to defining a substantial maiden JORC resource.

Highlights

Assays confirm Total Rare Earth Oxide (TREO) values up to 8,359 parts per million (ppm).
Mineralization confirmed at depths of 150 meters, a 50% increase on previous drill assays.
Significant intercepts include:
- HC22-RM014 averages 3,958 ppm TREO over 148.5 meters
- HC22-RM016 averages 3,495 ppm TREO over 148.5 meters
- HC22-RM017 averages 3,922 ppm TREO over 132 meters
- HC22-RM015 averages 4,394 ppm TREO over 120 meters
Mineralization remains open at depth.
Initial assay results from 10 RC holes, twenty-eight more to come.
Low levels of penalty elements thorium and uranium.

ARR awaits the results for 8 additional holes in the Red Mountain project area and 20 holes in the Overton Mountain project area.

CEO and Managing Director Chris Gibbs said that the initial assay results confirm consistent rare earth mineralization from surface to depths of 150 meters, an increase of 50%. “These are outstanding results as previous core drilling had confirmed mineralization to only 100 meters. Just as importantly, mineralization is open at depth. These results further enhance our belief that the Halleck Creek district is one of the largest, rare-earth deposits on a global scale and shaping up to be a key strategic project for the United States.

“We are looking forward to receiving further drill assay results and in addition, updating the market on metallurgical test work also currently in progress.”

Assay Results
Preliminary assay results from 10 RC holes in the Red Mountain project area have an average TREO of 3,491 ppm using a cut-off of 1,500 ppm TREO. Magnetic rare earth oxides (MREO) including the valuable Neodymium and Praseodymium comprise approximately 27% of the rare earths at Red Mountain, Figure 1.