American Rare Earths (ASX:ARR) - CEO & Managing Director, Chris Gibbs
CEO & Managing Director, Chris Gibbs
Source: American Rare Earths
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  • American Rare Earths (ARR) confirms a major rare earths deposit at the Halleck Creek Rare Earths Project in the US state of Wyoming
  • The deposit was confirmed under the company’s maiden drilling program, which was undertaken to follow up previous samples of high-grade rare earth elements
  • Samples are now undergoing lab analysis and, should these match the XRF field assays, ARR will begin drilling towards a maiden resource for Halleck
  • ARR is now in the process of planning further detailed geological mapping and geochemical sampling over the project with work expected to start this month
  • Shares in ARR are up 2.63 per cent on the market and are trading at 39 cents

American Rare Earths (ARR) has confirmed a major rare earths deposit at the Halleck Creek Rare Earths Project in the US state of Wyoming.

The deposit was confirmed under the company’s maiden drilling program, which began in mid-March, to follow up previous samples which returned high-grade rare earth element mineralisation.

A total of 917 metres was drilled and 822 samples were collected from nine holes across the Red Mountain and Overton Mountain zones within the Red Mountain Pluton.

Three of the holes showed the Red Mountain Pluton is relatively homogenous, with the mineralisation extending to a depth of at least 100 metres.

As a result, it is expected the core from these three holes will be rich in rare earth elements (REEs).

Notably, core recovery from the majority of the holes exceeded 99 per cent, and some XRF generated assays were more than triple the previous best samples.

The samples are now undergoing lab analysis. If the lab assays match the XRF field assays, ARR said it will begin drilling towards a maiden resource for Halleck.

“We are extremely excited about what we are seeing at this world class project as it continues to exceed our expectations,” CEO and Managing Director Chris Gibbs said.

“The information from these drill holes will determine the regional extent of mineralised depth following the continued positive surface sample results from the project. Based on the sheer size, scale and grade of this deposit, Halleck Creek has the potential to be one of the largest rare earths projects in the US.”

ARR is now in the process of planning further detailed geological mapping and geochemical sampling over the Halleck Project with work expected to start this month.

Shares in ARR were up 2.63 per cent on the market and were trading at 39 cents at 10:45 am AEST.

ARR by the numbers
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