American Rare Earths Ltd (ARRNF)

[chico237]

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/
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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