Home Market News Mining Exploring the Depths: American Rare Earths Funds Halleck Creek Venture with $8.7 Million Infusion

Exploring the Depths: American Rare Earths Funds Halleck Creek Venture with $8.7 Million Infusion

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Exploring the Depths: American Rare Earths Funds Halleck Creek Venture with $8.7 Million Infusion

Updated Mineral Resource Estimate

American Rare Earths recently unveiled the latest mineral resource estimate for its Halleck Creek project in Wyoming. The figures showcase a substantial 64% increase in the in-situ tonnage, compared to the previous assessment conducted last autumn.

Impressive Increase in TREO

The updated resource estimate reveals a total of 2.34 billion tonnes of material, with a grading of 3,196 parts per million (ppm) total rare earth oxides (TREO), including neodymium (Nd) and praseodymium (Pr) oxides. This translates to 7.48 million tonnes of contained TREO, marking a significant upsurge. Among the estimated amount, 1.42 billion tonnes fall under the measured and indicated category, reflecting a remarkable 128% growth from the 2023 estimate, boasting a grade of 3,295 ppm TREO.

Driven by Exploration Success

The latest mineral resource update is a culmination of the September-October 2023 exploration program at Halleck Creek. Additional surface sampling and geological mapping also played a pivotal role in the enhanced estimates. The company’s relentless efforts from April 2022 to October 2023 are evidenced by the drilling of 70 holes spanning a total of 9,031 meters.

Future Endeavors and Strategic Focus

American Rare Earths has articulated its strategic roadmap, emphasizing extensional drilling, pre-feasibility studies, metallurgical test work, and process development. Additionally, the company is dedicated to heritage preservation, permitting procedures, and environmental initiatives as part of its long-term vision.