American Rare Earths Updates on Cowboy State Mine Drilling Progress
Significant Drilling Achievements at Cowboy State Mine
Highlights
- Completion of 11 HQ core holes totaling 1,585 meters (5,309 feet).
- Successful drilling of 12 Reverse Circulation (RC) holes with an aggregate length of 1,031 meters (3,381 feet).
- Two core holes drilled to a depth of 300 meters showing signs of rare earth mineralization, indicating the deposit remains open at depth.
- Samples have been collected, logged, and sent to ALS Global for further processing, with results anticipated shortly.
- The outcomes of this drilling initiative will enhance geological models, update resource estimates, and contribute to the forthcoming Prefeasibility Study (PFS).
Overview of the Drilling Campaign
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY), referring to itself as “ARR” or the “Company”, is excited to declare the completion of its 2024 drilling operations at the Cowboy State Mine (CSM) area. The program comprised a total of 12 RC holes, contributing to an overall length of 1,031 meters (3,381 feet), and 11 HQ core holes, which totaled 1,585 meters (5,309 feet). In total, approximately 2,616 meters (8,581 feet) were drilled during this intensive campaign, with 689 RC samples and 659 core samples collected for laboratory analysis.
Drill Program Insights
The lithologic logs from the drilling provide important insights, revealing the presence of the Red Mountain Pluton (RMP) at the base of each core hole. While precise assays will define the rare earth element (REE) grades, these preliminary findings are promising. CEO Chris Gibbs stated, “The team at Wyoming Rare (USA) (WRI) continues to showcase the substantial potential of this premier deposit within the Cowboy State Mine area of the Halleck Creek District. The drilling was executed ahead of schedule, and we eagerly anticipate the upcoming assay results.”
Strategic Future Plans
Gibbs remarked on the considerable upside with mineralization traced to depths of at least 302 meters. The primary aim of WRI is to advance the Cowboy State Mine, which is part of the Halleck Creek Wyoming State Tenements. This recent drilling campaign's outcomes will be critical in refining geological models, resource estimations, and as essential components for the impending Prefeasibility Study (PFS).
Company Information and Commitment
This announcement has been approved for release by Kevin Kinnes, the CEO of American Rare Earths. The company is focused on developing the Halleck Creek Project in Wyoming and also owns the La Paz rare earth deposit in Arizona. Both sites have the potential to emerge as leading sustainable rare earth projects in North America. American Rare Earths is advancing environmentally responsible and cost-effective extraction and processing techniques to address the rising demand for resources crucial to the clean energy transition and U.S. national security.
Contact Information
Susan Assadi
Media Relations US
sassadi@americanree.com
347 977 7125
Beverly Jedynak
Investor Relations US
Beverly.jedynak@viriathus.com
312 943 1123
Frequently Asked Questions
1. What are the key highlights of the 2024 drilling campaign?
The campaign included 11 HQ core holes and 12 RC holes, totaling 2,616 meters drilled. Assay results are anticipated shortly.
2. What potential does the Cowboy State Mine have?
There are indications of significant rare earth mineralization, with mineralization observed at depths exceeding 302 meters.
3. Who is responsible for the drilling program?
The drilling initiative is managed by Wyoming Rare (USA) (WRI), which is a subsidiary of American Rare Earths.
4. How will the results of the drilling impact future studies?
The results will inform updates to geological models, resource estimates, and contribute to the Prefeasibility Study.
5. What are the company's goals regarding sustainable practices?
American Rare Earths aims to develop sustainable extraction processes to meet the growing demand for rare earth elements, contributing to clean energy initiatives.
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