Notable Drilling Accomplishments at Cowboy State Mine
Key Highlights
- Successfully completed 11 HQ core holes, reaching a total depth of 1,585 meters (5,309 feet).
- Drilled 12 Reverse Circulation (RC) holes, accumulating an overall length of 1,031 meters (3,381 feet).
- Two core holes, extending to 300 meters, have shown indications of rare earth mineralization, suggesting that the deposit is still open at greater depths.
- Samples have been collected, documented, and dispatched to ALS Global for further analysis, with results expected soon.
- The findings from this drilling project will enhance geological models, update resource estimates, and play a crucial role in the upcoming Prefeasibility Study (PFS).
Drilling Campaign Overview
American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY), often referred to as “ARR” or the “Company,” is thrilled to announce the completion of its 2024 drilling operations at the Cowboy State Mine (CSM) area. This program featured 12 RC holes and 11 HQ core holes, totaling approximately 2,616 meters (8,581 feet) drilled. During this comprehensive campaign, 689 RC samples and 659 core samples were collected for laboratory testing.
Insights from the Drill Program
The lithologic logs obtained from the drilling provide valuable insights, indicating the presence of the Red Mountain Pluton (RMP) at the base of each core hole. While the exact assays will determine the grades of rare earth elements (REE), these initial findings are encouraging. CEO Chris Gibbs commented, “The team at Wyoming Rare (USA) (WRI) continues to demonstrate the significant potential of this prime deposit within the Cowboy State Mine area of the Halleck Creek District. The drilling was completed ahead of schedule, and we are eagerly awaiting the upcoming assay results.”
Plans for the Future
Gibbs highlighted the substantial potential for mineralization, which has been traced to depths of at least 302 meters. The primary objective of WRI is to further develop the Cowboy State Mine, which is part of the Halleck Creek Wyoming State Tenements. The results from this recent drilling campaign will be vital for refining geological models, updating resource estimates, and serving as essential components for the forthcoming Prefeasibility Study (PFS).
Company Overview and Commitment
This announcement has been authorized for release by Kevin Kinnes, the CEO of American Rare Earths. The company is dedicated to advancing the Halleck Creek Project in Wyoming and also possesses the La Paz rare earth deposit in Arizona. Both locations have the potential to become leading sustainable rare earth projects in North America. American Rare Earths is committed to developing environmentally responsible and cost-effective extraction and processing methods to meet the increasing demand for resources that are crucial for 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.
