- American Rare Earths (ARR) discovers a new significant rare earth deposit in Wyoming, USA
- The company has applied for more acreage further north of its Halleck Creek project area with similar geological characteristics
- While full assays are pending, grab samples show the presence of at least three high-value rare earths including magnetic rare earths neodymium and praseodymium
- ARR shares are down 2.94 per cent, trading at 16.5 cents at 2:43 pm AEST
American Rare Earths (ARR) has discovered a new significant rare earth deposit in Wyoming, USA.
Grades between 1.7 per cent and up to an eye-catching 9.1 per cent were detected, including rare earths: lanthanum, cerium, yttrium, neodymium and praseodymium.
The company lodged 37 federal unpatented lode claims with relevant authorities covering just in excess of 300 hectares.
According to historical data sniffing around the same area, ARR geotechs are confident they could be straddling a rare earth deposit with a mineralised outcrop that extends for nearly half a kilometre at 1500 feet.
Additional applications have been made with the state of Wyoming for an additional 259 hectares north of the company’s flagship Halleck Creek project with geological particulars largely replicating that at Halleck.
“These are outstanding results from the initial field work and the exploration team we have on the ground in the United States … XRF samples show grades up to 91,438 ppm for 5 rare earth elements which includes the highly valuable neodymium, praseodymium and yttrium,” ARR CEO Chris Gibbs said.
“The [additional] newly staked claims are within the same state as our flagship Halleck Creek project, which already has a JORC Resource of 1.43 billion tonnes … we’re very excited about the future synergies and opportunities between both projects and we look forward to conducting further exploration.”
ARR shares were down 2.94 per cent, trading at 16.5 cents at 2:43 pm AEST.