American Rare Earth announces update to Mineral Resource Estimate at Halleck Creek in Wyoming
Vancouver, Canada
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February 12, 2024 10:04 AM Eastern Standard Time
American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to share a significant milestone for the company.
American Rare Earths Limited has proudly announced the completion of the Technical Report of Exploration for its Halleck Creek Property in Wyoming. This report not only marks a comprehensive assessment of the property's exploration efforts but also includes an updated Resource estimate that showcases a remarkable increase of 64% in in-situ tonnes compared to the maiden resource estimate from September/October 2023.
Swartz elaborated during the interview, detailing the significant growth in resource estimates resulting from the exploration endeavors. The updated estimate now stands at an impressive 2.34 billion tonnes, with 1.81 million tonnes consisting of 27% Magnetic Rare Earth Oxides (“MREO”) at 3,196 ppm Total Rare Earth Oxides (“TREO”) using a 1,000ppm TREO cut-off.Of particular note is the measured and indicated resources, which have seen a staggering 128% increase, totaling 1.42 billion tonnes with a grade of 3,295 ppm TREO using the same 1,000ppm TREO cut-off.
Furthermore, Swartz highlighted the impact of the company's 2023 drilling efforts, which have not only expanded the lateral and vertical resource extents but have also revealed that the deposit remains open at depth and along strike. This suggests the potential for further resource expansion and underscores the significance of ongoing exploration efforts in unlocking the full potential of the Halleck Creek Property.
The completion of the Technical Report of Exploration and the subsequent increase in resource estimates signify a pivotal moment for American Rare Earths Limited, positioning the company for sustained growth and success in the rare earths market.
With a substantial increase in resources and ongoing exploration activities, American Rare Earths Limited is well-positioned to capitalize on the growing demand for rare earth elements and solidify its position as a key player in the industry.
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