American Rare Earths reported drilling results from its subsidiary Wyoming Rare (USA), at the Cowboy State Mine area, including an intercept of 299.1m grading 4,393 ppm total rare earth oxide from surface to depth of 300m.
ALS Global provided the assay results for 756 samples from the first eleven core and reverse circulation holes.
Results include hole HC24-RM035 with a length of 299.1m averaging 4,393 ppm TREO, and HC24-RM023, presenting 117.5m at 4,006 ppm TREO.
The company's geologists prepared 54 core samples for further geomechanical analysis.
Assay data will contribute to updating geological models and resource estimates, valuable inputs for the upcoming prefeasibility study.
Structural observations confirm the deposit remains open at depth and extends into Red Mountain.
CEO Chris Gibbs remarked, "These first assay results continue to demonstrate the upside potential of the Halleck Creek district. The sheer size and scale of the deposit continue to grow, confirming the deposit remaining open from surface to depths of at least 300m."
The CSM drilling campaign is pivotal for advancing the project.
"These drill holes allow us to expand our resource estimates into Red Mountain in the CSM area. With a pathway to State permitting and recent Government funding, the CSM area represents a unique opportunity to rapidly advance the Project," mentioned Gibbs.
Further assays are awaited to complete the updated geological models and resource estimates, which will be essential for detailed mine planning in the upcoming PFS.
American Rare Earths is a mineral exploration company. It owns the Halleck Creek and La Paz rare earth deposits.
Its flagship project is Halleck Creek, located in the Central Laramie Mountains, approximately 70km northeast of Laramie, and 30km southwest of Wheatland, Wyoming and covers over 3304 hectares.
At the time of reporting, American Rare Earths’ share price was $0.26.