AMERICAN RARE ERTHS S/ADR - AMRRY STOCK NEWS

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) has commenced its 2024 drilling campaign at the Cowboy State Mine (CSM) area. The program includes 23 holes (11 core and 12 reverse circulation) for a total of 2,670 meters. This in-fill drilling aims to upgrade resource estimates, provide data for pit design, environmental studies, and collect samples for metallurgical testing.

The campaign, partnering with FTE Drilling, is expected to last 6-8 weeks. Key objectives include upgrading resources to measured and indicated status, expanding resources at depth and to the west, and collecting samples for various tests. The data will be used to update geological resource models for prefeasibility studies of the CSM area.

American Rare Earths has been awarded A$10.7 million (US$7.1 million) in non-dilutive funding from the State of Wyoming to advance its Cowboy State Mine at Halleck Creek. The three-year grant, part of a Matching Funds arrangement, will cover further exploration, environmental studies, pilot plant processing, prefeasibility studies, and community impact assessments. This funding highlights the potential of the Cowboy State Mine and reinforces Wyoming's commitment to supporting energy and mining projects. The grant is seen as a validation of the company's direction and aims to expedite project development.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) announced an update on their Halleck Creek Project, focusing on upcoming exploration and R&D milestones.

A drilling program of 2,470 meters will start in July 2024 in the Cowboy State Mine area to enhance resource estimates. The project also received $4.6 million in DARPA funding for continued R&D, with Lawrence Livermore National Laboratory involved in flowsheet design.

Baseline environmental data collection has begun, and advanced separation and concentration testwork are ongoing. SGS Canada will conduct detailed leach testing, expected to commence in Q3 2024.

CEO Donald Swartz emphasized the project's progress in de-risking and advancing studies for FY2025.

American Rare Earths (ARR) has announced the potential for zircon co-product at its Halleck Creek project. Zircon is important for industries like ceramics, electronics, and nuclear energy. Initial assay results show a significant zirconium upgrade, with a density of 2,077 ppm compared to an average crustal abundance of 300 ppm. Spiral testing within the REEs program achieved a 13.7x upgrade, indicating ~2.3% zirconium concentration. The company collaborates with the University of Wyoming and has found zircon more prevalent than expected. Ongoing beneficiation work includes gravity separation and magnetic removal to further concentrate zirconium. Future exploration aims to separate zirconium concentrate and extract heavy REEs.

American Rare Earths (OTCQX: ARRNF) is set to benefit from new U.S. tariff policies aimed at critical minerals and technology sectors. The U.S. Trade Representative's announcement includes stricter import measures, especially from China, likely boosting demand for domestic critical minerals. American Rare Earths' key projects at Halleck Creek in Wyoming and La Paz in Arizona position the company strongly, given these are among North America's largest rare earth deposits. These minerals are vital for clean energy technologies like electric vehicles and renewable energy. CEO Donald Swartz noted the alignment of these tariffs with the company’s strategy, enhancing their ongoing projects and market position.

American Rare Earths (ARR) has announced positive results from a metallurgical study on leaching extraction of Rare Earth Elements (REE) from the Halleck Creek ore. Two independent studies highlighted the economic potential of Halleck Creek, showcasing high REE extraction rates and low operating costs. The collaboration with the U.S. Department of Energy and Virginia Tech further validates the project's viability.

American Rare Earths (ARRNF) announces assay results revealing potential for a larger, higher grade REE resource area in the Cowboy State mine. Surface samples show up to 6,221 ppm TREO, a 64% increase to mine planning, with high value magnetic rare earths (MREO) averaging 27% of TREO. The mapping and sampling will aid in future higher-grade resource drilling.

American Rare Earths announces positive results of the Halleck Creek Scoping Study Technical Report, showcasing compelling economics and scalability in the major mining hub of Wyoming, USA. The study outlines an NPV8 of US$673.9m and NPV10 of US$505.1m, with an IRR of 22.5% and payback period of 2.9 years under a base case 3Mtpa operating scenario. Low operating costs, favorable geology, and efficient processing methods contribute to the project's potential. The project leverages the Advanced Manufacturing Production Tax Credit to incentivize domestic production of rare earths, aligning with US government initiatives.

American Rare Earths (ARRNF) executives are set to participate in two key industry conferences to discuss recent resource updates at Halleck Creek. The Company's geologist will present at PDAC, highlighting the flagship project, while the CEO will join a panel at the Battery Venture Conference. The presentations aim to showcase the Company's significant measured and indicated resources.