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American Rare Earths Drilling Results Confirm Higher Grade Extending to the West Cowboy State Mine Area

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American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) has announced positive assay results from its 2024 drilling campaign at the Cowboy State Mine (CSM) area in Wyoming. The results confirm high-grade rare earth ore in the western portion of the deposit, with significant intercepts including:

- HC24-RM044: 172.4m @ 3,716 ppm TREO
- HC24-RM036: 51.0m @ 3,390 ppm TREO
- HC24-RM040: 30.0m @ 2,203 ppm TREO

The campaign has defined the eastern boundary of the Red Mountain Pluton and will now focus on higher-grade zones near Red Mountain. Four additional drill holes are planned to target these areas. The CSM area is part of the larger Halleck Creek deposit, which has a 2.34 billion tonne JORC resource containing 7.48 million tonnes of total rare earth oxides.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ha annunciato risultati di analisi positivi dalla sua campagna di perforazione del 2024 nell'area del Cowboy State Mine (CSM) nel Wyoming. I risultati confermano la presenza di minerale di terre rare di alta qualità nella parte occidentale del giacimento, con intercettazioni significative tra cui:

- HC24-RM044: 172,4 m @ 3.716 ppm TREO
- HC24-RM036: 51,0 m @ 3.390 ppm TREO
- HC24-RM040: 30,0 m @ 2.203 ppm TREO

La campagna ha definito il confine orientale del Plutone di Red Mountain e ora si concentrerà su zone di qualità superiore vicino a Red Mountain. Sono previsti ulteriori quattro fori di perforazione per puntare su queste aree. L'area CSM fa parte del più ampio giacimento di Halleck Creek, che ha una risorsa JORC di 2,34 miliardi di tonnellate contenente 7,48 milioni di tonnellate di ossidi totali di terre rare.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) ha anunciado resultados de análisis positivos de su campaña de perforación 2024 en el área de Cowboy State Mine (CSM) en Wyoming. Los resultados confirman mineral de tierras raras de alta calidad en la parte occidental del depósito, con intercepciones significativas, incluyendo:

- HC24-RM044: 172.4 m @ 3,716 ppm TREO
- HC24-RM036: 51.0 m @ 3,390 ppm TREO
- HC24-RM040: 30.0 m @ 2,203 ppm TREO

La campaña ha definido el límite oriental del Plutón de Red Mountain y ahora se centrará en zonas de mayor calidad cerca de Red Mountain. Se planean cuatro perforaciones adicionales para apuntar a estas áreas. El área de CSM es parte del más grande depósito de Halleck Creek, que tiene un recurso JORC de 2.34 mil millones de toneladas que contiene 7.48 millones de toneladas de óxidos totales de tierras raras.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY)는 와이오밍에 있는 Cowboy State Mine (CSM) 지역에서 2024년 시추 캠페인에 대한 긍정적인 분석 결과를 발표했습니다. 결과는 매장물의 서부에서 고품질 희토류 광석의 존재를 확인하며, 중요한 구간에는 다음이 포함됩니다:

- HC24-RM044: 172.4m @ 3,716 ppm TREO
- HC24-RM036: 51.0m @ 3,390 ppm TREO
- HC24-RM040: 30.0m @ 2,203 ppm TREO

이 캠페인은 레드 마운틴 플루톤의 동쪽 경계를 정의했으며, 이제 레드 마운틴 근처의 고품질 지역에 집중할 예정입니다. 이 지역을 목표로 추가로 네 개의 시추 홀이 계획되어 있습니다. CSM 지역은 2.34억 톤의 JORC 자원을 포함하고 있는 더 큰 Halleck Creek 매장지의 일부입니다.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) a annoncé des résultats d'analyse positifs de sa campagne de forage 2024 dans la zone du Cowboy State Mine (CSM) dans le Wyoming. Les résultats confirment la présence de minerai de terres rares de haute qualité dans la partie occidentale du gisement, avec des intersections significatives comprenant :

- HC24-RM044: 172,4 m @ 3 716 ppm TREO
- HC24-RM036: 51,0 m @ 3 390 ppm TREO
- HC24-RM040: 30,0 m @ 2 203 ppm TREO

La campagne a défini la limite est du Pluton de Red Mountain et se concentrera maintenant sur des zones de qualité supérieure près de Red Mountain. Quatre forages supplémentaires sont prévus pour cibler ces zones. La zone CSM fait partie du plus grand dépôt de Halleck Creek, qui possède une ressource JORC de 2,34 milliards de tonnes contenant 7,48 millions de tonnes d'oxydes de terres rares au total.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) hat positive Analyseergebnisse aus seiner Bohrkampagne 2024 im Cowboy State Mine (CSM)-Gebiet in Wyoming angekündigt. Die Ergebnisse bestätigen hochgradiges seltenes Erdemineral im westlichen Teil des Vorkommens, mit signifikanten Abfangungen, darunter:

- HC24-RM044: 172,4 m @ 3.716 ppm TREO
- HC24-RM036: 51,0 m @ 3.390 ppm TREO
- HC24-RM040: 30,0 m @ 2.203 ppm TREO

Die Kampagne hat die östliche Grenze des Red Mountain Pluton definiert und wird sich nun auf hochwertigere Zonen in der Nähe des Red Mountain konzentrieren. Vier weitere Bohrungen sind geplant, um diese Bereiche anzusprechen. Das CSM-Gebiet ist Teil des größeren Halleck Creek-Vorkommens, das eine JORC-Ressource von 2,34 Milliarden Tonnen enthält, die 7,48 Millionen Tonnen seltener Erden oxiden umfasst.

Positive
  • Confirmation of high-grade rare earth ore in the western portion of the Cowboy State Mine deposit
  • Significant intercepts with high TREO concentrations (e.g., 172.4m @ 3,716 ppm TREO)
  • Drilling campaign completed under budget, allowing for four additional drill holes
  • Potential to be the next rare earth mine built in the USA outside of Mountain Pass
  • Halleck Creek project has a large JORC resource of 2.34 billion tonnes containing 7.48 million tonnes of total rare earth oxides
Negative
  • Lower assay results observed in the eastern boundary of the Red Mountain Pluton

Highlights

  • Assay results for 12 core and RC holes received following the completion of the 2024 drilling campaign
  • Assays confirm high-grade ore in the western portion of the Cowboy State Mine (CSM) deposit
  • Significant intercepts include:
    • HC24-RM044: 172.4m @ 3,716 ppm TREO
    • HC24-RM036: 51.0m @ 3,390 ppm TREO
    • HC24-RM040: 30.0m @ 2,203 ppm TREO
  • Additional four drill holes planned to target higher-grade zones into Red Mountain

DENVER, Oct. 01, 2024 (GLOBE NEWSWIRE) -- American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or the “Company”) is pleased to announce the latest assay results from its 2024 drilling campaign at the Cowboy State Mine (“CSM”) area, held by its wholly owned subsidiary, Wyoming Rare (USA) Inc. (WRI). The CSM area marks the first phase in the multi-stage development of the larger Halleck Creek deposit in Wyoming, which boasts a 2.34 billion tonne JORC resource containing 7.48 million tonnes of total rare earth oxides1.

The 2024 drilling campaign confirms the presence of higher-grade ore in the western section of the Cowboy State Mine (CSM) deposit, particularly near Red Mountain. As part of this effort, WRI intentionally defined the eastern boundary of the Red Mountain Pluton (RMP), where lower assay results were observed.

With the eastern extent of the CSM deposit now defined, additional drilling will focus on higher-grade zones near Red Mountain. This area includes drill hole HC24-RM035, which reported an impressive average grade of 4,393 ppm TREO over 299.1 meters2. The 2024 drill campaign was completed under budget, allowing for four additional reverse circulation (RC) holes to be drilled before demobilizing the rigs. These new holes, totalling approximately 730 meters, are expected to be completed within the next week.

Chris Gibbs, CEO, commented:
“We are very pleased with the 2024 drilling campaign results, which have defined the eastern portion of the Cowboy State Mine (CSM) deposit and confirmed that higher-grade material is concentrated to the west, within the Red Mountain area. These additional drill holes will help us update our resource model and define mine plans for CSM. As the first phase of our development program, CSM has the potential to be the next rare earth mine built in the USA, outside of Mountain Pass. With 2.34 billion tonnes of JORC resources at Halleck Creek, we believe this project has the potential to be one of the largest rare earth developments in North America, supporting the nation’s growing demand for critical minerals.”

  1. ASX Announcement 7 February 2024
  2. ASX Announcement 3 September 2024

This announcement is authorized for release by the CEO of American Rare Earths.

Competent Persons Statement:
The information in this document is based on company work performed in July and August 2024. This work was reviewed and approved for release by Mr. Dwight Kinnes (Society of Mining Engineers #4063295RM) who is employed by American Rare Earths and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 JORC Code. Mr. Kinnes consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

Previously Released Information:
ARR confirms it is not aware of any new information or data that materially affects the information included in the original market announcements, and, in the case of the JORC Resource, that all material assumptions and technical parameters underpinning the JORC Resource in the relevant market announcements continue to apply and have not materially changed. ARR confirms that the form and context in which the Competent Person’s findings presented have not been materially modified from the original market announcements.

Full JORC Table and additional technical information can be found here.

American Rare Earths(ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) owns Wyoming Rare (USA) Inc. which is focused on the development of the Halleck Creek Project, WY.  It also owns La Paz, AZ rare earth deposit.  Both can potentially become the largest and most sustainable rare earth projects in North America.  The Company is developing environmentally friendly and cost-effective extraction and processing methods to meet the rapidly increasing demand for resources essential to the clean energy transition and US national security.  The Company continues to evaluate other exploration opportunities and is collaborating with US Government-supported R&D to develop efficient processing and separation techniques of (REEs) elements to help ensure a renewable future.

For further information, please contact:

Susan Assadi
Media Relations US
sassadi@americanree.com
347 977 7125

Beverly Jedynak
Investor Relations US
Beverly.jedynak@viriathus.com
312 943 1123

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/1b1219f7-5b79-4a64-9a1b-3571b03c7f03

https://www.globenewswire.com/NewsRoom/AttachmentNg/b7630292-9f8f-49a8-9a60-1b0324c58374


FAQ

What were the key findings of American Rare Earths' 2024 drilling campaign at the Cowboy State Mine?

The 2024 drilling campaign confirmed high-grade rare earth ore in the western portion of the Cowboy State Mine deposit, with significant intercepts including 172.4m @ 3,716 ppm TREO, 51.0m @ 3,390 ppm TREO, and 30.0m @ 2,203 ppm TREO.

How many additional drill holes are planned for the Cowboy State Mine area?

Four additional reverse circulation (RC) holes, totaling approximately 730 meters, are planned to target higher-grade zones near Red Mountain.

What is the size of the JORC resource at American Rare Earths' Halleck Creek deposit?

The Halleck Creek deposit has a 2.34 billion tonne JORC resource containing 7.48 million tonnes of total rare earth oxides.

When did American Rare Earths (ARRNF) complete its 2024 drilling campaign at the Cowboy State Mine?

The 2024 drilling campaign was completed recently, with assay results for 12 core and RC holes received and announced on October 1, 2024.

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