ARR - American Rare Earths increases grade at Overton Mountain following drill results on Halleck Creek
(NewsDirect)
American Rare Earths Limited CEO DonaldSwartz joined Steve Darling from Proactive to share results from therecently completed diamond drilling program at Overton Mountain, a keycomponent of the Halleck Creek Rare Earths Project situated inWyoming.
These results,complemented by pending assays from RC (reverse circulation) holes,are poised to play a crucial role in upgrading the current JORCResource estimate, which currently stands at an impressive 1.43billion tonnes.
Swartz emphasizedthe primary objectives of the drill campaign, which were twofold:first, to confirm that the deposit extends far beyond the boundariesof the current resource model, and second, to ascertain itshomogeneity and economic viability for mining operations.
The outcomes have been highly promisingand suggest that the deposit is significantly larger than previouslyestimated, with a uniform distribution that bodes well forcost-effective extraction.
Theimminent upgrade of the JORC Resource is a source of great excitementfor American Rare Earths, and the future holds immense potential. Onenoteworthy revelation is that the depth of enrichment has proven to bemore than double the initial estimates, further underscoring thedeposit's significance.
Theexploration team's performance has exceeded expectations, andanticipation is building as they await the forthcoming RC assayresults. Moreover, it is noteworthy that not only has the drillingcampaign revealed an increase in grade, but it has also demonstratedthat the deposit remains open at considerable depths, extending to atleast 302 meters (990.81 feet).
Thereceived assay results are particularly encouraging, with total rareearth oxide (TREO) averages of 4,478 parts per million (ppm),significantly surpassing the previous deposit average of 3,309 ppmTREO as per the Company's prior resource estimate.
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