American Rare Earths Limited CEO Donald Swartz joined Steve Darling from Proactive to share results from the recently completed diamond drilling program at Overton Mountain, a key component of the Halleck Creek Rare Earths Project situated in Wyoming.
These results, complemented by pending assays from RC (reverse circulation) holes, are poised to play a crucial role in upgrading the current JORC Resource estimate, which currently stands at an impressive 1.43 billion tonnes.
Swartz emphasized the primary objectives of the drill campaign, which were twofold: first, to confirm that the deposit extends far beyond the boundaries of the current resource model, and second, to ascertain its homogeneity and economic viability for mining operations.
The outcomes have been highly promising and suggest that the deposit is significantly larger than previously estimated, with a uniform distribution that bodes well for cost-effective extraction.
The imminent upgrade of the JORC Resource is a source of great excitement for American Rare Earths, and the future holds immense potential. One noteworthy revelation is that the depth of enrichment has proven to be more than double the initial estimates, further underscoring the deposit's significance.
The exploration team's performance has exceeded expectations, and anticipation is building as they await the forthcoming RC assay results. Moreover, it is noteworthy that not only has the drilling campaign revealed an increase in grade, but it has also demonstrated that the deposit remains open at considerable depths, extending to at least 302 meters (990.81 feet).
The received assay results are particularly encouraging, with total rare earth oxide (TREO) averages of 4,478 parts per million (ppm), significantly surpassing the previous deposit average of 3,309 ppm TREO as per the Company's prior resource estimate.
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