Highlights:
- In-Situ Resources at
Halleck Creek increased 64% to 2.34 billion tonnes (1.81 Mt, 27% Magnetic Rare Earth Oxides (“MREO”) at 3,196 ppm Total Rare Earth Oxides (“TREO”) using a 1,000ppm TREO cut-off. - 1.42 billion tonnes of measured and indicated resources (a 128% increase) were estimated at a grade of 3,295 ppm TREO using a 1,000ppm TREO cut-off.
- The progress made around mine planning and metallurgy supports a cut-off grade of 1,000 ppm based on a thorough economic and technical evaluation by independent mining consultant(s), compared to a cut-off grade of 1,500 ppm in prior reporting (See Figure 1 for comparison where grade increased irrespective of cutoff grade).
- 2023 drilling expanded lateral and vertical resource extents, deposit remains open at depth and along strike.
Figure 1 - Grade Tonnage Curve for TREO 2023 v 2024 Update
Adding ARR’s outstanding drilling results from Sept/
ARR is working with Stantec, an international engineering consulting provider, to develop a JORC scoping study at
“These results are illustrative of the enormous potential of the project when the resource increases 64% during a developmental drilling campaign, which increased measured/indicated resources 128%. Typically, you’ll see the resource decrease as infill drilling takes place – instead we’re seeing the opposite, with only 25% of the project being drilled to this point. The low-cost mine plan when combined with the breakthroughs around metallurgy have increased our confidence and excitement about this world class deposit. At 27% MREO, we look forward to releasing the results of the scoping study that is nearing completion.”
Magnet rare earth elements (Nd2O3, Pr6O11, Sm2O3, Dy2O3, and Tb4O7) comprise about 27% of the total resource with an average grade of 774ppm MREO with a contained metal estimate of 1.8 million tons.
Figure 2 - MREO distribution in drilling data
Summary of Key Material Information used to Estimate the Mineral Resources
Tenement and Land Status
Total mineral control held by ARR in the Halleck Creek district is 8,165 acres (3,304 ha).
Project Geology
Halleck Creek resides in Red Mountain Pluton (RMP) of the 1.43
Primary rare earth bearing rock types within the RMP consist of clinopyroxene quartz monzonite (CQM), and biotite-hornblende quartz syenite (BHS). Allanite is the primary rare earth element (REE) host mineral at the Halleck Creek project. Allanite is a sorosilicate within the epidote group which contains a significant number of REEs in its primary mineral structure. Allanite usually occurs in association with clinopyroxene, hornblende, olivine and zircon agglomerated as “mafic clots” within CQM.
Drilling
Since
Resource Classification
The Resource is classified as either measured, indicated, or inferred. Subject to the application of “modifying factors” the measured plus indicated component of the resource may allow for a formal evaluation of its economics with the potential to be converted to a Probable Ore Reserve. Therefore, a high degree of conservatism has been adopted as the underlying premise of the resource classification and, in particular, the indicated component.
The classification at Halleck Creek is based on the following key attribute:
Geological continuity between drillholes
- Mineralization is controlled by batholith-scale fractionation. Hence, both empirical observations and statistical analysis confirm a very high degree of continuity with the respective rock masses at
Overton Mountain andRed Mountain . - This is supported by variography.
Drill spacing and drill density
- The drill pattern is mostly irregular with drill spacing of approximately 200m.
- At
Overton Mountain an area has been infilled on a systematic grid spacing of approximately 90m. The Competent Person considers this spacing to be adequate to support a measured classification.
Resource Reconciliation
Between 2024 and 2023, total estimated resources increased by approximately 0.91 billion tonnes (64%). The estimated TREO grade decreased by 133 ppm TREO (-3%). Measured + Indicated resource increased by 0.79 billion tonnes (128%). Inferred resources increased by 0.18 billion tonnes (15%).
Differences in the resource estimates occurred due to:
- Change in cut-off grade from 1,500ppm to 1,000ppm TREO
- Increase in resource dimensions because of Sept/
Oct 2023 Exploration- Drilling to 302 meters demonstrated that the resource continues at depth and remains open
- Drill hole spacing of new and existing data increased confidence levels and allowed the resource area to expand
- Drill hole spacing allowed measured resources to be defined and indicated resources to be redefined
- Drilling assays increased the grade of the resource
Traditional open pit surface mining would be employed at Halleck Creek. The mineralised rock material occurs at surface and continues at depth as shown in block models.
ARR previously released results of preliminary metallurgical test work demonstrating that up to 93% of gangue material can be separated from mineralised rare earth minerals using dense media separation (DMS) and wet high intensity magnetic separation (WHIMS).
Figure 3 – Preliminary Beneficiation Flowsheet
ARR is undertaking preliminary work on leaching and refining of REE from WHIMS feed concentrate. Initial testing indicates that recoveries between 80% and 100% of light REE can be achieved through direct acid leaching at lower temperatures. The results from this testing will be announced as soon as completed.
Permitting Assessments
ARR is developing needs assessments for potential development of mines at Halleck Creek. in phases. The first phase consists of acquiring a license to explore on state mineral leases from WDEQ to collect rocks for bulk material testing and pilot scale metallurgical test work. The second phase is to prepare and implement a detailed baseline environmental plan and mining permit to mine on state mineral leases.
ARR is developing partnerships with various
Future Work for 2024
- JORC Scoping Study being prepared by Stantec
- Test mine approval for bulk sample permits (aka license to explore)
- Additional detailed metallurgical test work for beneficiation, leaching and refining of rare earth oxides
- Options for Pilot Plant being studied
To see the full JORC Table you can find that here.
Competent Persons Statement: The information in this document is based on information compiled by personnel under the direction of Mr.
About
Head Office
info@americanrareearths.com.au
americanrareearths.com.au
For additional information:
Media Relations US
sassadi@americanree.com
347 977 7125
Investor Relations US
Beverly.jedynak@viriathus.com
312 943 1123
Figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/7adc2e51-9884-4c49-91e6-1fd81bd04139
https://www.globenewswire.com/NewsRoom/AttachmentNg/582810ac-439c-43b4-9b68-f5fecbd77934
https://www.globenewswire.com/NewsRoom/AttachmentNg/22315392-22a8-4a56-bffd-63d9e55dad5b
Figure 1
Grade Tonnage Curve for TREO 2023 v 2024 Update
Figure 2
MREO distribution in drilling data
Figure 3
Preliminary Beneficiation Flowsheet
2024 GlobeNewswire, Inc., source