American Rare Earths (ASX:ARR) is incorporating recent channel sampling results into a resource model for its upcoming Prefeasibility Study (PFS) at the Halleck Creek Rare Earths Project in Wyoming. Sampling at the Cowboy State Mine, part of Halleck Creek, returned total rare earth oxide (TREO) grades up to 13,651 parts per million (ppm). Fifteen out of 106 samples exceeded 4,500ppm TREO, with magnet rare earth oxides (MREO) averaging 1,023ppm (28% of TREO) and heavy rare earth oxides (HREO) averaging 464ppm (13% of TREO).
The company, with a market capitalization of $149.68 million, is using the channel sampling data to refine its geological model and mineral resource estimate for the Cowboy State Mine area. This data will inform mine planning and support the PFS, anticipated later this year. CEO Chris Gibbs noted that a staged development could potentially bring Halleck Creek into production by 2029. Gibbs emphasized the importance of Halleck Creek as a domestic source of critical materials, especially given China’s recent export bans on terbium and dysprosium. The project benefits from its location on state lands in Wyoming, offering a streamlined path to development. American Rare Earths also collected samples from the Bluegrass and Countryline areas of the Halleck Creek project, with further information to be released as available.
