American Rare Earths Announces Zircon Co-Product Potential
May 29 2024 - 8:03AM
American Rare Earths Ltd. (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY)
(“ARR” or the
“Company”) is
pleased to announce the zircon co-product potential alongside REE
processing at Halleck Creek as part of a research collaboration
with the School of Energy Resources (“SER”) at the University of
Wyoming.
Donald Swartz, Chief Executive Officer
of American Rare Earths, commented:
“Zircon is typically a minor product obtained
from processing heavy mineral sands and has many high value
applications across multiple industries. We are thrilled to
announce the discovery of a potential co-product in our Halleck
Creek project. This potential was only recently identified as part
of our previously announced REE processing program modifications
emphasizing Dense Medium Cyclones work1 led by Lawrence Livermore
National Laboratory. This opportunity has the potential to generate
significant additional revenue and enhanced project economics.
Further details will be provided as we continue our assessment and
evolve our strategy to maximize value for our shareholders.”
This work is a significant step forward in
understanding the potential of zircon within the Red Mountain
pluton at ARR’s flagship Halleck Creek REEs project. Dr. Lily
Jackson, an expert in sedimentology, tectonics, and geochronology
from SER, has led this research. The Company aims to understand the
significance of zircon within the REEs bearing Red Mountain pluton
at Halleck Creek. Zircon, like allanite contains REEs elements and,
has the potential to be a significant contributor of Heavy REEs
(“HREE”) at Halleck Creek.
This market announcement has been authorized for release to the
market by the CEO of American Rare Earths.
Technical Summary
Preliminary assessments uncovered notable
anomalies in zircon within core samples collected from the Red
Mountain pluton. The preliminary findings indicate that zircon may
occur in greater abundance than previously observed. Observations
also reveal that zircon in the samples have metamict cores like
metamict cores observed in allanite at Halleck Creek. Furthermore,
this preliminary work indicates that metamict zircon cores
(centers) exhibit an exceptional enrichment in REEs Elements
compared to their rims. This is well illustrated by
cathodoluminescence images as observed in Figure 1.
Figure 1 – Back scatter electron and
cathodoluminescence image of a single zircon grain from Red
Mountain pluton exhibiting metamict and REE enriched cores.
For additional detail and the full technical summary see
here:
Competent Persons Statement:
This work was reviewed and approved for release
by Mr. Kelton Smith (Society of Mining Engineers #4227309RM) who is
employed by Tetra Tech and has sufficient experience which is
relevant to the metallurgical testing 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.
Smith consents to the inclusion in the report of the matters based
upon the information in the form and context in which it
appears.
About American Rare Earths
American Rare Earths Limited (ASX: ARR |
OTCQX: ARRNF |
ADR: AMRRY) owns the Halleck
Creek, WY and La Paz, AZ rare earth deposits which have the
potential to become the largest and most sustainable rare earth
projects in North America. American REEs 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.
Further information Contact:
Susan AssadiMedia
Relations USsassadi@americanree.com347 977 7125
Beverly JedynakInvestor Relations
USBeverly.jedynak@viriathus.com312 943 1123
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/131447b7-a90a-474e-85ec-c78662894907
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