0:02 / 8:27
Jack Lifton, host of InvestorNews, recently sat down with Donald Swartz, the new CEO of American Rare Earths Limited (ASX: ARR | OTCQB: ARRNF), to delve deeper into the company’s exciting developments in the rare earth sector. Here’s a brief recap of their conversation:
Swartz shed light on the recent activity in the company’s stock, attributing the upward momentum to the drilling results just released. Spotlighting the Halleck Creek project in Wyoming, Donald touted as the company’s flagship project. Additionally, under Swartz’s leadership and with CFO Jose Rico, the company has explored new prospects, most notably Beaver Creek, which has already yielded high-grade assay results of up to 13.9% TREO.
While the current work is based on grab samples, Swartz confirmed that drilling is next on the agenda. Engagements with service landowners are underway, with drilling scheduled to begin before winter.
Asked about the business’s operating plan, Swartz revealed that results from the drilling at Halleck Creek will be available around October-November, with additional resource exploration planned for both sites. A JORC report for Beaver Creek is anticipated this fall, and the drilling results from Halleck Creek will contribute to a PEA or PFS in early next year.
Neodymium and praseodymium, vital magnet metals, are the predominant rare earths in both deposits. Swartz aims to integrate these findings into a thorough economic analysis to determine the extent of metal concentration.
Swartz also addressed potential logistical challenges. Despite the high altitude of the deposits, Swartz remains optimistic. The advantageous location near major infrastructure—like power grids, water sources, and transport networks—positions American Rare Earths Limited for success. As the coal industry faces decline, Swartz hopes to leverage Wyoming’s rich mining expertise for their projects.