American Rare Earths Reports High-Grade Assays From Wyoming Drilling Program

American Rare Earths reported certified assay results from the first six holes of its 2026 feasibility-study drilling program at the Cowboy State Mine area of Wyoming’s Halleck Creek Rare Earths Project. Across 386 intervals, the holes averaged 3,497 ppm total rare earth oxides (TREO), with a median of 3,879 ppm, while about 93% exceeded the project’s 1,000 ppm resource cut-off. The highest individual sample graded 9,084 ppm TREO over 3.02 meters, and hole HC26-RM056 produced a 191.11-meter mineralized interval averaging 3,951 ppm TREO. Other broad, higher-grade intervals included 110.02 meters at 4,221 ppm in HC26-RM055 and 102.63 meters at 3,854 ppm in HC26-RM052. The company said the results support continuity of its geological model and are intended to improve resource confidence and inform mine planning; assays from the remaining holes are pending.
Of the 386 reported intervals, 358 exceeded the 1,000 ppm TREO cut-off, while 28 intervals—about 7%—fell below it. The reported intervals represented 789.2 metres of sampled material.
The pooled grade included an average of 981 ppm magnet rare earth oxides (MREO), comprising 3,059 ppm light rare earths and 438 ppm heavy rare earths.
The drilling program was designed to target higher-grade zones near the top of Red Mountain as well as areas around its base, with the results intended to support future resource-classification work and subsequent mine-planning studies.
American Rare Earths CEO Mark Wall said that “broad continuous mineralisation” was as important as the headline grades, describing the first six assays as “an encouraging start” while noting that the balance of the 18-hole program had yet to be reported.
The company’s pooled grade is a simple mean rather than a length-weighted average. The reported statistics excluded 20 QA/QC-only assays, and the oxide values were converted from certified elemental assays using stoichiometric factors consistent with Halleck Creek technical documentation.
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