American Rare Earths (ASX:ARR) confirmed elevated rare earth mineralization in the Cowboy State Mine area, within the Halleck Creek project in Wyoming, following a mapping and channel sampling program, according to a Thursday filing with the Australian bourse.
Geologists from the company's subsidiary, Wyoming Rare (USA), collected 106 channel samples across Red Mountain in collaboration with Geosyntec, returning total rare earth oxide (TREO) grades of up to 13,651 parts per million, the filing said.
Out of 106 samples, 15 had a TREO level exceeding 4,500 parts per million.
Channel sampling data is being integrated into an updated geological model and mineral resource estimate for the area, per the filing.
Shares rose nearly 4% in afternoon trade Friday.
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