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Canterbury Resources Limited (Canterbury or the Company) provides an update covering final assay results from its 2024 drilling program at the Briggs Copper Project (Project) in central Queensland. A Scoping Study is scheduled for completion in mid-2025, assessing potential development of a large-scale open pit mine, with ore processing via conventional froth flotation into copper and molybdenum concentrates.

HIGHLIGHTS

• Assay results have been received from the final holes in the 2024 drilling program at the large-scale Briggs copper-molybdenum project in Queensland¹ (Inferred resource 415Mt at 0.25% Cu and 31ppm Mo). These cover three holes assessing higher-grade mineralisation along the southwest margin of the Central porphyry and two testing the Southern porphyry target.
• The results confirm the Southern porphyry target as a new discovery approximately 300m to the southeast of the current Briggs resource, with copper and molybdenum mineralisation evident from near surface, e.g.
  • 270.5m at 0.22% Cu and 16ppm Mo from 17.7m in 24BRD0035, including
    • 83.8m at 0.28% Cu and 37ppm Mo from 27.2m.
  • 97m at 0.20% Cu and 66ppm Mo from 36m in 24BRD0036.
• Results from infill drilling at the Central porphyry resource have also extended the known zone of shallow, higher-grade mineralisation, e.g.
  • 203.1m at 0.36% Cu and 52ppm Mo from 98.0m in 24BRD0033, including
    • 26m at 0.50% Cu and 32ppm Mo from 102m, and
    • 85m at 0.43% Cu and 35ppm Mo from 148m.
  • 162.4m at 0.26% Cu and 44ppm Mo from 88.7m in 24BRD0034.
• All the 2024 drilling results are feeding into an updated Mineral Resource Estimate, being completed in the March quarter, which will be used in mining studies in the current Briggs Scoping Study. Results from the Scoping Study are expected in mid-2025.
• The metallurgical test-work component of the Scoping Study is well advanced, including comminution studies, plus assessment of copper and molybdenum recovery via flotation into sulphide concentrates. Results are expected in the March quarter. Previous test work indicated excellent metallurgical recoveries from all styles of copper mineralisation.²
• Funding for Briggs continues to be provided by Alma Metals Ltd (ASX: ALM) (Alma) under an Earn-In Agreement (Earn-In). Alma is in Stage-3 of the Earn-In whereby it can reach a 70% interest by spending an additional $10 million.

Managing Director, Grant Craighead, said: “The 2024 Briggs drilling program has been extremely successful. Importantly, we’ve outlined a higher-grade zone of mineralisation that enhances our early mining options, as well as confirming that the Southern porphyry hosts significant mineralisation providing potential to continue expanding the overall Briggs resource. We are also very encouraged by progress in our Scoping Study activities and look forward to outlining our project development concepts and indicative financial parameters in the not-too-distant future.”

The Project comprises six tenements: Briggs (EPM 19198), Mannersley (EPM 18504), Fig Tree Hill (EPM 27317), Don River (EPM 28588), Ulam Range (EPM 27894) and Rocky Point (EPM 27956). Alma is funding the Project and can reach a 70% interest by funding an additional A$10 million³.

Briggs is in a tier one jurisdiction with exceptional infrastructure. It is 60km west of the deep-water port of Gladstone and 15km north of a significant road, rail and power corridor. It also benefits from a skilled local workforce and straightforward land ownership.

Figure 1 Briggs Location

Briggs currently hosts an Inferred Mineral Resource Estimate (MRE) of 415Mt at 0.25% Cu and 31ppm Mo at the Central and Northern porphyry deposits (Figure 2), plus an encompassing Exploration Target of an additional 480Mt to 880Mt at 0.20% to 0.30% Cu and 25ppm to 40ppm Mo⁴ that has been outlined by surface mapping and geochemical sampling, plus limited shallow drilling. The potential tonnage and grade of the Exploration Target is conceptual in nature and there has been insufficient exploration to estimate a mineral resource. It is uncertain if further exploration will result in an increase in the MRE.

The 2024 core drilling program at Briggs commenced in June and the final hole was completed in early December. During the program, eleven holes (2,955.5m) were drilled, with assay results now received for the final five holes: three (24BRD0032 to 24BRD0034) at the Central porphyry and two (24BRD0035 and 24BRD0036) at the Southern porphyry (refer Figure 2 and Appendix 1).

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This article includes content from Canterbury Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

American Rare Earths (ASX: ARR | OTCQX: ARRNF | ADR: AMRRY) (“ARR” or “the Company”) is pleased to provide an overview of its quarterly activities for the period ending 31 December 2024. This review highlights the key achievements and ongoing activities that are shaping the Company’s future development. The Company continued its upward trajectory in the fourth quarter of 2024, advancing its Halleck Creek Project. With new partnerships, facility developments, and robust drilling results, ARR is poised to solidify its role as a cornerstone of the U.S. critical minerals supply chain.

Highlights

• Strategic Collaboration with BMO Capital Markets: The engagement of BMO Capital Markets as a financial advisor is a critical milestone in ARR’s strategy to accelerate the development of Halleck Creek by securing strategic investments and partnerships
• High-Grade Drilling Results: The Cowboy State Mine at the Halleck Creek Project yielded some of the highest- grade Total Rare Earth Oxide (TREO) results to date, including:
  • 148.0m @ 4,451 ppm TREO (max 6,198 ppm TREO)
• Strategic Facility Secured: ARR’s subsidiary, Wyoming Rare USA Inc., secured a key facility at the Western Research Institute in Wyoming. This facility will centralise operations, house core samples, and serve as the future site for a pilot plant
• $7.1 Million State Grant: ARR received the first reimbursement of over A$450,000 from the Wyoming Energy Authority to support ongoing initiatives

Strategic Engagement

ARR engaged BMO Capital Markets, a global leader in metals and mining financial advisory, to accelerate the development of its Halleck Creek Project in Wyoming. BMO will assist ARR and its U.S. subsidiary, Wyoming Rare USA Inc., in securing strategic investments, partnerships, joint ventures, and offtake agreements to position Halleck Creek as a cornerstone of the U.S. critical minerals supply chain. This move aligns with growing U.S. bipartisan support for onshoring critical minerals and Wyoming’s economic goals. With support from the Wyoming Energy Authority and a Letter of Interest from the U.S. Export-Import Bank, ARR aims to capitalise on favourable market dynamics and establish long-term shareholder value while contributing to the national agenda for a secure, domestic rare earth supply chain.

Drilling Operations

ARR announced on 27 November final assay results from its 2024 drilling campaign at the Cowboy State Mine (CSM) within the Halleck Creek Project, Wyoming. These results highlight some of the highest-grade Total Rare Earth Oxide (TREO) intersections recorded in the region, confirming the project’s potential as a leading North American rare earth resource.

Key Highlights:

• High-Grade Intersections:
  • HC24-RM046: 148.0 m @ 4,451 ppm TREO, including 52.5 m @ 5,273 ppm TREO (maximum 6,198 ppm TREO)
  • HC24-RM048: 161.5 m @ 4,275 ppm TREO, including 40.5 m @ 5,287 ppm TREO (maximum 5,869 ppm TREO)
  • HC24-RM049: 90.0 m @ 4,353 ppm TREO, including 16.5 m @ 5,313 ppm TREO (maximum 6,049 ppm TREO)

Drilling results demonstrate extensive high-grade zones, which will support updated geological models and resource estimates, crucial for advancing the project’s development.

These results emphasise the project’s potential to become a flagship rare earth resource for North America, aligning with the U.S. government’s strategic push to secure domestic critical mineral supply chains for defence and energy transition needs.

2024 Drill Hole Locations and Assay Summaries

With geological maps updated and Odessa Resources Ltd refining resource estimates, ARR announced an updated resource estimate on 29 January 2025 is and progressing a Pre-Feasibility Study (PFS), while engaging with strategic partners to unlock the project’s value.

Facility to Support Halleck Creek Project

Wyoming Rare (USA) Inc. secured a facility at the Western Research Institute in Laramie, Wyoming, marking a major step forward for the Halleck Creek Rare Earths Project. The facility will centralise operations by housing all drill core and assay samples and will also accommodate the construction of a pilot plant to advance rare earth processing capabilities. This partnership with the Western Research Institute, a renowned non-profit organisation specialising in energy systems and materials research, enables collaboration to enhance critical mineral development. The move aligns with Wyoming’s strategic goal of becoming a leader in rare earth element development while supporting the onshoring of critical mineral supply chains for the USA.

Wyoming Grant

The Company has received its first reimbursement of over A$450,000 from the Wyoming Energy Authority (WEA) grant, marking progress in developing the Cowboy State Mine at Halleck Creek. Part of a larger A$10.7 million (US$7.1 million) grant awarded in June 2024, the funds will support exploration drilling, environmental studies, and prefeasibility assessments, helping de-risk the project and achieve the Company’s 2025 goals. This milestone underscores ARR’s commitment to advancing the project and collaborating with the WEA to support Wyoming’s energy strategy.

Corporate

After many years of service to the Company farewelled Geoff Hill, a founding shareholder and long-standing member of the Board. ARR thanks Geoff for his exceptional leadership and strategic insights, which have significantly contributed to the Company’s growth and strengthened its position in the rare earths sector. His dedication and guidance leave a lasting legacy, providing a strong foundation for ARR’s future success.

The Company welcomed Mr. Hugh Keller to the Board as a Non-Executive Director, bringing extensive experience from his 34-year legal career at Dawson Waldron (now Ashurst) and various leadership roles across ASX-listed companies, private investment firms, and charities. Currently serving as a Non-Executive Director and Audit Committee Chairman for Cobalt Blue Holdings Limited, Hugh adds expertise in commercial contracts, audit procedures, and team leadership to the Board.

CEO, Chris Gibbs, was appointed as a Non-Executive Director on the Board of Godolphin Resources Limited (ASX: GRL). This appointment aligns with ARR’s increased investment in Godolphin, raising its shareholding to 19.82%, supported by a contribution of up to $510,000 to advance key projects, including the Lewis Ponds Gold and Base Metals Project and the Narraburra Rare Earths Project in New South Wales.

Melissa Sanderson has been appointed Co-Chair of the Critical Minerals Institute (CMI), a global organisation addressing challenges in the minerals sector. This role underscores her expertise in sustainable development and policy advocacy, aligning with ARR’s mission to establish a secure North American rare earth elements (REE) supply chain. Mel’s extensive experience in geopolitics and ESG strategies further strengthens ARR’s leadership in advancing a sustainable and ethically sourced REE supply chain.

The Company’s Annual General Meeting was held on November 28, 2024.

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This article includes content from American Rare Earths Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

Kingsrose Mining Limited (ASX: KRM) (Kingsrose or Company) is pleased to provide a progress update on the Finnmark (Norway) and Central Finland exploration alliances with BHP (Alliances).

HIGHLIGHTS

• In May 2024 Kingsrose commenced one of the largest scale generative exploration programs in Europe, under Alliances funded by BHP (Figures 1 and 2, see ASX announcement dated 22 May 2024).
• With the support of BHP’s generative exploration expertise, Kingsrose is applying mineral systems analysis of the mineral belts to identify the most prospective areas for discovery of polymetallic copper- nickel-PGE massive sulphide.
• US$2.7 million of the combined US$5.0 million committed expenditure for Year 1 of the ‘Project Generation Phase’ of the Alliances has been spent on exploration activities to 31 December 2024.

Finnmark Alliance

• A 5,067 line km airborne gravity gradiometry survey was completed in 2024 (Figure 1) along with 554 soil samples and 208 rockchip samples.
• High-grade copper in polymetallic copper-gold-PGE sulphide veins was discovered by Kingsrose in the Porsanger and Virdnechokka areas (Figure 1). These veins may be spatially related to, and used as vectors towards, deeper magmatic sulphide accumulations. Highlight results include:
  • 29.7 % Cu, 1.1 g/t Au, 53 g/t Ag, 0.54 g/t Pd, 0.02 g/t Pt, Porsanger (Sample 14398, Plate 1)
  • 4.4 % Cu, 1.8 g/t Au, 0.50 g/t Pd, 0.06 g/t Pt, Virdnechokka (Sample 14508, Plate 2)
• Regional-scale helicopter-borne EM surveys will commence in late February to explore for conductive bodies spatially associated with intrusions which may represent massive sulphide mineralisation.
• These combined datasets will be used to generate follow up targets for field work in summer 2025.

Central Finland Alliance

• 4,980 line km of drone and ground magnetic surveys were completed in the Haapajarvi reservation, along with 795 soil samples and 87 rockchip samples (Haapajarvi and Suonenjoki) (Figure 2).
• Newly discovered zones of outcropping mineralisation were identified at the Rehula target (Figure 2), including:
  • 0.46% Cu, 110 ppm Co, 0.03 g/t Pd, Rehula (Sample 13616).

Fabian Baker, Managing Director, commented “We are delighted with both the progress of our exploration programs and continued support from BHP for the Alliances. Systematic exploration using advanced geophysical and geochemical techniques is already returning highly encouraging results which is a testament to the prospective nature of the mineral belts we are exploring for critical minerals copper, nickel and PGEs. With an equally strong and dedicated approach to social and environmental values, we believe the long-term prospects for discovery in these underexplored regions on Europe’s doorstep are high.”

Plate 1: Chalcocite-bornite-quartz vein hosted in amphibolite. 29.7% Cu, 0.01% Ni, 1.1 g/t Au, 53 g/t Ag, 0.54 g/t Pd, 0.02 g/t Pt. Porsanger area, sample 14398.

Plate 2: Chalcopyrite-quartz vein hosted in paragneiss. 4.4% Cu, 0.01% Ni, 1.8 g/t Au, 0.50 g/t Pd,0.06 g/t Pt. Virdnechokka area, sample 14508.

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This article includes content from Kingsrose Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.