Mining Intelligence and News
United States

Halleck Creek (Cowboy State) Project

Click for more information

Categories

Summary

Mine TypeOpen Pit
Study CompletedPreliminary Economic Assessment
Study in ProgressPrefeasibility
Commodities
  • REE
  • Lanthanum
  • Terbium
  • Dysprosium
  • Praseodymium
  • Neodymium
Mining Method
  • Truck & Shovel / Loader
Project Timeline... Lock
Mine Life... Lock
SnapshotThe Halleck Creek rare earth project comprises two primary resource areas: Overton Mountain and Red Mountain. Within the Red Mountain area lies the Cowboy State Mine (CSM), a subarea where Wyoming Rare (USA) Inc. is focusing its development efforts.

Halleck Creek is to be developed in two separate and independent phases:
• Phase 1: The Cowboy State Mine (State Land & Minerals) to expedite permitting and accelerate production and cash flow timelines;
• Phase 2: Development of Halleck Creek on Federal Land & Minerals, which has an 80-year plus mine life potential.

The CSM has the strategic advantage of a Wyoming State permit to mine process which is typically 2-3 years (vs. federal permits of +10 years). Received State of Wyoming grant of US$7.1 mm to help advance the development of the Cowboy State Mine. Received a non-binding letter of interest from the U.S. EXIM Bank for up to US$456 mm debt financing, covering all initial CSM capex.

The Pre-Feasibility Study is ongoing.
Latest NewsAmerican Rare Earths: Mineral Resource Estimate Updated for the Cowboy State Mine Area at Halleck Creek     November 19, 2025

Owners

SourceSource
CompanyInterestOwnership
American Rare Earths Ltd. 100 % Indirect
The Halleck Creek (Cowboy State) Project is owned by Wyoming Rare (USA) Inc., a wholly owned subsidiary of American Rare Earth.

Contractors

Lock

- subscription is required.

Deposit type

  • Magmatic

Summary:

Deposit Type
The Red Mountain pluton (RMP) of the Halleck Creek Rare Earths Project is an example of a magmatic allanite hosted REE deposit composed of rocks ranging from monzonitic to syenitic.

A-type granites are formed by partially melting mantle rock within stable continental blocks or rift zones. Mantle magma ascends through the crust and changes chemically in response to various factors, including temperature, pressure, and chemistry of wall rock. The term alkaline infers that the parent magma has a primary enrichment of Na2O and K2O and, as such, contains abundant Na- and Kbearing minerals such as feldspathoids, alkali pyroxenes, and alkali amphiboles. These magmas are not only enriched in REEs but are typically enriched in zirconium, niobium, strontium, barium, and lithium (Balaram, 2019). Primary alkaline deposits are commonly associated with elevated levels of uranium and thorium. The RMP deposit, however, is unusually depleted of radioactive elements.

It is also common for primary magmatic mineralization to be overprinted by late magmatic and/or hydrothermal fluids (Balaram, 2019). Hydrothermal alteration at the RMP deposit is minimal and has not affected REE mineralization.

REE mineralization in deposits such as observed at Halleck Creek is directly attributed to fractional crystallization in the late stages of magma body evolution.

Primary rare earth bearing rock types within the RMP consist of clinopyroxene quartz monzonite (CQM), and biotite-hornblende quartz syenite (BHS). Allanite is the primary rare earth element (REE) host mineral at the Halleck Creek Project. Allanite is a sorosilicate within the epidote group which contains a significant number of REEs in its primary mineral structure. Allanite usually occurs in association with clinopyroxene, hornblende, olivine and zircon agglomerated as “mafic clots” within CQM.

Deposit Dimensions
The Halleck Creek REE project currently contains two primary resource areas: the Red Mountain area and the Overton Mountain area. Resources also extend into the Cowboy State Mine area and the Bluegrass resource area.

Like the Red Mountain drilling, RC samples at Overton Mountain contained TREO assay values exceeding 3,500 ppm to depths of 150m in 18 holes. One, 302m diamond core hole additionally exhibited grades exceeding 2,000 ppm to the bottom of the hole. Therefore, ARR considers the Overton Mountain resource area to be open at depth.

Mineralization
Rare earth element mineralization within the pluton is hosted within allanite [Ce,Ca,Y,La)2(Al,Fe3)3(SiO4)3(OH)], a sorosilicate of the epidote group, and zircon. Mineralization occurred due to fractional crystallization of the RMP bodies over time.

Reserves

Lock

- subscription is required.

Mining Methods

Lock

- subscription is required.

Required Heavy Mobile Equipment

Lock

- subscription is required.

Comminution

Crushers and Mills

Lock

- subscription is required.

Processing

Lock

- subscription is required.

Commodity Production

Samarium (Sm), Europium (Eu), Gadolinium (Gd) mixed oxide concentrate also referred to as “SEG” concentrate.
CommodityProductUnitsAvg. AnnualLOM
Lanthanum Carbonate t 36,200 *
NdPr Oxide t 1,833 *38,500 *
SEG Oxide t 488 *10,300 *
Terbium Oxide t 24 *500 *
Dysprosium Oxide t 98 *2,100 *
NdPr Equivalent Oxide t 87,500 *
Total Rare Earth Oxides t 4,169 *
* According to 2025 study.

Operational metrics

Metrics
Annual ore mining rate  ....  Subscribe
Annual processing capacity  ....  Subscribe
Stripping ratio  ....  Subscribe
Waste tonnes, LOM  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Total tonnes mined, LOM  ....  Subscribe
* According to 2025 study.

Production Costs

CommodityUnitsAverage
Cash costs Tb4O7 USD  ....  Subscribe
Cash costs Dy2O3 USD  ....  Subscribe
Cash costs La2O3 USD  ....  Subscribe
Cash costs SEG USD  ....  Subscribe
Cash costs Nd2O3+Pr6O11 USD  ....  Subscribe
Cash costs Total Rare Earth Oxides USD  ....  Subscribe
Assumed price Tb4O7 USD  ....  Subscribe
Assumed price Dy2O3 USD  ....  Subscribe
Assumed price La2O3 USD  ....  Subscribe
Assumed price SEG USD  ....  Subscribe
Assumed price Nd2O3+Pr6O11 USD  ....  Subscribe
Assumed price Total Rare Earth Oxides USD  ....  Subscribe
* According to 2025 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscribe
OP OpEx $M USD  ......  Subscribe
Processing OpEx $M USD 1,645
Total Taxes $M USD  ......  Subscribe
Gross revenue (LOM) $M USD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M USD  ......  Subscribe
After-tax Cash Flow (LOM) $M USD  ......  Subscribe
Pre-tax NPV @ 10% $M USD  ......  Subscribe
Pre-tax NPV @ 8% $M USD  ......  Subscribe
After-tax NPV @ 10% $M USD  ......  Subscribe
After-tax NPV @ 8% $M USD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe
After-tax IRR, %  ......  Subscribe
Pre-tax payback period, years  ......  Subscribe
After-tax payback period, years  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 30, 2025
....................... Subscription required ....................... Subscription required Subscription required Mar 15, 2024
....................... Subscription required ....................... Subscription required Subscription required Nov 30, 2025

Workforce

Aerial view:

Lock

- subscription is required.