SALT LAKE CITY, UT, US, July 27, 2022 /EINPresswire.com/ — U.S. Critical Materials Corp. is pleased to announce that the company has entered into a definitive agreement with US Energy Metals Corp, a wholly owned subsidiary of US Critical Metals Corp. (TSXV: USCM). The agreement calls for US Critical Metals Corp. to invest up to 10 million dollars into a joint venture formed between the two companies. The joint venture will initially focus on developing Sheep Creek, Montana, whose mining rights are currently owned by U.S. Critical Materials.
The properties contain at least 12 of the critical risk elements as defined by the U.S. Geological Survey. The key property elements include neodymium and praseodymium. The project also includes cerium, dysprosium, europium, gadolinium, lanthanum, niobium, scandium, strontium, samarium, and gallium. These elements are critical inputs in the creation of electric vehicle batteries, various essential technologies, and military and defense applications. Most rare earth production is currently controlled by the Chinese government and represents a significant national security risk to US interest.
The high-grade rare-earth indications together with the low thorium readings are a unique combination. I believe that U.S. Critical Materials has the potential to be a top U.S. rare-earth producer.
Project Overview
Sheep Creek is in Ravalli County, southwest Montana and covers 54 lode claims representing over 1,000 acres of total land package. The claims are on multiple-use ground administered by the U.S. Forest Service.
Exploration activities have identified more than 50 carbonatite dikes in the Sheep Creek area. The carbonatites are up to three meters wide and can be followed for more than 300 meters along strike. Important ore minerals include ancylite, allanite, low-thorium monazite, and columbite. The dikes are valuable for their contained light rare earth elements and other strategic metals.
Previous grab and chip sampling of carbonatites by US critical Materials Corp. indicates potential for high-grade mineralization with up to 18.0% total rare earth elements, including 2.4% (23,810 ppm) combined neodymium and praseodymium, plus credits in niobium and other strategic metals. There were 51 samples taken, with average total rare earth element (REE) content at 6.8%, including an average of 0.9% (8640 ppm) combined neodymium and praseodymium.
The deposits are also unique due to low levels of thorium, which potentially allows for mining with minimal environmental impact. The levels of thorium averaged 200ppm, which is significantly below the 500-ppm permitting threshold established by the Nuclear Regulatory Commission, a U.S. government agency.
Montana Technological University (funded by the U.S. Army Research Lab), the U.S. Geological Survey, the Montana Bureau of Mines and Geology, and the Idaho Geologic Survey are currently collaborating with US Critical Minerals in a comprehensive investigation of the Sheep Creek mineralogy, geochronology, and trace element geochemistry. The U.S. Government agencies and Montana Technological University are also undertaking detailed mapping of the Sheep Creek district and conducting stream sediment surveys.
The samples were analyzed by Activation Laboratories of Ancaster, Canada (“Actlabs”). Actlabs is an independent ISO/IEC 17025 certified laboratory.
U.S. Critical Materials and U.S. Critical Metals will define further exploration plans for Sheep Creek, which will include exploration in the form of geologic mapping, sampling and analysis, and drilling with the objective of discovering mineral resources.
Management Commentary
‘Mr. James Hedrick, President and Director of U.S. Critical Materials commented, “The investment by U.S. Critical Metals gives U.S. Critical Materials the financial strength to aggressively pursue the development of the Sheep Creek, Montana property. The high-grade rare-earth indications together with the low thorium readings are a unique combination. I believe that U.S. Critical Materials has the potential to be a top U.S. rare-earth producer.”
Mr. Darren Collins, CEO and Director of U.S. Critical Metals, stated: “This partnership positions U.S. Critical Metals with increased exposure to commodities essential to U.S. security of supply and national security interests. Consistent with our Clayton Ridge Lithium Property in Nevada and Haynes Cobalt Property in Idaho, these rare earth properties in Montana and Idaho have strong grade indications and significant expansion potential.”
About US Critical Materials Corp.
U.S. Critical Materials Corp. is a private rare earths exploration and development company with holdings in Montana and Idaho. The properties have potential byproduct mineralization that includes gallium, strontium, niobium, and scandium. The deposits have high levels of neodymium and praseodymium. Future development includes additional exploration, geologic mapping, sampling and analysis, and drilling with the objective of completing a future resource and reserve estimation. The Sheep Creek deposits are unique due to low levels of thorium, which potentially allows mining with minimal damage to the environment. Sheep Creek is one of the highest-grade light rare earth projects in the US. Sampling at Sheep Creek has produced average total rare earth elements of 6.8% across 51 samples.
For further information please contact:
Rachel Winn
Director of Operations
Telephone: 801-322-3401
Email: rachelwinn@uscriticalmaterials.com
Rachel Winn
US Critical Materials Corp
+1 801-322-3401
email us here
Also Published on Newswires: U.S. Critical Materials Secures Investment for Its Sheep Creek, Montana Rare Earths Project