The discovery in Montana is a billion-dollar “game-changer” providing a domestic source of rare earths to counter current US dependence on China
SALT LAKE CITY, Jan. 31, 2023 /PRNewswire/ — US Critical Materials Corp. is pleased to announce the highest reported total rare-earth oxide grades (TREO) of any rare earth deposit in the United States. The levels have been confirmed by analyses from Activation Labs, a well-known and highly respected independent analytical laboratory in Ancaster, Canada.
“We have confirmed that Sheep Creek is the highest-grade rare-earth deposit in the United States, with a multibillion-dollar resource value.” – Jim Hedrick
“We have confirmed that Sheep Creek is the highest-grade rare-earth deposit in the United States, with a multibillion-dollar resource value,” stated Jim Hedrick, US Critical Materials President, and former rare-earth Commodity Specialist at the U.S. Geological Survey (USGS).
US Critical Materials has nearly nine percent, 9 % TREO (89,932ppm), far ahead of any other domestic rare earth resource. The deposit also has readings of 2.4% (23,810ppm) combined neodymium and praseodymium, which are both essential for the green economy. US Critical Materials has recently confirmed carbonatite mineralization at depth, below high-grade surface samples of 17.05% TREO and 16.44% TREO. The Sheep Creek, Montana, property under claim by US Critical Materials totals seven (7) square miles.
For context, the Swedish Government announced on January 12th, 2023, that a Swedish State-owned mining company had discovered Europe’s largest deposit of rare earths, with an average grade of 0.18 % TREO. The Sheep Creek deposit, as mentioned in the prior paragraph, has an average grade of nearly 9 % TREO.
US Critical Materials’ goal is to supply consumers, industry, and the U.S. Government with the critical minerals required to meet technology, manufacturing, and defense needs, with the overall objective of addressing the necessity to obtain rare earth materials from “friendly” sources as defined by the Inflation Reduction Act (IRA). The United States is over ninety percent (90%) import-dependent on rare earths, most coming from China.
The Sheep Creek claims contain twelve (12) of the most essential critical minerals needed for the world’s evolution toward electrification and a “green economy.” In addition to their high rare earth levels, the claims are particularly low in radioactive thorium, thereby shortening the permitting process.
US Critical Materials is currently working with a major national laboratory to develop highly efficient, environmentally safe processes for domestically refining the rare earths found at Sheep Creek. The unique aspects of the Sheep Creek deposit will enable the Company to make the resource available for production and delivery on an expedited basis.
The Company is currently assessing its next steps, including financing and business development opportunities, for its Sheep Creek holdings.
About US Critical Materials Corp.
US Critical Materials Corp. is a private rare-earth exploration and development company, based in Salt Lake City, Utah. With holdings in Montana and Idaho, US Critical Materials’ goal is to develop its properties with strategic partners who have the capital and expertise to explore, mine, and extract its critical minerals. The Company currently has one minority partner, US Critical Metals.
For more information visit: www.uscriticalmaterials.com, or LinkedIn – US Critical Materials Corp.
Contact: Rachel Winn, Director of Operations,rachelwinn@uscriticalmaterials.com 801-322-3401.
Brigit Hennaman, Rubenstein Public Relations, bhennaman@rubensteinpr.com
212-805-3005.
Future results are impossible to predict. Opinions and estimates offered in this press release constitute our judgment and are subject to change without notice, as are statements about market trends, which are based on current market conditions. Therefore, the recipient of this press release is cautioned not to place undue reliance on forward-looking statements. In preparing these materials, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources. The recipient is further cautioned that US Critical Materials does not expect to update or otherwise revise this press release.
Also Published on PR Newswire: US Critical Materials Announces the Highest-Grade Rare-Earth Deposit in the United States