November 21, 2024 9:00 AM EST | Source: US Critical Materials Corp.
Salt Lake City, Utah–(Newsfile Corp. – November 21, 2024) – US Critical Materials Corp., a rare earth exploration company, announces the successful completion of an AI-powered mineral targeting program on its high-grade rare earth elements (REE) Sheep Creek exploration property in Montana, USA. This program was part of a strategic partnership with VerAI Discoveries, a leading AI-powered mineral asset company.
VerAI technology was trained on U.S. Critical Materials geophysical data and discoveries previously announced on the initial 800 acres already explored and tested, including 62 carbonatites. The grades of rare earths found at Sheep Creek averaged 9.1% to as high as 20% confirmed by both Idaho National Labs and Activation Labs.
VerAI’s technology was then used on the 5,900 acres of Sheep Creek claims that had not been previously explored and produced a number of additional drill ready sites with similar characteristics as the original training locations, indicating further evidence of the possibility of a continuous source of carbonatite material at depth throughout the entire 6,700 acres and 335 claims that make up our Sheep Creek holdings.
“Using our geophysical data and high-grade rare earth element targets on a portion of the property, VerAI has successfully identified multiple drill-ready targets on adjacent land with similar characteristics,” said James B. Hedrick, President of US Critical Materials. “From our initial evaluation of these targets, we have high confidence in their potential to host significant high grade REE mineralization and further confirms our project as a future key strategic supplier of REEs including high levels of neodymium and praseodymium, and critical minerals including scandium, gallium, strontium, niobium, and yttrium. We are currently working with Idaho National Labs to develop a US proprietary separation and processing system that will be significantly more efficient and environmentally responsible than what the Chinese are using. We look forward to commencing the drill test of the targets by the 3rd Quarter of 2025.”
In July 2024, US Critical Materials and VerAI entered into a strategic partnership, combining US Critical Materials’ extensive industry expertise with VerAI’s cutting-edge AI mineral discovery technology. This collaboration aims to identify and develop high-value mineral assets, contributing to the global supply chain of critical minerals essential for clean energy technologies and national security.
“We are thrilled to advance this partnership with US Critical Materials and deliver high-probability targets for exploration,” said Yair Frastai, CEO of VerAI Discoveries. “This collaboration not only adds additional royalties to our rapidly growing asset portfolio, underscoring our business model, but also allows us to have exposure to highly strategic REE products adding to our portfolio of copper, nickel, gold, lithium, and platinum group element assets. Our AI Discovery Platform has identified nine distinct types of base and precious metals in the Americas, significantly strengthening our strategic partnerships and bolstering our attractive asset portfolio.”
About US Critical Materials Corp.
US Critical Materials Corp. is a private rare earths exploration, development and process technology company based in Salt Lake City, Utah with holdings in Montana and Idaho. The mineral deposits held by US Critical Materials in Montana are unique due to their high grades of rare earths, low levels of thorium, and large numbers of surface carbonatites. The Sheep Creek deposits contain some of the highest grades of rare earth minerals in the United States including at least thirteen of the currently listed “critical” minerals. The company has also funded a collaboration with Idaho National Laboratory to create an environmentally responsible mineral extraction, separation, and process method.
As US Critical Materials progresses in its mission to bolster national security and technological independence the company remains dedicated to fostering partnerships, advancing sustainable practices, and contributing to the economic vitality of local communities.
About VerAI Discoveries, Inc.
VerAI Discoveries (VerAI) is an AI-powered mineral asset generator focused on uncovering and securing essential critical minerals for the green energy transition and a sustainable future. Their mission involves working with partners to target and develop new mineral discoveries in covered terrain within mining jurisdictions that remain largely unexplored. By deploying their novel proprietary AI Discovery Platform, VerAI significantly increases the probability of discovering substantial mineral deposits of different commodities and in various geological settings, shortens targeting time, and reduces exploration costs. For more information, visit https://ver-ai.com/.
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