Stocks of the Hour: American Rare Earths, Conico, American West Metals

American Rare Earths (ASX:ARR) today announced a substantial increase to the Exploration Target for their Halleck Creek project, confirming its potential to be one of the largest Rare Earth Projects in the USA. CEO Chris Gibbs commented “ The Hallek Creek project is shaping up to become a world class asset. The maiden drill campaign was a resounding success, and the new exploration target is massive.” Shares are trading 10.6 per cent higher at 26 cents.

Conico (ASX:CNJ) today provided an update on exploration activities at the Mt Thirsty Joint Venture, where all five diamond drill holes completed to date as part of the Phase I drill campaign have intersected thick zones of disseminated sulphides. The current Phase I drill campaign is testing for extensions to the discovery made by Galileo Mining located less than 200 metres from the MT Thirsty northern tenement boundary. Executive Director, Guy le Page, commented: “The continuity of prospective horizons south of Callisto is encouraging with recent drilling from this first phase intersecting thick and continuous zones of heavily disseminated sulphides in the first five drill holes.” Shares are trading 9.1 per cent higher at 6 cents.

American West Metals (ASX:AW1) today announced outstanding first assay results for the diamond drilling program at their Storm Copper Project on Somerset Island, Canada. Dave O’Neill, Managing Director of American West Metals commented: the first assays to be received for drilling in the current program – have returned spectacular copper grades over very significant thicknesses. “These results immediately validate the historical high-grade intersections and highlight the quality of the Storm mineral system. These kinds of grades and thicknesses are exactly what we want to see as we work to define a shallow high-grade copper resource. Shares are trading 55.6 per cent higher at 21 cents.