Bayan Mining and Minerals Stakes 72 Lode Claims in California’s Mojave REE District

Bayan Mining and Minerals (ASX: BMM) is the latest Australian company to join the race to identify new rare earth element (REE) opportunities in the USA.

The company has staked applications for 72 federal lode claims covering approximately 6 square kilometres in the highly sought-after REE district of California’s Mojave Desert.

Notably, the new Desert Star project is located just 4.5 km north-east of the world-class Mountain Pass mine, currently the only REE mining and processing facility in the US.

Expanded Footprint

“The filing of staking applications for the Desert Star project claims represents a significant milestone for Bayan Mining and Minerals as we expand our strategic footprint into one of the world’s most prospective rare-earth districts,” executive director Fadi Diab said.

Bayan’s initial studies suggest the geological setting, structural framework, and early geophysical indicators are highly encouraging and that the area is also prospective for gold and antimony.

“We believe this project offers a rare opportunity to explore in a Tier-1 jurisdiction with growing geopolitical importance in the global critical minerals supply chain,” Mr Diab added.

“We are committed to rapidly advancing exploration to unlock the full potential of Desert Star and build long-term value for our shareholders.”

Successful Capital Raising

To help support upcoming exploration activities across its existing projects and Desert Star, the company has raised $250,000 after receiving binding commitments from sophisticated and professional investors.

Planned activities include field work, sampling, geological mapping, and permitting of its new claims.

Once it has successfully registered the claims, Bayan plans to carry out a detailed technical review of the project.

The initial phase will include comprehensive data analysis and the development of a targeted reconnaissance mapping and geochemical sampling program, which Bayan has scheduled to commence in the coming weeks.

REE Critical US Target

Bayan’s claim staking comes at a time when the US government is actively pursuing plans to bolster domestic REE production and processing capabilities.

By doing so, it aims to reduce the country’s reliance on China and secure supply chains for national security and technological advancement.

These plans involve a multi-pronged approach that includes investments in mining and processing facilities, research and development into new technologies, as well as strategic partnerships to build a resilient mine-to-magnet supply chain.