Apex Critical Metals Corp. (CNSX: APXC) (OTCMKTS: APXCF) (FRA: KL9) has expanded its U.S. presence with a new acquisition in Nebraska’s Elk Creek Carbonatite Complex.
Announced on Wednesday, the Canadian mineral exploration company announced it secured exploration rights and purchase options covering about 2,784 acres. The ground lies on both the east and west sides of NioCorp Developments (NASDAQ: NB) (FRA: BR30) Elk Creek Critical Minerals Project, one of the most advanced niobium and rare earth developments in North America.
The acquired ground, called the Rift Project, is viewed as highly prospective for rare earth element (REE) mineralization. The potential is supported by more than 50 years of geological records and drilling results. Apex sees this position as a chance to play a central role in U.S. efforts to establish secure domestic sources of critical minerals.
The Elk Creek Carbonatite was first identified as a rare metal complex over 50 years ago.
It hosts significant potential not only for rare earths but also for niobium. NioCorp Developments, with a market capitalization of about USD$600 million, has advanced the main niobium deposit.
“This acquisition positions Apex at the forefront of U.S. critical minerals exploration and development, particularly in rare earths, which are vital for advanced technologies, renewable energy, and US National Security,” said Sean Charland, CEO of Apex.
“The Elk Creek area has long been recognized for its geological promise, and we’re eager to advance exploration on these underexplored extensions to unlock their full REE potential.”
However, surrounding areas remain largely underexplored. Apex’s Rift Project includes parts of this underexplored ground and also features strong historical drill results.
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The results demonstrate potential scale of REE
Of the roughly 106 drill holes completed by former operator Molycorp before 1986, at least 19 sit within the Rift Project. Hole EC-93 delivered one of the best rare earth intercepts in the district. It cut 155.5 meters grading 2.70 per cent total rare earth oxides (TREO), starting from 149.4 meters depth. Within this zone, a 54.9-meter section graded 3.30 per cent TREO, with sub-intervals reaching up to 5.37 per cent TREO.
In 2011, Quantum Rare Earth Developments Corp, before it was absorbed into Niocorp, drilled nearby hole NEC11-004, which intersected 236.19 meters at 2.10 per cent TREO. Within that, 68.2 meters graded 3.32 per cent TREO, with multiple assays above 4.0 per cent.
“The drill hole (NEC11-004) encountered REE mineralization within strongly altered carbonatite and associated alkaline rocks. The step-out from historical hole EC-93 confirms the potential for a sizable deposit,” according to a Quantum release at the time.
These results demonstrate the potential scale of REE mineralization in the area. Additionally, they highlight the presence of high-grade cores that could enhance economic viability. Apex plans to build on this historical work with modern exploration tools, including advanced geophysics and targeted drilling.
The Rift Project hosts carbonatite intrusions similar to those found in the main Elk Creek deposit. Mineralization occurs mainly as monazite and bastnasite, two key REE-bearing minerals. The deposits lie under 190 to 200 meters of sedimentary cover, meaning no mineralization is visible at surface. However, this geological setting suggests the potential for extensions beyond the areas already drilled.
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Department of Defense has invested heavily
The timing of Apex’s entry into Elk Creek aligns with rising U.S. concerns about dependence on foreign sources for rare earths. The United States remains fully import-dependent for several of these critical minerals.
According to the U.S. Geological Survey, domestic consumption of rare earth oxides reached roughly 8,800 metric tons in 2024. Meanwhile, China continues to dominate global supply and has extended production quotas on imported concentrates.
Recent U.S. initiatives reflect a clear push to change this dependence. The Department of Defense invested USD$400 million into MP Materials’ (NYSE: MP) Mountain Pass mine in California. Additionally, Apple signed a USD$500 million supply agreement with the same producer. These moves illustrate both government and private sector urgency to secure rare earth supply chains.
Apex believes its Rift Project can contribute to this push. Furthermore, its proximity to NioCorp’s advanced project adds credibility to the potential of the wider Elk Creek district. By securing ground adjacent to a major U.S. critical minerals development, Apex has gained a foothold in one of the country’s most prospective rare earth regions.
The company cautioned that results from adjacent properties may not indicate mineralization within its own project. Nonetheless, the combination of strong historic results, favourable geology, and growing U.S. demand for rare earths strengthens the case for exploration. Apex is now modelling all historical information to define drill targets.
Initial efforts will focus on the EC-93 area and its extensions. The company intends to confirm past results and also expand mineralization through step-out drilling. Results from this work will shape future development decisions and determine how quickly the project advances.
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