Coalesce Mine-LandInvest a California LLC, proudly announces the discovery of the largest rare earth metal deposit in the United States, estimated to be worth $5.45 Trillion, encompassing significant quantities of iridium, gold and titanium located at Rainbow Wells in the Rainbow Basin of California.
Image Credit: Rainbow Basin
The Rainbow Basin part of the geologic Barstow Formation in the Calico Peaks range, located approximately 8 miles north of Barstow in the Mojave Desert encompasing the Rainbow Wellls Lave Tubes and the Aiken Mine. According to the National Geological Survey, the volcanic Barstow Formation has 24 Lava Tube's, is 50 miles long by 10 miles wide and 6000 feet deep. This monumental finding, characterized as "the largest find of iridium in the world" surpasses previous discoveries in Russia and South Africa. In light of this discovery, Coalesce is positioning itself as the United States' new “national champion” for rare earth elements.
Despite the high market value of iridium, currently priced at approximately $4,700 per ounce, the U.S. lacks domestic rare earth metals and mineral mines, with South Africa monopolizing 80% of the global market. In alignment with the U.S. strategic goal of reducing dependency on China, Coalesce believes that this mine will enhance the nation’s self-sufficiency in rare earth resources. Iridium, derived from the Latin term 'iris,' meaning rainbow, is notable for its exceptional corrosion resistance and is utilized in various high-tech applications, including electronics, aerospace, agriculture and the green hydrogen industry.
Coalesce has entered into a Land Development and Mining Agreement with the Winnemucca Indian Colony of Nevada and Chief William Bills, which holds ownership of approximately 400 acres of the site, gifted to the Tribe by a non-profit entity. This agreement is designed to foster environmental stewardship and ensure long-term benefits for the Tribe, which is governed by a five-person council and consists of 77 members. William Bills serves as the CEO/President and is recognized by the federal Bureau of Indian Affairs.
To validate earlier mineral rights appraisals conducted in 1985 and 2006, which confirmed the presence of iridium, gold, and titanium at the site, Coalesce has filed for a Department of the Interior grant. The forthcoming drilling exploration aims to verify and expand known iridium and gold deposits while also redefining the mineral resource estimates for the project under the Grant for Energy and Mineral Development Program 2025: 15.038 — Minerals & Mining on Indian Lands.
Coalesce views the Rainbow Basin discovery as a timely opportunity for President Trump’s energy council to expedite the review of key mining projects and provide energy grants through The National Energy Dominance Council, which is focused on fast-tracking mining development. On March 20, 2025, President Trump signed an executive order titled "Immediate Measures to Increase American Mineral Production," aimed at boosting domestic metals and mineral production by streamlining permitting processes and enhancing national security through reduced reliance on foreign imports. Furthermore, a Presidential Memorandum signed on June 30, 2025, seeks to simplify the funding process for energy infrastructure and critical metals and mineral projects by enhancing interagency coordination.
Coalesce is actively seeking government grants and federal revenue-sharing opportunities, similar to those utilized by the Department of Defense at the rare earth mine in Mountain Pass, Nevada, through the Defense Production Act and the Office of Strategic Capital. The unique structure of Coalesce reflects the U.S. government's innovative approach to overcoming the challenges associated with establishing and maintaining the production of critical rare earth metals and minerals, particularly in a market dominated by Chinese supply chains. The U.S. Interior Department has publicly supported the rare earth mine adjacent to Mountain Pass, and the Bureau of Land Management (BLM) has the authority to lease additional areas of the site for federal metals and mineral development.
Coalesce is In pursuit of its $1 billion private, public and federal plan to extract rare earths and establish processing facilities, including tokenizing the minerals. Coalesce is engaged in discussions with U.S. government agencies regarding potential financing. This includes efforts to create a critical metals and minerals fund through the United States International Development Finance Corporation in partnership with the Department of Defense. In addition it will be necessary to create multiple developments for mining support including housing for engineers and contractors; utilizing an existing a direct roadway connection from the Rainbow Wells site to Primm Nevada.
Coalesce is collaborating with a leading mining exploration company to employ cutting-edge technologies, such as integrated audio-frequency magneto telluric (AMT) methods, gravimetric surveying, and high-resolution magnetic profiling, to conduct precise appraisals of the site. The geological profile of the Rainbow Basin is characterized by diverse tectonic and magmatic activities, including Paleozoic volcanic, Mesozoic continental volcanic, Paleogene fluvial-lacustrine sedimentary, and Phanerozoic granite formations, specifically in and around the Lava Tubes at Rainbow Wells.
Coalesce is utilizing a Thermodynamic Model to elucidate the processes by which gold reaches the Earth's surface, revealing that active volcanic environments, such as the Rainbow Basin, are rich sources of rare earth elements. This innovative approach, combined with new sustainable methods for metal and mineral extraction such as MIT's electro-extraction to direct mineral extraction (DLE) from brine or mine waste that avoids toxic substances, underscores Coalesce’s commitment to environmental respect in the Rainbow Basin Natural Area.
This initiative represents a significant advancement for Coalesce as it expands its mining and land development projects in collaboration with multiple Indigenous Tribes across the United States. Coalesce has a long term vision to help “Rebuild the Tribal Nations” by assisting in the planning and development of current and future acquired Tribal Lands. Coalesce embodies a sovereign-aligned, impact-driven, and technologically innovative development entity, integrating corporate architecture, native art and design advanced business technologies, and structured financing to empower tribal communities and promote sustainable real estate developments on tribal land holdings.
Coalesce has development agreements on three other parcels with the Winnemucca Tribe, one of which is also suspected to contain rare earth minerals and encompasses over 109,000 acres, including the McCoy and Palen Mountains along I-10 in SE California. Coalesce has identified this property as the location of a future Freedom City to be named Los Lamens, situated near the Radial Fault Blocks and adjacent to the Colorado Desert, northwest of Blythe, near the Colorado River at the border with Arizona.