In a recent InvestorIntel interview, Chris Thompson spoke with American Rare Earths Limited’s (ASX: ARR | OTCQB: ARRNF) President – North America, Marty Weems, about the positive field assay results from the La Paz Project in Arizona. Marty highlights how American Rare Earths’ La Paz Project is on track to become a North American rare earths producer.
In this interview, which may also be viewed on the InvestorIntel YouTube channel (click here to subscribe), Marty comments on the United States government’s push to develop a rare earths supply chain outside of China. With rising demand for electric vehicles, wind turbines and defense applications, Marty highlights how the American Rare Earths’ La Paz Project already has a 170.6 million ton JORC compliant resource and provides an update on the new Southwest Zone.
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About American Rare Earths Limited
American Rare Earths Limited is an Australian company listed on the ASX with assets in the growing rare earth metals sector of the United States of America, itself emerging as an alternative international supply chain to China’s market dominance of a global rare earth market expected to expand to US$20 billion by the mid-2020s. The Company’s mission is to supply Critical Materials for Renewable Energy, Green Tech, Electric Vehicles, National Security, and a Carbon-Reduced Future. Western Rare Earths (WRE) is the wholly owned US subsidiary of the Company. ARR owns 100% of the world-class La Paz rare-earth Project, located 170km northwest of Phoenix, Arizona. As a large tonnage, bulk deposit, La Paz is potentially the largest, rare-earth deposit in the USA and benefits from containing exceptionally low penalty elements such as radioactive thorium and uranium. ARR plans to deliver its first Preliminary Economic Assessment for La Paz by 2022 and is working with leading USA research institutions. La Paz’s mineral profile is incorporated into emerging US advanced rare earth processing technologies. In early February 2022, the Company commenced further drilling at the La Paz project to explore lateral and vertical extent in the new southwest area. Approximately 742 – 928 million tonnes of Rare Earths mineralized rocks are identified as an exploration target in the La Paz Rare Earths project’s Southwest area with an average TREO Grade of 350 – 400ppm and Scandium Oxide grade of 20 – 24.5ppm. The new exploration Target is additive to the La Paz Rare Earth project recently upgraded 170MT Resource. in the first half of 2021, In June 2021, ARR acquired the USA REE asset, the Halleck Creek Project in Wyoming. With permits in hand, the maiden exploration drilling program commenced in March 2022 and will provide initial mineralization, lithology and fresh rock core material for metallurgical and process testing. Approximately 308 to 385 million tonnes of rare earths mineralized rocks were identified as an exploration target for the Halleck Creek project area with an average Total Rare Earth Oxide (TREO) grade of 2,330 – 2,912 ppm. Initial surface sampling of the Overton Mountain area conducted in 2018 revealed average TREO values of 3,297 ppm, average Heavy Rare Earth Oxide (HREO) values of 244 ppm, and average Magnetic Rare Earth Oxide (MREO) values of 816 ppm.
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