American Rare Earths Identifies Rare Earth Mineralization in La Paz Southwest Exploration

American Rare Earths Limited (ARR) has found compelling evidence of rare earth mineralization in exploration drilling in the southwest portion of the La Paz Rare Earth Project in the US. The company drilled nine holes for a total of 821 meters, yielding 677 core and chip samples that have been sent to the U.S. Assay Laboratory in Sparks, Nevada for analysis.

"Our team will use the data collected to update our interpretations, guide our next exploration phase and work to expand the resources of this exciting project. We look forward to the assay results and are currently planning the next phase," said Chris Gibbs, CEO, and Director.

ARR said drilling data and analysis by the company's geologists point to strong evidence of rare earth mineralization in most of the holes, demonstrating prospective geology believed to be directly related to rare earth element grades.

Chris Gibbs, CEO and Managing Director of American Rare Earths, said, "I would like to thank our team on the ground for their continued hard work at the Arizona site. The information from these holes achieves our primary exploration objective of establishing a geological database in the new southwest portion of the La Paz project."

"Our team will use the data collected to update our interpretation, guide our next exploration phase, and work to expand the resources on this project. We look forward to the assay results and are currently planning our next phase of work."

ARR's U.S. subsidiary, Western Rare Earths, tested seven sections of core in preliminary assays and found high total rare earth oxide (TREO) grades at a depth of 55.5 meters, with some samples (at 96.6 meters) showing TREO grades in excess of 350 parts per million.

ARR already has a 170.6 million tonne JORC resource at La Paz and is actively pursuing a further 700 to 900 million tonnes in new exploration work in the southwest part of the project.

American Rare Earths is the only ASX-listed company with a presence in the US rare earths market following the acquisition of the La Paz Scandium and Rare Earths Project in August 2019. The project has the potential to be the largest rare earth project in North America and contains the existing NI 43-101 resource.

The company is focused on building scale to meet critical U.S. demand and expanded its portfolio in August 2020 to include the Laramie Rare Earth Project in Wyoming.

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