- American Rare Earths (ARR) will accelerate its exploration plans to expand and upgrade the current JORC 2021 resource at the La Paz Project in Arizona, US
- The acceleration follows “highly promising” first round assay results from the first 332 samples collected, showing rock type associated with higher rare earth grades
- In-house geologists will continue to review the drill hole data and await assays results from the remaining core holes and says a detailed technical report is expected to follow
- Planning is well underway for this exploration program and the company will update the market once it has finalised drilling permits
- Shares in American Rare Earths are down 9.09 per cent, trading at 25 cents at market close
American Rare Earths (ARR) will now accelerate its exploration plans to expand and upgrade the current JORC 2021 resource following “highly promising” assay results at the La Paz Project in Arizona, US.
The company drilled nine holes, for 821 metres, and collected 677 samples, with the first round of assay results from the first 332 samples demonstrating rock type associated with higher rare earth grades.
Two drill holes showed extensive rare earth enrichment over lengths exceeding 50 metres, a significant result.
CEO and Managing Director Chris Gibbs said the results confirm its exploration target potential and reinforce the company’s strong view that the new mineralised zone has significant potential to expand its current JORC resource.
“An upgrade gives La Paz the potential to be one of the largest rare earths projects in North America,” he emphasised.
Samples were collected and sent to the American Assay Labs in Sparks, Nevada for assay.
In-house geologists will continue to review the drill hole data and await assays results from the remaining core holes and said a detailed technical report is expected to follow.
Planning is well underway for this exploration program and the company will update the market once it has finalised drilling permits.
Shares in American Rare Earths were down 9.09 per cent, trading at 25 cents at market close.