- American Rare Earths (ARR) announces a 33.1 per cent increase for the La Paz Rare Earths Project’s total mineral resource estimate (MRE)
- The Arizona project’s MRE sits at 170.6 million tonnes at 391 parts per million (ppm) total rare earth elements (TREE) for 66.6 million kilograms
- Notably, the indicated portion has increased by 117 per cent from 16.2 million tonnes to 35.2 million tonnes at 382ppm TREE for 13.4 million kilograms
- ARR has a number of exploration plans in the pipeline to grow the project and continue defining the resource while returning value to shareholders
- Company shares are up 16.7 per cent to trade at 9.8 cents
American Rare Earths (ARR) has increased the mineral resources at the La Paz Rare Earths Project in Arizona.
The total indicated and inferred mineral resource estimate now sits at 170.6 million tonnes at an average grade of 391 parts per million (ppm) total rare earth elements (TREE) for 66.6 million kilograms.
The updated resource marks a 33.1 per cent increase from the 2011 estimate which stood at 128.2 million tonnes at 371.7ppm TREE for 47.7 million kilograms. It also represents a 5.2 per cent increase in the estimated grade.
Broken down, both the indicated and inferred portions increased by 117 and 20.9 per cent, respectively.
Specifically, the indicated resource includes 35.2 million tonnes at 382ppm TREE for 13.4 million kilograms. For context, the previous indicated tonnes included 16.2 million tonnes.
Around 135.4 million tonnes sits in the inferred category at an average of 393ppm TREE for 53.2 million kilograms.
Managing Director Keith Middleton was pleased with the results of the resource update.
“ARR is extremely pleased with the results of the La Paz resource update. Seeing a 117 per cent increase in indicated resource tonnage and a 5.2 per cent increase in TREE grade demonstrates the value of our assets at La Paz.
“Our upcoming exploration plans will allow us to grow the project and continue defining the resource while returning value to shareholders.”
It’s also important to note that, according to the company, La Paz is an environmentally sustainable resource with low uranium and thorium grades when compared to its industry peers.
American Rare Earths compiled the resource upgrade using data from 195 drill holes — 112 of which intersected material with TREE grades above 300ppm. This offers the opportunity to increase the depth of rare earth element (REE) resources by drilling deeper holes across the project.
The materials stock will develop phased exploration plans which will include increasing the overall depth of the resource, increasing indicated resources through drilling, various studies and a preliminary economics assessment.
Company shares were up 16.7 per cent to trade at 9.8 cents at 10:30 am AEST.