PHOENIX, March 05, 2022 (GLOBE NEWSWIRE) -- In a show of bipartisan support for its flagship project, American Rare Earths (ASX: $ARR, OTCQB: $ARRNF, FSE:1BHA) has welcomed a delegation of elected officials from all levels of government to its flagship La Paz project.
Key members of the group of 25 dignitaries delivered enthusiastic and encouraging speeches about American Rare Earths and its work underway to help secure the United States' domestic critical minerals supply chain.
The federal, state and county officials and staff were updated by company geologists on progress across eight diamond drill holes in the La Paz Southwest Project area. The current drill program is targeting a potential 740-930 million tonnes (mt) that could expand the existing JORC resource of 170.6mt.
Steve Trussell, Executive Director of the Arizona Mining Association, said the project would help the state play "a pivotal role" in developing a domestic U.S. supply of rare earths.
"Projects like these matter to Arizona because Arizona has an incredible mineral endowment, and we need to secure a domestic supply of these critical minerals," he said. "We just need to get these projects quickly permitted to supply what we need, so we're not reliant on other countries for these materials. Arizona is a great destination for mining. We are ranked number two globally as an investment-friendly jurisdiction.
"These minerals and the demand for these minerals are going up exponentially. We're part of the transition to renewable energy. And so, without us, I just don't know how we can get there. Having that domestic supply is going to be of paramount importance."
A Vice President at the Arizona Commerce Authority, Jamie Kerr congratulated American Rare Earths on making "a great start" to advancing rare earths production in the U.S.
"American Rare Earths is doing wonderful things. The Commerce Authority is here to assist and help them in any way we can to make their project successful," Mr. Kerr said.
State Representative at Arizona House of Representatives Leo Biasiucci emphasized the importance of La Paz to the region with his optimistic comments. "What's happening here with this huge project … the potential for this is enormous."
"For a very long time," he added, "a lot of people didn't think this would be an area that would grow. That's changing. It's changing a lot of things we are doing at the legislature, lowering the taxes, making this business-friendly, getting rid of some of the regulations, so we get projects like this moving forward."
Following the success of this latest VIP event, Company executive Marty Weems, President North America, American Rare Earths Limited, will speak to several dozen State Legislators about La Paz at an event held with the Arizona Mining Association.
About American Rare Earths
American Rare Earths Limited (ASX: ARR, OTCQB: ARRNF, FSE: 1BHA) has assets in the growing rare earth metals sector of the United States, itself emerging as an alternative international supply chain to China's market dominance of a global rare earth market expected to balloon to US$20 billion in this decade. 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 a wholly-owned, US subsidiary. ARR owns 100% of the world-class La Paz Rare Earth Project in Arizona. The La Paz project area is potentially the largest, rare earths deposit in the USA and benefits from extraordinarily low penalty elements, such as radioactive thorium and uranium. Additionally, since first half of 2021, the company owns 100% of the Searchlight Heavy Rare Earths Project in Nevada and the Halleck Creek Rare Earths Project in Wyoming.
Forward-Looking Statements
This press release contains certain statements that are not historical facts and are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of the words such as "estimate," "plan," "project," "forecast," "intend," "expect," "anticipate," "believe," "seek," "will," "target," or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the Company's plans for exploration, development, production and/or processing of materials, including the timing and associated costs and expenses. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company's future financial results and business.
Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. These forward-looking statements are subject to a number of risks and uncertainties, including the ability of the Company to successfully permit, plan, develop and/or construct a facility to mine, process and/or refine critical minerals, which may be delayed, and related costs and expenses, which may be increased beyond our current estimates; changes in domestic and foreign business, market, financial, political and legal conditions, which may or may not occur; the impact of the global COVID-19 pandemic, on any of the foregoing risks; and those factors discussed in the Company's JORC 2012 compliant technical reports as submitted to the Australian Securities Exchange (ASX). The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.
MEDIA CONTACT: Susan Assadi
347 977 7125 susan@gapr.biz
Related Images
Image 1: Bipartisan Delegation at American Rare Earths La Paz Project
A group of bipartisan elected officials and American Rare Earths staff at American Rare Earths La Paz Project.
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