PHOENIX, Jan. 31, 2023 (GLOBE NEWSWIRE) — American Rare Earths (ASX:ARR | OTCQB:ARRNF | FSE:1BHA) has identified potential new rare earth deposits and recently completed 118 patent-free federal grants. Submitted a mining claim. The new claim at County Line Prospect adds approximately 2,113 acres to the growing Halleck Creek Rare Earth District in Wyoming, bringing the total area under management to 8,165 acres. This is a 26% increase in gross billings within the region.
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New county line prospects increase district mineral management by 26%
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The claim added 2,113 acres for a total of 8,165 acres.
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Detailed exploration activities planned for early spring when the snow clears
Melissa Sanderson, recently appointed president of North America Business, said: This is a strategic project of great importance to our country, of great importance to our national security, and to ensure that 100% of our supply chain remains within the United States, ensuring future demand for these highly valuable magnetic rare earth materials. can help meet most of the ”
“Also, what makes Halleck Creek unique is its very low penalty elements of thorium and uranium, which are often associated with rare earth projects. As we strive to decarbonize our planet, we need rare earths for our future energy needs, electric vehicles, wind turbines and our daily lives. It is very important that we source our products from within the United States, but more importantly, we do it in a way that is good for the environment and environmentally friendly. ,” said Sanderson.
With the addition of the County Line, ARR has a sizable footprint that includes rare earth-rich prospects within the region. Since acquiring the property in 2021, the company has significantly increased its mining concession and now includes seven of his project areas throughout the Halleck Creek area.
Managing Director and Chief Executive Officer Chris Gibbs said: The district has now grown to an area about 5 miles (8 km) wide and 5 miles (8 km) long.
“Our immediate focus is on establishing significant JORC resources with recently completed drilling in the Overton and Red Mountain regions. To illustrate the situation, the current drilling program only covers areas with less than 18% of the total claim covering rare earth mineralization.”
ARR geologists plan extensive geological mapping and surface sampling of the County Line area, Trail Creek area, and Somers Flat area in late Q1/early Q2 2023, weather and ground conditions permitting. increase. This mapping and sampling provides direction for the long-term development of the Halleck Creek Rare Earth District.
This market announcement has been approved for market release by the Board of Directors of American Rare Earths Limited.
Mr Chris Gibbs
Representative Director and President
Competent person statement:
The information in this document is based on company work conducted in November 2022. The style of mineralization and type of deposit under consideration and the activities he undertakes to qualify as a qualified person as defined in his 2012 JORC Code. Mr. Kinnes agrees to include issues in the report based on the format and context in which the information is presented.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Results or industry performance that are materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. These statements are subject to a number of risks and uncertainties, many of which are outside the control of American Rare Earths Limited.
At the same time, this press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. , resources, grades and other mineralization characteristics, and drilling and exploration methods that may be utilized in potential exploration of the Company’s projects. When used in this press release, the terms “may”, “plan”, “indicate”, “expect”, “intend”, “hope”, “believe”, “may”, “will” The words “if”, “if”, “possible”, “anticipate” and similar expressions are intended to identify forward-looking statements. However, not all forward-looking statements contain such specific language. These statements involve known and unknown risks, uncertainties and the fact that our actual results, performance or achievements may differ materially from any future results, performance or achievements expressed or implied by such statements. Other possible factors are included. Such factors include, inter alia, uncertainties in the estimation of mineralization materials and mineral resources, risks to forecast and estimation economics that do not reflect actual economic consequences due to uncertainties in the mining process, Includes potential unevenness, potential mining hazards and accidents. changes in equipment and labor costs; projected changes in mineral prices and demand; competition in the mining industry; risks associated with project development decisions; the inherently hazardous nature of mining-related activities; risks associated with legal proceedings, liquidity risks and the uncertainty of the availability of capital on favorable terms and factors discussed in the Australian Securities Exchange filings. The forward-looking statements contained in this press release are made only as of the date of this release. We undertake no obligation to publicly update any forward-looking statements, except as required by law. We cannot guarantee that projected results or events will be achieved.
Note to US Investors
The U.S. Securities and Exchange Commission (“SEC”) limits disclosure for U.S. reporting purposes to deposits that a company can economically and legally mine or produce and that comply with SEC Industry Guide 7. Some or all of the proposed projects contain mineral deposits that will be converted into resources in the future, or have inferred mineral resources or measured and indicated resources, or economic or legal Don’t assume it’s minable. The proposed project does not contain any known proven or inferred deposits or mineral resources that comply with SEC Industry Guide 7 reporting standards. Investors are advised to carefully review the disclosures contained in the Company’s most recent reports filed with the ASX.
About Rare Earths in America:
American Rare Earths Limited (ASX: ARR, OTCQB: ARRNF, FSE: 1BHA) is an Australian company listed on the ASX and cross-listed in the United States and Germany. As an alternative international supply he chain to China’s market dominance in the global rare earth market, which is expected to expand to US$20 billion by the mid-2020s. The company’s mission is to supply essential materials for a renewable energy, green tech, electric vehicle, national security, and carbon-reduced future.
American Rare Earths, one of the only ASX-listed companies tapping into the rapidly expanding US market, is developing wholly owned magnetic metal projects in La Paz, Arizona and Halleck Creek, Wyoming. increase. Both have the potential to be the largest rare earth deposits in North America. The company is simultaneously evaluating other exploration opportunities while collaborating with US government-supported research and development to develop sustainable domestic supply chains for a renewable future.
Media contact:
Susan Asadi
sassad@americanrareearths.com.au
Figure 1 – Halleck Creek County Line area claim
Media snippets accompanying this announcement are available by clicking the image or link below.
