leadf
logo-loader
viewAmerican Rare Earths Ltd

American Rare Earths appoints new CEO as it progresses US project towards production

Marty Weems brings a wealth of experience with startup leadership and business development skills together with a background in leading presentations for government agencies, capital raisings and investor updates.

American Rare Earths Ltd - American Rare Earths appoints new CEO as it progresses US project towards production
Progress is being made with the world-class La Paz Rare Earth Project in Arizona

American Rare Earths Limited (ASX:ARR) has taken another step towards bringing the La Paz Rare Earth Project in Arizona, USA, to production with the appointment of a new chief executive officer in Marty Weems.

The new CEO brings a wealth of experience to the company, formerly known as Broken Hill Prospecting Ltd (ASX:BPL), with startup leadership and business development skills.

Welcomed to team

This comes with a background in leading presentations for government agencies, capital raisings and investor updates.

Weems, who has a Master of Science (MS) and a Masters of Business Administration (MBA), has been welcomed to the team by chairman Creagh O’Connor.

ARR believes that localising the management and operations in the US, is an important step in ensuring the enhancement of value in the project and company.

Progress at project

Progress is also being made with the world-class project under the direction of La Paz LLC vice president exploration John Petersen as ARR transitions from explorer to developer.

This transformation is in line with the commitment of the US to become more self-sufficient in rare earths supply.

Rare Earth Elements (REE) remain a key US strategic resource, which through its domestic development is designed to provide input for US based processing.

Internal analysis

ARR has completed an internal analysis for the La Paz project which reviews all previous exploration, sampling and assay data.

The subsequent report will bring together the most recent mapping and sampling undertaken in October 2019 through March 2020 to identify various rock types within the resource area.

Once the review has been completed and results validated, the company will release an NI 43‐101-compliant update.

Petrographic analysis of all samples has provided details of the most prolific mineralised rocks containing REE and scandium, which also resides within the mineralised zones.

Improved understanding

With a better understanding of the genesis of the REEs together with the scandium, resource geologists are producing 3D models.

These will provide a pathway to the next steps in planning reverse circulation drill targets to further define the resource within the expanded La Paz mineralised system.

During the March quarter, the company conducted a trenching program between the two mineralisation zones which have been divided by alluvium.

The purpose of this was to reach bedrock from which more samples could be taken and to identify the underlying rock types.

Pending assay returns, the initial identification of rock types shows the potential of linking the original resource to the new expanded locations.

Further work is being undertaken to support the belief that the two zones are one very large mineralised system which significantly adds to the La Paz footprint.

Quick facts: American Rare Earths Ltd

Price: 0.033 AUD

ASX:ARR
Market: ASX
Market Cap: $9.6 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of American Rare Earths Ltd named herein, including the promotion by the Company of American Rare Earths Ltd in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Full interview: Broken Hill Prospecting doubles footprint at Rare Earth...

Broken Hill Prospecting Ltd (ASX: BPL) Managing Director Trangie Johnston joined Steve Darling from Proactive on Skype from Arizona with news the company is going to double the size of the claim on the La Paz Rare Earth Project.  Johnston telling Proactive how they were able to do that...

on 29/10/19

3 min read