20 May 2021Acquisition of High-Grade Rare Earths Element (REE) Project in Nevada, near Mountain PassHighlightsThe Company has secured a new high-grade Rare Earths Elements (REE) exploration project, the Searchlight REE Project, located in Nevada, near the USA’s only operating rare earths mine operated by MP Materials Corp.The Project consists of 80 contiguous unpatented lode mining claims, prospective for rare earths, totaling 1620 acres (656 ha) staked by the Company in early 2021One sample contains significant high levels of Heavy REE and Magnetic REE, including a total REE of 14,800 ppm (1.48% REE)These claims are 100% owned by Western Rare Earths (WRE), a wholly-owned US subsidiary of ARRMP Material Corp. Mountain Pass rare earths mine, the only operating rare earths mine in the USA, is located approximately 19 miles (35 km) west of the Searchlight REE project areaAn initial geological review and sampling program at the Searchlight REE Project was conducted, and 10 surface geochemical samples collected with elevated REE grades identifiedSystematic surface sampling and geological mapping planned, and high-resolution aerial imagery and LiDAR planned to follow up initial high-grade results QUOTE This acquisition now very positive IMO
https://www.mining.com/mp-materials-enters-magnet-supply-deal-with-general-motors-build-factory-in-texas/
