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THE FUTURE IS WITHIN REACH
Named after Thomas Payne who discovered gold and pegged the first lease in 1911. After discovering gold at Pansy lease in June 1911, Thomas Payne wandered north-west about 2 kilometres, and discovered more gold at what would become the Carnation lease.
There has been activity on the field to some degree from 1911, with increased activity in the late 1930’s. At this time around 500 people were prospecting or mining gold in the area. Reports up to World War Two indicate it was a rich field. Between 1911-1982 69 000 tonnes of ore had been mined for 63 000 oz of gold averaging 25 g/t.​
THE FUTURE IS WITHIN REACH
Reach Resources is focussed on critical minerals and has accumulated a tenement package that is well located in the emerging Rare Earth/Lithium hot Gascoyne region. Reach Resources is uniquely positioned amongst junior explorers where it holds exposure to the downstream arm of rare earth processing with its shareholding in REEcycle the Rare Earth magnet recycling technology and has the potential to fund its exploration activities with further development of its gold resource at Payne’s Find, which represents a safe hedge to hold in the market.
Skyline REE Project
The project is located in the Gascoyne Province of Western Australia and consists of 100% owned exploration licence EL 09/2646, covering an area of ~247 square kilometres and a recently acquired exploration licence application E09/2733 both of which are immediately adjacent to Hastings Technology Metals Limited (ASX: HAS “Hastings”), Yangibana REE development which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt.
REEgenerate is an Australian private company that owns 100% of REEcycle Inc (“REEcycle”), a US based Rare Earth Element (REE) separation and technology Company focussed on recovering REE from high powered permanent NdFeB magnets. REEgenerate also owns 100% of the Coconut Club REE exploration project in Quebec, Canada. Reach Resources made a $1.8m strategic investment into REEgenerate Pty Ltd (“REEgenerate”), acquiring 10% of REEgenerate Pty Ltd. Reach is extremely excited about the direct exposure in this company, whose future is aligned with current global social and political thinking of a cleaner, greener future through the circular economy principle.
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