14.3% Niobium & 70.3% HREO-Rare Earth Element NYF Pegmatite

Highlights

• Sensational high‐grade results from surface eluvial samples at Wabli Creek, Yinnetharra

  • 14.3 % Nb₂O₅, 6.7% Ta₂O₅, 3689 ppm TREO with 70.3% HREO *
    

• Independent geological experts RSC have advised that the consistent high‐grade niobium and HREO is associated with a ~2.5km long rare element pegmatite swarm identified from historical records at Wabli Creek
  

• Importantly the mineralisation likely extends under cover (Jacobson et al, 2007)
  

• Source of high‐grade niobium and heavy rare earth oxide (HREO) results confirmed as a rare element pegmatite swarm with niobium, yttrium, fluorine (NYF) geochemical signature
  

• Rare element (NYF) pegmatites are characterised by their unusual enrichment of niobium and heavy rare earth elements (HREE), in contrast to clay hosted or carbonatite deposits which predominantly contain light rare earth elements (LREE)
  

• Confirmation of a rare element pegmatite system increases the likelihood of identifying additional high‐grade niobium and HREE which are listed as critical minerals by governments worldwide
  

• Results outlined above follow previously announced high‐grade results from Wabli Creek:

  • 6.78 % Nb₂O₅, 3.71 % Ta₂O₅, 2.57% TREO with 88% HREO (ASX: RR1 Announcement 13/12/22)

  • 32 % Nb₂O₅, 12.4% Ta₂O₅ (ASX: RR1 Announcement 29/11/21)
    

• Historical records show that one tonne of eluvial samarskite** was scraped from one of the pegmatites within the Wabli Creek pegmatite swarm in the 1980’s (no drilling has been undertaken on the tenement). Samarskite is a niobium, yttrium and HREE dominant mineral, further suggesting that this pegmatite swarm could provide a source of high‐grade niobium, yttrium and other HREE such as Dysprosium and Terbium
  

• The RR1 team has mapped the rare element (NYF) pegmatite swarm over 1.5km (Figure 1 & 2)
  

• This type of mineralisation is rare and presents a unique exploration opportunity for RR1

“This is an outstanding result for the Company and builds upon previous high‐grade niobium and HREE results at Wabli Creek. Confirmation that the source of the mineralisation is a rare element (NYF) pegmatite system presents a previously unrecognised exploration opportunity, as NYF pegmatites occur within a granitic matrix as opposed to the established process of exploring for LCT pegmatites in the so‐ called ‘Goldilocks zone”. Whilst there is evidence of small‐scale mining of niobium rich eluvials at Wabli Creek, it appears there was no understanding of the source nor of the significance of a potential NYF pegmatite affinity in terms of HREEs. Consequently, to our knowledge there has been no systematic exploration for thistype of REE mineralisation in the region. What is exciting to our geological team is how we can take these lessons learned and apply them to further identified target areas within this tenement and our larger Camel Hill project.

When we add the Wabli Creek niobium/HREE prospect together with our Morrissey Hill Lithium project, the Yinnetharra region of the Gascoyne is proving to be an amazing potentially mineral rich area for the Company and we are going at it full steam ahead. The Future is within Reach”

Jeremy Bower, Reach Resources CEO