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17.65% Niobium & Exceptional REE Results From In-Situ Source at Wabli Creek Project




Highlights

  • In-situ or bedrock source of high-grade Niobium (Nb) and Rare Earth Elements (REE) has been discovered during the latest program of rock chip sampling at Wabli Creek, Gascoyne, W.A.

  • The recently identified ovoid late-stage intrusive feature (ASX Announcement 28 May 2024) is considered the likely parental source of the Nb-Y-Ta-Ti-REE enriched pegmatites at Wabli Creek. Further, geochemistry indicates that a carbonatite association cannot be ruled out in addition to the pegmatites.

  • This ovoid intrusive feature is younger than the surrounding country rock, with a diameter in excess of 3km’s and a circumference greater than 8km’s.

  • Granitic pegmatite is now confirmed as a primary source of mineralisation with in-situ assay results including:

    • 17.65% Nb2O5, 0.15% Y2O3, 10.81% Ta2O5, 31.39% TiO2, 0.37% TREO (24WRCK049)

    • 3.22% Nb2O5, 0.13% Y2O3, 6.27% Ta2O5, 18.97% TiO2, 1.13% TREO (24WRCK046)

  • These outstanding results have been chipped straight off bedrock (in-situ) and hold similar concentrations to the previously reported high grade weathered surface material (eluvial samples previously reported 32% Nb2O5 and 2.57% TREO -ASX Announcement 21 December 2023). Importantly, the in-situ assay results taken straight from the bedrock were taken approximately 0.5km from the historically reported 32% Nb2O5.

  • The majority of the ovoid intrusive feature most prospective for Nb-Y-Ti-REE mineralisation (the margin zone), is poorly exposed and remains under-explored.

  • Detailed airborne magnetic and radiometric surveys recently acquired are currently being interpreted by Southern Geoscience to identify and refine key priority targets for further exploration.

  • The Company is actively progressing its heritage discussions with the Native Title custodians of the land and will return to site for additional sampling in the short term.


“This is a significant breakthrough for the Wabli Creek project.


It was not known whether the hard rock source material would hold the same or similar concentrations as the previously reported surface eluvium samples, however taking rock chips directly from the hard rock insitu material and returning similar grades up to 17% Nb2O5, plus high grade REE and Titanium is extremely promising.


The recent identification of the late stage intrusive by Southern Geoscience showing the margins coincident with the geochemical targets adds weight to the theory we may have more high-grade material to discover.


Initial geochemistry indicates that the late stage intrusive has an alkali signature and is on the same continuum as a carbonatite, so further work is planned to investigate whether we also have a carbonatite source in addition to these rare earth pegmatites. We have now engaged Southern Geoscience to interpret detailed geophysical data covering the project area designed to pinpoint more pegmatites beneath cover.”


Reach CEO, Jeremy Bower





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