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December 2022 Quarterly Activities Report



Highlights


Gascoyne Reconnaissance Identifies REE Mineralisation (18 October 2022)

  • Anomalous values of up to 0.31% REE (Y+La+Ce+Pr+Nd Only) at the Company’s Skyline project and 0.11% REE (Y+La+Ce+Pr+Nd Only) at Wabli Creek (Critical Elements project) from pXRF readings

  • Anomalous copper of up to 0.5% and arsenic of up to 0.2%, from the Skyline project

Rare Earth Tenement Applications

  • Acquisition of four prospective rare earth element exploration licences in the Gascoyne Province of Western Australia (Project)


Anomalous Rare Earth Elements Identified in Carbonatites (7 November 2022) Critical Elements Project

  • Significant REE recorded up to 0.68% REE within pXRF results over an area of 200m x 500m at the Critical Elements Project (Wabli Creek), remaining open along strike to the north and south

Skyline Project

  • Carbonatites and associated Ironstone discovered within three target areas at the Skyline Project, returning anomalous results up to 0.11% REE* within pXRF results

  • Anomalous manganese up to 4.3% from the Skyline project identifying another battery metal target for the Company

Outstanding High-Grade Niobium, Yttrium & Dysprosium Assays

  • High-grade assays of 6.78% Niobium oxide and 3.71% Tantalum oxide, returned from within the Company’s wholly owned Critical Elements Project;

  • These results back up the previously reported assay results from rock-chip samples of 32% Niobium oxide and 12.4% Tantalum oxide

  • Assay results confirm Niobium rich target zone with a potential Total Rare Earth Oxides (TREO) strike length of up to 1.5km

  • Assays further highlight the discovery of high grade critical heavy rare earth oxides (HREO) which include:

o 7226 ppm Yttrium oxide

o 3430 ppm Dysprosium oxide

o 4880 ppm Ytterbium oxide o 2760 ppm Erbium oxide o 450 ppm Terbium oxide

  • Significantly, all three of the Company’s granted tenements have returned highly anomalous TREO results >500ppm to a maximum of 25,652 ppm or 2.57% TREO




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