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December 2023 Quarterly Activities Report



Highlights

High Grade Manganese up to 48% Mn at White Castles Project (4 October 2023)

  • High grade manganese mineralisation confirmed with rock chip samples reporting assays of up to 48% Mn, at the Company’s White Castles project in the Gascoyne, W.A.

  • Potential for over 50km of continuous strike indicated from sampling results across the project area.

Initial Drilling Confirms Lithium System (13 November 2023)


  • Phase 1 drilling confirms the Bonzer Prospect to host an extensive package of multiple, thick, stacked highly fractionated and fertile pegmatites with the potential to host significant lithium mineralisation

  • Detailed analysis of the results by consulting geochemist, Sugden Geoscience, confirms the Bonzer pegmatite system to be lithium bearing, highly fractionated and indicative of a spodumene pegmatite type based on specific geochemical ratios and fractionation trends

Phase 2 Drilling Increases Scale at Morrissey Hill (15 December 2023)

  • Phase 2 Drilling commenced on 20 November 2023. On 15 December 2023 Reach announced that it had significantly elevated the scale of lithium potential at Morrissey Hill with drilling confirming the presence of multiple, thick, stacked pegmatites1 within a previously unrecognised package of the Leake Springs Metamorphics, at Morrissey Hill South.

  • The Leake Springs Metamorphics sequence are the same rock units which host Delta Lithium’s (ASX: DLI), Malinda and Jamieson Lithium Projects, located immediately east and west respectively of Morrissey Hill.

  • Locating this sequence at Morrissey Hill South, is significant for the project as the Leak Spring Metamorphics had previously been interpreted to exist only within the northern third of the Morrissey Hill project area.

  • Results from this part of the Phase 2 Drilling campaign are expected in early 2024.

Multiple new Niobium & REE Targets at Wabli Creek (21 December 2023)

  • Assay results from a tenement-wide soil survey have identified 16 new strong, coherent Niobium/Rare Earth Element (REE) anomalies at the Company’s 100% owned Wabli Creek Project.

  • The results demonstrate a significant extension to the previously reported Niobium/REE targets identified at the north-western margin of the project area within tenement E09/2377 (ASX Announcements 01 June & 28 June 2023).

  • The top 3 priority targets define a semi-continuous arcuate zone of strong anomalism extending over 4km’s which may reflect a common source/tectono-stratigraphic control.

  • Highly anomalous rock chip results previously reported include,

    • Niobium:

      • 32% Nb₂O₅ (ASX Announcement 1 June 2023)

      • 14.3% Nb₂O₅ (ASX Announcement 1 June 2023)

    • Rare earth elements:

      • 2.57% TREO (ASX Announcement 13 December 2022)





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