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Field Work Commences on Niobium & REE targets at Wabli Creek



Highlights

  • Field work commences at the Company’s 100% owned Wabli Creek Project, today 18 March.

  • Previous assay results reported (ASX Announcement 21 December 23), following a tenement wide soil survey, identified 16 new strong, coherent Niobium/Rare Earth Element (REE) anomalies that will form the main focus of field work commencing today (Figure 1).

  • The latest results announced on 21 December 2023, demonstrated a significant extension to earlier 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), (Figure 2).

  • The top 3 priority targets which will form the focus of the current field work, potentially 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 & 21 December 2023) (Figure 2)

    • 14.3% Nb₂O₅ (ASX Announcement 1 June 2023 & 21 December 2023) (Figure 2)

    • Rare earth elements:

      • 2.57% TREO (ASX Announcement 13 December 2022) (Figure 2)

  • RR1 plans to undertake systematic mapping and rock chip sampling of any outcropping material during the current field trip.

  • CEO Jeremy Bower and Exploration Manager Steve Vallance are meeting with elders from the Wajarri Traditional Owner group the week commencing 25 March 2024, at the Burringurrah Aboriginal Community, in order to progress heritage surveys.

  • $3.2 million in cash has already been received from Delta Lithium (ASX: DLI), following the Earn in and Joint Venture Agreement executed between RR1 and DLI (ASX Announcement 11 March 2024).


CEO Jeremy Bower said: “We are looking forward to getting back on the ground at Wabli Creek and ground truthing these geochemical targets identified by Sugden Geoscience. Clearly, Niobium and REE are an exciting part of the future battery driven society and we think we have a real opportunity to capitalise on this at Wabli Creek. Following the announcement of our JV with Delta Lithium on our Morrissey Hill and Camel Hill projects and the $3.2M cash injection, this enables us more time to focus on this project and our Payne’s Find Gold project in the Murchison, particularly whilst the gold price is so good.”


The Future is within Reach”




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