Highlights
Newly Identified Niobium & Rare Earth Targets (28 May 2024)
A review of available geophysical data by Southern Geoscience on the Company’s 100% owned, Wabli Creek Project, Yinnetharra WA, has identified a large ovoid intrusive feature/magnetic target (Figure 1).
17.65% Niobium & Exceptional REE Results from In-Situ Source (12 June 2024)
In-situ or bedrock source of high-grade Niobium (Nb) and Rare Earth Elements (REE) discovered during rock chip sampling at Wabli Creek.
The recently identified ovoid late-stage intrusive feature is considered the likely parental source of the Nb-Y-Ta-Ti-REE enriched pegmatites at Wabli Creek.
Geochemistry indicates that a carbonatite association cannot be ruled out in addition to the pegmatites.
The 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)
13.22% Nb2O5, 0.13% Y2O3, 6.27% Ta2O5, 18.97% TiO2, 1.13% TREO (24WRCK046)
Heritage Survey Scheduled at Wabli Creek (18 June 2024)
The Company successfully scheduled its Aboriginal heritage survey at the Company’s 100% owned Wabli Creek Project, Gascoyne W.A. for the week commencing 15 July 2024.
Priority Options Offer and Shortfall (28 May 2024)
In total, 256,746,966 Priority Options were issued, raising in total $256,746 (before costs) under the Offers (Priority Offer and Shortfall Offer).
Reach Resources raised approximately $2.4 million (before costs) following completion of the non-renounceable rights issue (“Rights Issue”), (ASX Announcement 15 April 2024 and 7 May 2024) and the Priority Offer.