- WA1 Resources (WA1) confirms near-surface niobium enrichment at the Luni discovery within its West Arunta project in WA
- The company has received single-metre assays from drilling completed last year that include three metres at 3.1 per cent niobium from 167 metres in the first hole
- The same drill hole also encountered total rare earth oxide values of up to 2.4 per cent, as well as tantalum grading 814 parts per million
- WA1 Resources will further explore the Luni discovery to determine its significance and will also drill at the P2 carbonatite and several other untested anomalies
- WA1 shares are up 4.73 per cent to trade at $1.77 at 11:45 am AEDT
WA1 Resources (WA1) has confirmed near-surface niobium enrichment at the Luni carbonatite within its West Arunta project in Western Australia.
The company has received single-metre assays from reverse circulation drilling at the Luni discovery which is part of the Sambhar prospect.
Key results include 19 metres at two per cent niobium, including seven metres at 3.5 per cent niobium from 40 metres, in one hole and 26 metres at 0.9 per cent niobium from 153 metres, including three metres at 3.1 per cent niobium from 167 metres, in another.
This second hole also indicated a potential mineralised zone with elevated rare earth values of up to 2.4 per cent total rare earth oxide and up to 814 parts per million tantalum in a previously unassayed portion.
WA1 said the results had confirmed the intersection of a mineralised carbonatite unit, with “highly elevated” niobium, TREO, tantalum and phosphorous mineralisation encountered.
Based on the downhole intersections and available geophysics, the intrusion is believed to extend over at least 1.3 kilometres.
“Our 2022 drill program set out to determine the source of three significant geophysical anomalies in a truly greenfields belt and included three holes at the Luni discovery,” Managing Director Paul Savich said.
“However, rather than simply determining the source of the geophysical anomalies, all three holes at Luni have returned very high-grade niobium drill intersections.”
The company will now undertake follow-up exploration to determine the significance of the Luni discovery. It will also conduct follow-up drilling at the P2 carbonatite and several other untested anomalies.
WA1 shares were up 4.73 per cent to trade at $1.77 at 11:45 am AEDT.