- WA1 Resources (WA1) shares skyrocket upon the discovery of a mineralised carbonatite system at the Pachpadra prospect area in the West Arunta project in WA
- The discovery was found at the P2 geological target with best results reaching up to 1.22 per cent niobium pentoxide
- Managing Director Paul Savich calls the discovery the first of its kind in the region, a significant finding from its maiden drilling program and an exciting result
- The company will submit individual samples for each metre of the hole to the laboratory for assay in Perth, with results to be reported in a future announcement once received
- Shares in WA1 are up 296 per cent and trading at 53.5 cents at 2:41 pm AEDT
WA1 Resources (WA1) shares have skyrocketed upon the discovery of a mineralised carbonatite system at the Pachpadra prospect area in the West Arunta project in WA.
The drill program comprised of seven holes for a total of 1745 metres to provide an initial test of two target zones at the Pachpadra Prospect (P1 and P2) and one target zone at Sambhar (Luni).
The discovery was found at P2 with a result of 54 metres at 0.62 per cent niobium pentoxide, 0.18 per cent total rare earth oxide (TREO) and 3.85 per cent phosphorous pentoxide ending in two metres at 1.22 per cent niobium pentoxide, 0.22 per cent TREO and 5.73 per cent phosphorous pentoxide.
Anomalous zinc and lead values were also noted in select intervals.
Managing Director Paul Savich called the discovery an exciting result, especially after finding high grade mineralisation on the first hole.
“The discovery is the first of its kind in the region and is a significant finding from its maiden drilling program,” he said.
“With the knowledge that we are in a mineralised carbonatite system, we will assay single metre splits for the entire hole.
“Over the coming months we will collate a comprehensive dataset from the drilling program and plan follow-up exploration activities.”
The company will now submit the individual samples for each metre of the hole to the
laboratory for assay in Perth, with results to be reported in a future announcement once received.
Shares in WA1 were up 296 per cent and trading at 53.5 cents at 2:41 pm AEDT.