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Sep 01, 2023

WA1 Resources (ASX:WA1) extends high

WA1 Resources (WA1) has confirmed the receipt of assay results from the latest niobium drill run, proving the high-grade Luni target extends 400 metres east. Results were handed back from the labs for

WA1 Resources (WA1) has confirmed the receipt of assay results from the latest niobium drill run, proving the high-grade Luni target extends 400 metres east.

Results were handed back from the labs for three separate drillholes at the eastern margin of the Luni carbonatite. These results reveal a new intersection 400 meters to the east of the previous easternmost hole.

In total, the company has expanded its high-grade niobium zone to an approximate length of two kilometres.

Results included a 17-metre thick intersection at two per cent niobium within an overall 114-metre thick interval from a 39-metre depth of 0.7 per cent niobium.

The 17-metre read effectively indicates the possibility of a high-grade niobium pocket underground which could be evidence of a larger mineral system. The company’s geotechs will now centre forward drilling activity in this area.

The eastern edge of the Luni prospect has previously logged a 41-metre thick intersection at 2.4 per cent niobium; further assays are expected in the coming weeks.

“These assays provide a new shallow, high-grade zone of enrichment to target between LURC23- 102 (17m at 2.0 per cent Nb2O5 from 40 metres) and LURC23-045 (41 metres at 2.4 per cent Nb2O5 from 43 metres),” WA1 Resources Managing Director Paul Savich said.

“Follow-up drilling will determine how far east high-grade mineralisation extends beyond this location with drilling at Luni continuing to progress well.”

Niobium is a critical mineral that, like many others in its category, is expected to experience significant demand growth in the years and decades ahead.

The primary product derived from niobium ore is Ferroniobium, with niobium pentoxide also in high demand. Niobium can be utilised in various configurations within lithium-ion batteries to enhance battery life and recharge cycle capacities.

It’s worth noting that 90 per cent of global niobium production originates from Brazil, a member of BRICS. In alignment with the United States and Europe, the Australian government has designated niobium as a critical mineral, actively encouraging developers to secure domestic supply.

WA1 shares were down 1.16 per cent, trading at $5.10 at 11:09 am AEST.