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Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to advise that assay results from the latest field program at Wabli Creek have identified a primary source of high grade Nb/REE mineralisation previously only found in surface eluvial samples on site (Figure 2).
HIGHLIGHTS
- In-situ or bedrock source of high-grade Niobium (Nb) and Rare Earth Elements (REE) has been discovered during the latest program of rock chip sampling at Wabli Creek, Gascoyne, W.A.
- The recently identified ovoid late-stage intrusive feature (ASX Announcement 28 May 2024) is considered the likely parental source of the Nb-Y-Ta-Ti-REE enriched pegmatites at Wabli Creek. Further, geochemistry indicates that a carbonatite association cannot be ruled out in addition to the pegmatites.
- This 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)
- These outstanding results have been chipped straight off bedrock (in-situ) and hold similar concentrations to the previously reported high grade weathered surface material (eluvial samples previously reported 32% Nb2O5 and 2.57% TREO -ASX Announcement 21 December 2023). Importantly, the in-situ assay results taken straight from the bedrock were taken approximately 0.5km from the historically reported 32% Nb2O5.
- The majority of the ovoid intrusive feature most prospective for Nb-Y-Ti-REE mineralisation (the margin zone), is poorly exposed and remains under-explored.
- Detailed airborne magnetic and radiometric surveys recently acquired are currently being interpreted by Southern Geoscience to identify and refine key priority targets for further exploration.
- The Company is actively progressing its heritage discussions with the Native Title custodians of the land and will return to site for additional sampling in the short term.
Most importantly, these latest high-grade assay results (17.65% Nb2O5 and 13.22% Nb2O5) confirm that the hard rock source material holds the same or similar high-grade concentrations as the weathered surface material (eluvial material), previously reported by the Company (32% Nb2O5 and 2.57% TREO - ASX Announcement 21 December 2023). Further, the in-situ samples have been chipped straight off the bedrock (in-situ) approximately 0.5km from the previously reported sample returning 32% Nb2O5.
Figure 1: Large black rock fragments chipped directly from the in-situ granitic pegmatite outcrop, Wabli Creek, Gascoyne, W.A (Sample – 24WRCK046).
Located in the highly prospective Gascoyne Province of Western Australia, approximately 150km north of Gascoyne Junction, the Wabli Creek project has previously reported high grade niobium and TREO eluvial results up to 32% Nb2O5 and 2.57% TREO (ASX Announcement 21 December 2023).
These latest in-situ results, in addition to the large ovoid intrusive feature (ASX Announcement 28 May 2024), provide a fundamental change in the prospectivity at Wabli Creek.
Figure 2: High grade assay results from granitic pegmatite collected at the margins of the late stage, ovoid intrusive feature, Wabli Creek, Gascoyne, W.A (24WRCK046 & 24WRCK049), including historical results approximately 0.5km away reporting 32% Nb2O5 (ASX Announcement 21 December 2023).
During the Company’s current program, a total of 49 rock chip samples were taken from Wabli Creek (E09/2377), during May 2024. Sampling was focused on the Priority 1 geochemical targets outlined by Sugden Geoscience (ASX Announcement 21 December 2023).
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RR1:AU
Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra
HIGHLIGHTS
- High grade copper‐oxide mineralisation (malachite) confirmed at the Company’s Morrissey Hill Project, Yinnetharra with rock chip samples reporting highly encouraging assays of up to 33.2% Cu; 0.2 g/t Au and 141.8g/t Ag. (Figure 1).
- Results follow Morrissey Hill assays of up to 2.3% Li2O (ASX Announcement 15 May 2023).
- Mineralisation at the Swallowtail Copper Prospect was mapped over a strike length of at least 150m and remains open in all directions.
- Significant results include:
- 33.2% Cu, 0.2g/t Au and 141.8g/t Ag (23RRRK0039).
- 14.7% Cu, 0.02g/t Au and 55.6g/t Ag (23RRRK0042).
- 4.2% Cu, 0.3g/t Au and 5.7g/t Ag (23RRRK0041).
- 2.3% Cu, 0. 2g/t Au and 5.0g/t Ag (23RRRK0043).
- Historical sampling 3.0km’s west of Swallowtail could potentially extend the strike with historical results returned:
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- 18.5% Cu, 1.1g/t Au and 6.8g/t Ag
- The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation.
- Morrissey has never been drilled & geochemical surveys planned to commence next week.
Commenting on the results CEO Jeremy Bower said:
“The Morrissey Hill tenement at our Yinnetharra Project continues to deliver. These are outstanding copper results and in conjunction with the 2.3% Li20 announced earlier this week, it is clear how prospective the ground is. We’re focused on sourcing the critical and battery minerals of the future and copper is an important part of our strategy. Despite several world class copper‐gold and polymetallic base metal deposits in the East Capricorn Orogen, the West Capricorn and Gascoyne has been massively under‐ explored. We see this as a huge opportunity.
Importantly, we are fully funded to complete our field programs and drilling campaigns earmarked for this year. Our focus remains on thorough geochemical assessment of each target and getting drill rigs out to Morrissey Hill as soon as possible. This will mean consistent news flow for our shareholders over the coming months.”
FIGURE 3: Morrissey Hill showing location of the Swallowtail Prospect along Stringer Fault line
FIGURE 4: Regional location of Reach Yinnetharra projects
The rock chip results confirm the Company’s targeting methodology and the potential of the area to host significant mineralisation. Systematic surface geochemical surveys including soils, stream sediment and rock chip sampling are planned to commence immediately. Results from this work will guide follow up programs which if warranted may include electromagnetic geophysical surveys and drill testing of priority targets.
The results were reported from an outcropping quartz‐veined gossan, the Swallowtail Prospect, showing visible malachite (copper‐oxide) over a strike length of approximately 150m. The gossan strikes east‐ west, appears to dip steeply towards the south and remains open in both directions. A single historical sample located some 3.0km’s west of Swallowtail, and within the same structural corridor, also reported high grade copper, gold and silver assays indicating a potential strike length of the target zone in excess of 3km’s (Refer to Figure 3).
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This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Multiple New Lithium (LCT) Pegmatite Targets Confirmed
HIGHLIGHTS
- Independent geological experts RSC consultants have identified four priority target areas for Lithium-Caesium-Tantalum (“LCT”) Pegmatites within the Company’s Critical Elements Projects, located in the centre of the rapidly developing Gascoyne “Battery Metals” Province, WA
- Each of the target areas are associated with confirmed fertile parental granites of the Thirty Three and Durlacher Supersuites and contain the same metasedimentary sequences which host Red Dirt Metals (ASX: RDT) Yinnetharra Lithium Project, less than 10 km’s to the NE of Reach Resources’ tenure
- All of the targets are defined by favourable geology, multi-element pathfinder geochemistry and the presence of mapped Geological Society of Western Australia (GSWA) Tin, Tantalum and Lithium pegmatites
- A helicopter supported field reconnaissance program has been initiated to assess the priority areas in more detail
- Drilling of priority targets is scheduled to commence in CY Q3/4 2023 once all regulatory approvals are received
CEO Jeremy Bower commented:
“RSC’s independent expert analysis confirms our belief that our landholding in the Gascoyne has the potential to host significant battery metal deposits.
Phase 1 of the assessment focused on the lithium potential at our Critical Elements Projects and has not only cemented Morrissey Hill as our primary lithium target but importantly has identified three new lithium target areas. Each of the areas are defined by the presence of a highly fertile parent granite and supported by key multi-element geochemistry including lithium, caesium, tantalum, tin and rubidium which are all well documented associations of lithium bearing “rare metal” LCT pegmatite mineral systems.
This is an exciting time for the Company and our shareholders, and we look forward to delivering updates to the market over the coming months. The Future is within Reach”.
Phase 1 of the assessment focused on the lithium potential of the Company’s Critical Elements Projects which includes the newly acquired Morrissey Hill and Camel Hill projects as well as the Wabli Creek project (Figure 1).
Figure 1: Critical Elements Projects
The assessment included a review of relevant deposit models and mineralisation styles of interest, regional and local geology, local mineral systems, academic papers, open file company and government reports and all available geochemical, geophysical and remote-sensed data sets.
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This article includes content from Reach Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
High Grade Gold Trenching Program and Reassessment of Shuttered Gold Mines – Central Queensland
- A follow-up trenching program has been planned at the Big Red Gold Project, Queensland.
- Previous trenching at Big Red returned high grade gold results including 9m @ 5.9g/t Au, with gold mineralisation remaining open along strike.
- Interpreted strike length over Big Red currently exceeds 450m with probable further concealed extensions beneath sandy loam surficial cover.
- The Company’s Gold projects are located in the Drummond Basin in central Queensland – an under- developed region with a long history of ongoing gold mining region with an endowment of over 8.5 million ounces.
- A reassessment of two shuttered open pit gold mines within QXRs ground has commenced as these mines were last operated when the gold price was less than A$500/oz.
- QXR has numerous gold and copper-gold targets which will be developed towards further drilling leading to potential production scenarios with updated permitting guidelines.
High Grade Gold in Trenches at Big Red Project
Gold trenching is planned to extend current high grade gold results in trenches at the Disney-Big Red Project (ASX announcement 1 Nov 2021). Two elongate gold anomalous zones were defined over 650m and may extend up to 1200m long. Best historic trench results from hard rock at the base of trenches at Big Red were:
- Trench 1 - 9m @ 5.9 g/t Au within a mineralised zone 35m wide. Large zone 80m @1.2 g/t Au
- Trench 2- 3m @ 2.2 g/t Au within a mineralised zone 13m wide. Large zone 28m @ 1.8 g/t Au
- Trench 4 - 2m @ 23 g/t Au with a mineralised zone 7m wide. Large zone 32m @ 1.7 g/t Au
These results produced a drill ready target, but that drill program was delayed twice due to weather and soft ground (ASX announcement 13 July 2021, 31 April 2022). Further trenching is planned to extend the current zone of high-grade gold mineralisation prior to a drilling program over a number of shallow targets. The Company believes the potential of Big Red may be similar to nearby Twin Hills deposit with 1.0Moz (23.1Mt@1.5g/t Au) incl 49m @5.2g/tAu and Lone Sister 0.48Moz (12.5Mt@1.2g/t Au) incl. 28m @45.2g/t Au (c.f. ASX:GBZ announcement 5 Dec 2022, 28 Apr 2023, 9 Jun 2023)
Reassessment of Open Pit Gold Mines
A reassessment of the potential of past open pit gold mines is underway. The two open cut mines, Belyando and Lucky Break, were closed when gold was less than A$500/oz. Drilling data by QXR and previous explorers shows potential exists for down dip extensions to known gold mineralised zones and parallel features, as well as extensions along strike.
QXR Managing Director, Stephen Promnitz, said: “QXR has excellent potential for a gold discovery at Big Red in Queensland, which will be followed-up in the planned trenching program and followed later by a drill program, previously delayed due to inclement weather. Nearby closed open pit gold mines were operating at much lower gold prices and show potential for future production as part of a reassessment of their potential.”
Next Steps
Trenching
A new program of trenching at Big Red Project (Disney) is an initial phase to extend two north-east trending elongate zones previously encountered in QXR trenches with high grade gold results occurring over a strike length of 650 metres. The zones may potentially be up to 1200m long based on past soil sampling and geophysics (magnetic low zones within magnetic highs). Mineralised widths included 9m @ 5.9 g/t Au in trenches (ASX announcement 1 Nov 2021, 16 Feb 2022). Quartz breccias show textures similar to gold producing zones elsewhere in the region.
Figure 1: Big Red (Red Dog) Project –Past trenches; quartz breccias; area of past trenches (yellow rectangle) and planned extensions (orange rectangle)
Drill targets
Revised drill targets will be generated from the trenching results, merged with geophysical data. These results produced a drill ready target, but that drill program was delayed twice due to weather and soft ground (ASX announcement 13 July 2021, 31 April 2022).
Resource models
Updated resource modelling for Belyando and Lucky Break have been commissioned. Both mines show potential exists for down dip extensions to known gold mineralised zones and parallel features, as well as extensions along strike.
Background
QXR holds nearly 100,000 hectares of leases in the Drummond Basin of central Queensland – an under- developed region with a long history of ongoing gold mining region with an endowment of over 8.5 million ounces (1). Gold mineralisation is largely related to intrusives into the region with the largest producer – Pajingo (ex-Newmont) having produced 3.4 Moz since 1986 and was instrumental in the creation of gold miner Evolution when they purchased the mine from Newmont (Newcrest).
The QXR leases show potential for epithermal gold and porphyry related copper gold deposits and include two historical open pit gold mines, Belyando and Lucky Break, that were last producing when the gold price was under A$500/oz. QXR holds 85,800 Ha of exploration leases on a 100% basis and 11,500 Ha (70%QXR) in a JV with private company, Zamia Resources.
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This article includes content from QX Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Further MOU Extension with Aleees and NT Government
Parties have now agreed a revised project development timeline below:
The MOU builds on the ongoing project development workstreams undertaken by Avenira, Aleees and the NT government. The extension is valid until 30 June 2025.
Avenira continues to pursue the LFP battery manufacturing project following the completion of a positive Scoping Study3, which demonstrated the strong economic and technical viability of the project.
Under the September 2022 announcement, a tripartite non-binding MOU was signed whereby Avenira, Aleees and the NT Government would work towards the development of a LFP battery cathode manufacturing facility, with the NT Government assisting and advising where appropriate in relation to necessary infrastructure including water, energy, power, telecommunications, road, port and rail access and service requirements.
This agreement has been extended to 30 June 2025 to allow the NT Government to continue to provide Aleees and Avenira with support through to the completion of the next stage studies.
Commenting on the extension of the MOU, Avenira’s Charman and Chief Executive Officer, Brett Clark, said:
“The MOU extension demonstrates the continuing support of the Northern Territory Government and Aleees with this significant LFP cathode project in Darwin.”
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This article includes content from Avenira Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Substantial High-Grade Lithium Achieved Following Completion of Drill Hole 1 at Rio Grande Sur
HIGHLIGHTS
- Drillhole 1 (DDH-1) at the Maria Magdelena tenement of the Rio Grande Sur Project, has completed with substantial high grade intercepts of lithium brine discovered at depths as low as 557m.
- High-grade assays include the following intervals:
- 629mg/L (“milligrams per liter of Lithium”) from an interval of 512.75m to 518m
- 620mg/L from an interval of 115.5m to 117.5m
- 611mg/L from an interval of 258.25m to 260.25m
- 608mg/L from an interval of 495.25m to 497.25m
- 607mg/L from an interval of 369.25m to 371.25m
- Importantly, these grades over 600mg/L which were all discovered at depth are beneath the currently calculated mineral resource estimate and are expected to add to its size and grade.
- With completion of DDH-1, the crew is in the process of relocating to Sal Rio II to commence Drillhole 2 (DDH-2).
- The Stage 1 Drill Program is targeting resource growth to the existing inferred JORC resource of 251.3kt LCE @ 351mg/L1.
In relation to the progress of DDH-1 at the RGS Project, Pursuit Managing Director & CEO, Aaron Revelle, said:
“The results from DDH-1 are substantial as we demonstrate the world class potential of the Rio Grande Sur Project. With completion of DDH-1, we are continuing the important advancements we have made in our understanding of the RGS Project mineralisation, with the results continuing to demonstrate the potential large scale of the project. With outstanding high grade brine intercepts of ~600mg/L at depths of 115.5m and those grades continuing to ~520m, the project is exceeding our expectations.
“We continue to progress with permitting for the drilling program in the north of the Rio Grande Sur Project, which we intend to include in our Stage 1 program works as we target a substantial mineral resource upgrade. This is in addition to works at our Lithium Carbonate Pilot Plant which remains on track to produce our first Lithium Carbonate in the coming months, with Pursuit advancing off-take discussions with multiple requests for product samples from potential off-take partners.”
High-Grade, Deep Depth Lithium Brine Assay Results
DDH-1 of the Stage 1 drilling program completed on site at the Rio Grande Sur Project in mid-June 2024 having reached a depth of 560m.
Throughout the drilling of hole 1, the on-site geologists and drilling team have been extremely encouraged by the geological units encountered across the depths of the hole. Of particular interest, at a depth of approximately 100-130m, a highly porous sandy unit was encountered with Lithium brine grades substantially above expectation, based on historical drilling results. This zone has been earmarked as the potential location of a pumping well due to its heightened porosity and average grade of 620mg/L. As drilling continued to depth, DDH-1 continued to deliver exceptional grades averaging above 600mg/L and the presence of good quality, porous and permeable sands.
Table 1 – Lithium Assays, Interval Data and Drillhole Collar
Intercepts from DDH-1 have shown highly favourable geology in line with, and exceeding expectations from historical drilling (to depths of 50m) carried out on the Rio Grande Salar. Lithium brine sample grades from the sampling of the hole are averaging above 600mg/L against the average grade of 351mg/L used to develop the current Mineral Resource Estimate (“MRE”). Additionally, the mineralisation extended to a depth of ~560m also well below the depth used to develop the MRE1.
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This article includes content from Pursuit Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
