Reach Resources

Amended - EV Vision Enhanced

In accordance with Listing Rule 5.7 and the JORC Code, this amended announcement includes JORC Table 1 (sections 1 and 2), in reference to the helicopter reconnaissance rock chip sampling program that was completed.


Further, a visual estimate has been included as the announcement refers to ‘outcropping manganiferous material’ within the body of the announcement under the header ‘Highlights and exploration summary’ and refers to the photo at Figure 2. Accordingly, additional information has been included under this header and also below Figure 2 in accordance with ASX and AIG guidance. Lastly, a summary of the 91 samples is included at Annexure 0.1.

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce it has entered into a binding tenement sale agreement to acquire tenement E09/2543 from Firebird Metals (ASX: FRB). The tenement acquisition consolidates ground already held by Reach in an area highly prospective for manganese and rare earths. The low cost acquisition (A$110,000) is payable via the issue of ordinary shares in Reach Resources.

HIGHLIGHTS

  • Reach acquires tenement E09/2543 from Firebird Metals (ASX: FRB).
  • Tenement E09/2543 adjoins existing Reach tenure and expands the manganese and rare earth prospectivity of the Company’s assets by ~25%.
  • Reach continues to acquire ground focused on the growing battery market.
  • High-grade rock chips up to 18% MnO2 at neighbouring Reach tenement E09/25391.
  • Significant land holding now held by Reach, right in the middle of Hastings and FMG.
  • Low cost acquisition payable entirely in Reach shares (A$110k).

Figure 1: Location of newly acquired tenement E09/2543

1 ASX Announcement 13 February 2023

Manganese is recognised as a critical mineral by the Office of the Chief Economist (Australian Government Department of Industry, Innovation and Science). Further, a White House document (June 2021) states that manganese use in battery cathodes may result in the metals preferred element emergence in next generation battery cells, due to its ‘relative safety’ and ‘having by far the most stability’.

Figure 2: Manganese outcropping – Tenement E09/2543

Note 2:

1. The nature of the mineral occurrence: Massive stratiform/supergene manganese mineralisation hosted within sediments of the Ullawarra Formation.

2. Identify the minerals observed: The Manganese minerals observed are limited to a suite of manganese oxides, hydroxides, carbonates, and silicates. The outcrop as shown displays all of the characteristics which typify manganese mineralisation, i.e jet black in colour, surficial and concentric supergene coating/banding, massive stratiform layering, extremely fine grained with high specific gravity and likely contains iron in addition to manganese.

3. Estimate of abundance: Manganese is observed as per 2 above. Managanese ores are extremely fine-grained microscopic mixtures of several different manganese minerals. The manganese content of the material sampled based on visual examination ranges between 10% and 30% by volume.

4. Anticipated timing of assay results: Assay results are expected in October 2023.

Cautionary Statement: Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations.

Jeremy Bower CEO commented:

“Whilst primarily used in the steel industry as an alloying agent to improve hardness, strength and resitence to corrosion, the Electric Vehicle revolution is here and manganese is a key component in the production of lithium-ion batteries. The Company remains entirely focused on our Morrissey Hill lithium project, but it’s important that we continue to consolidate our tenure in highly prospective areas, with a focus on the EV market. This low cost acquisition is right in between some big players in Hastings and FMG and we are very interested in manganese generally and the role it will play over the coming years.”


Click here for the full ASX Release

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.

RR1:AU
Reach Resources Limited

Reach Resources Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Reach Resources Limited

Reach Resources Limited


Keep reading...Show less
Reach Resources

Quarterly Activities/Appendix 5B Cash Flow Report

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) provides its activities report for the quarter ended 30 June 2023.

Keep reading...Show less
Reach Resources

Outcropping Copper Gossan Delivers 33% Cu Assays At Morrissey Hill Project, Yinnetharra

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce that it has received high grade copper, gold and silver results up to 33% copper, 0.2g/t gold and 142g/t silver from its recently completed rock chip sampling program at the Company’s Morrissey Hill Project, Yinnetharra, W. A (Refer to Figure 4).

Keep reading...Show less
Reach Resources

Reach Resources’ Strategic Position Between Two of WA’s Mining Heavyweights

Reach Resources’ (ASX:RR1) strategic position with its Morrissey Hill project has placed the critical mineral explorer on the radar of two of Western Australia’s mining giants Delta Lithium (ASX:DLI) and Minerals 260 (ASX:MI6), according to an article published in The West Australian.

Keep reading...Show less
Reach Resources

Multiple New Lithium (LCT) Pegmatite Targets Confirmed

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) engaged globally renowned geological consultants RSC Consultants Limited (RSC) to assess the potential of the Company’s Gascoyne projects for:

  • Lithium (Li): hard rock, high grade LCT Pegmatites
  • Rare Earth Elements, Heavy and Light (HREE; LREE): clay/hard rock hosted
  • Manganese (Mn): high grade strata bound, supergene, and• Precious and base metals (Au; Ag; Cu-Pb-Zn)
Keep reading...Show less
Star Minerals

Positive Scoping Study for Tumblegum South

Star Minerals Limited (ASX: SMS, “the Company” or “Star Minerals”) is pleased to present the range of outcomes of a Scoping Study for open-pit mining and third-party toll treatment of the Tumblegum South gold deposit (“Tumblegum South” or “the Project”) which is located approximately 40km south of Meekatharra in the Murchison district of Western Australia.

Keep reading...Show less
Maiden Drilling Program at Ti-Tree Completed

Maiden Drilling Program at Ti-Tree Completed

Augustus Minerals (ASX: AUG; “Augustus” or the “Company”) is pleased to advise of the completion of its maiden drilling campaign at its 100% owned Ti-Tree project in the Gascoyne region of Western Australia.

Keep reading...Show less
  Emu NL

EMU Records Gold Assays to 36.1 g/t - Georgetown, Queensland

EMU NL (ASX: EMU) (“EMU” or “the Company”) is pleased to release gold assay results from its maiden reconnaissance field survey conducted during July and August 2023 at the Georgetown Project in Queensland.

Keep reading...Show less
Investing News Network Creates A Global Platform with Regional Editions

Investing News Network Creates A Global Platform with Regional Editions

The Investing News Network (INN), a leading source of independent news and educational content for investors, is pleased to announce the integration of InvestingNews.com.au into InvestingNews.com, its flagship publication.

Since 2019, InvestingNews.com.au has been INN's hub for Australia-focused content, and the company is excited to merge this website with InvestingNews.com. This strategic decision allows users to access all INN's content through one streamlined website, and marks a significant milestone in the company's long-term commitment to serving a global audience.

Keep reading...Show less
Carbonxt Group

Successful Completion of $0.6M Placement

Carbonxt Group Limited (Carbonxt or the Company) is pleased to announce that it has successfully raised$0.6m (before costs) through the placement (“the Placement”) of 10m new fully paid ordinary shares at an issue price of $0.06 (“Placement Shares”). The Placement Shares will be issued under the Company’s available placement capacity as per ASX Listing Rule 7.1 and 7.1A on 18 December 2023.
Keep reading...Show less
  Rewards Minerals Limited

Reward Executes Binding Share Sale Agreement to Acquire the Beyondie SOP Project

Reward Minerals Limited (ASX: RWD) (Reward or the Company) is pleased to announce that it has entered into a binding share sale agreement (Share Sale Agreement) with the Receivers and Managers (Receivers) of Kalium Lakes Limited (Administrators appointed) (Receivers and Managers appointed) (ASX: KLL) ACN 613 656 643 (Kalium) to acquire the Beyondie Sulphate of Potash (SOP) Project (Beyondie Project) on a debt-free basis, free of encumbrances for total consideration of A$20 million, comprising a A$250,000 exclusivity payment previously made (see ASX announcement dated 16 November 2023), upfront cash consideration of $14.75 million and deferred cash consideration of $5 million by 30 June 2025. See the Schedule for further details.

Keep reading...Show less
Reach Resources Limited

Reach Resources Limited Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×