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CuFe Limited
Investor Insight
CuFe Limited’s multi-commodity exposure offers a compelling diversified investment opportunity into high-growth markets.
Overview
CuFe Limited (ASX:CUF) is a multi-commodity exploration and development company with interest in a number of projects situated throughout mature mining jurisdictions in Western Australia and the Northern Territory. The company's value proposition is predicated on its high-grade mature copper/gold project at Tennant Creek as well as its exposure to iron ore, gold and niobium. Its exploration portfolio includes mature copper targets at Tennant Creek and greenfield exploration ground near WA1 Resources' (ASX:WA1) recent niobium discovery.
CuFe’s Tennant Creek project hosts a mineral resource estimate of 10.35 million tons (Mt) at 1.53 percent copper and 0.92 grams per ton (g/t) gold for 159 kt copper and 302 koz gold. CuFe currently owns a 55 percent interest in over 240 kilometres of highly-prospective tenure in the Northern Territory.
The company is progressing a scoping study in collaboration with Emmerson Resources and Tennant Minerals through a strategic alliance focused on establishing a multi-user processing facility and exploring operational synergies in the Tennant Creek region.
CuFe is also evaluating the Yarram project and nearby Camp Creek tenement, both of which benefit from proximity to the Darwin port, enhancing their potential for low OPEX operations.
Company Highlights
- CuFe Limited is an ASX-listed, copper, gold, iron ore and niobium exploration and development company with a multi-commodity portfolio of assets.
- The company's assets are in mature mining regions in Western Australia and the Northern Territory, with access to extensive pre-existing infrastructure.
- CuFe's projects are highly prospective for copper (Tennant Creek, Bryah Basin), iron ore (Yarram, Camp Creek, Robertson Range), gold (North Dam, Tambourah, Nullagine) and niobium (West Arunta).
- Two of these projects have existing JORC resources: Tennant Creek (55 percent CuFe owned) and Yarram (50 percent CuFe owned).
- The company is led by a proven and experienced in-house team with expertise in identification, discovery, evaluation, deployment and operations.
Key Projects
Copper
Tennant Creek
CuFe’s Tennant Creek project is located in the highly prospective Gecko-Goanna copper-gold corridor of the Northern Territory. A mature project comprising three high-grade copper and gold mineral resources, it contains a combined JORC 2012 mineral resource of 10.35 Mt at 1.53 percent copper and 0.92 g/t gold for 159 kt copper and 302 koz gold.
The project benefits from nearby infrastructure including grid power, a gas pipeline, the Stuart highway and rail line to Darwin. The Orlando deposit was recently re-estimated, showing a significant increase of 89 percent in contained copper and 120 percent in gold.
The strategic alliance with Emmerson Resources and Tennant Minerals is currently progressing a scoping study on shared plant options, with further workstreams including mine scheduling, metallurgy, logistics and cost modelling.
Gecko and Goanna deposits are also undergoing re-evaluation to identify resource growth opportunities, with further drilling planned during the 2025 field season.
Bryah Basin JV Projects
JV tenements within Bryah Basin
Through wholly owned subsidiary Jackson Minerals, CuFe holds a 20 percent interest in approximately 800 square kilometres of highly-prospective tenements near the former DeGrussa mine and Doolgunna project. These tenements are under joint ventures and farm-ins with several partners, notably the Morck Well and Peak Hill projects. CuFe is free-carried to a decision to mine.
Gold
North Dam
Located 50 kilometres south-southeast of Coolgardie and near major gold deposits like Wattle Dam and Spargos Reward, the North Dam project is transitioning focus back to gold. Future fieldwork will include geophysical surveys and auger drilling to test gold-bearing east-west structures.
Tambourah
The 100 percent owned Tambourah Tenure contains historic gold workings and known gold-bearing quartz reefs. CuFe’s 2024 review identified potential for high-grade mineralisation, supported by historical drill data and recent sampling results up to 11.9 g/t Au. A field campaign and subsequent drilling are planned in 2025.
Niobium
West Arunta
The 100 percent owned West Arunta project consists of four tenements (E80/5925, E80/5950, E80/5990 and E80/6052) located in the highly-prospective region of the same name. The tenure is known to be prospective for carbonatite-hosted niobium and rare earth element mineralization and has IOCG potential. Spanning roughly 250 square kilometres, it is located approximately 70 kilometres north of several prominent recent discoveries by WA1 and Encounter Resources (ASX:ENR).
Total magnetic intensity (TMI) and location of target areas within E80/6052
CuFe has completed native title arrangements to commence work on the ground and this is expected to occur during the 2025 field work season for the region (April to November). In the meantime Southern Geoscience Consulting has undertaken a geophysical review of publicly available airborne magnetic data for the tenements including re-processing of said data and 3D unconstrained inversion modeling. Analysis of the total magnetic imagery revealed three anomalous areas across the package, resulting in nine target anomalies for further investigation and exploration.
Iron
Yarram
Yarram is a mature iron ore project located just 110 kilometres from Darwin Port. It hosts a high-grade DSO resource of 5.6 Mt at over 60 percent Fe, plus an additional 7.1 Mt of lower-grade ore with beneficiation potential.
Geotechnical and metallurgical studies support its suitability for lump product blast furnace feed. CuFe is investigating near-term production strategies, including low-cost strip mining of the Captain Morgan deposit.
Camp Creek
Recently granted, Camp Creek lies 5 km southwest of Yarram and shares similar logistical advantages. Exploration is planned to follow up on magnetic anomalies and historic iron ore assays that suggest potential for Yarram-style mineralisation.
Robertson Range
Located within the Bryah Basin region, this project is undergoing staged field exploration. Initial rock chip samples showed over 60 percent Fe, and the next phase includes drilling to test continuity at depth.
Management Team
Tony Sage - Executive Chairman
Tony Sage is an entrepreneur with over 36 years of experience in corporate advisory services, funds management and capital raising, predominantly within the resource sector. He is based in Western Australia and has continued to be involved in managing and financing listed mining and exploration companies with a diverse commodity base.
Sage has developed global operational experience within Europe, North and South America, Africa, Oceania, Asia and the Middle East. He is currently non-executive chairman of ASX-listed Cyclone Metals (ASX:CLE) and Executive Chairman of European Lithium (ASX:EUR) and NASDAQ listed Critical Metals (NAS:CRML).
Mark Hancock - Executive Director
Mark Hancock has over 30 years’ experience in key financial, commercial and marketing roles across a variety of industries with a strong focus on natural resources. During his 13 years at Atlas Iron Ltd, Hancock served in numerous roles including CCO, CFO, executive director and company secretary. He has also served as a director on a number of ASX listed entities and is currently a director of Centaurus Metals Ltd and Strandline Resources Ltd.
Hancock holds a Bachelor of Business (B.Bus) degree, is a Chartered Accountant (CA) and is a Fellow of the Financial Services Institute of Australia (F FIN).
David Palmer - Non-executive Director
David Palmer is a geologist and company director with more than 38 years’ experience in the global exploration industry, the majority of his career has been with Rio Tinto Exploration, focused on copper/gold, base metals, industrial minerals, uranium, iron ore,and diamonds throughout Australia and the Asia/Pacific.
Amongst other senior positions, Palmer led the business development, mineral title and indigenous engagement functions and was part of the management team that discovered the world-class Winu Cu-Au deposit. He holds a Bachelor of Science (First Class Honours) from the University of Newcastle.
Scott Meacock - Non-executive Director
Scott Meacock has a wealth of experience as external counsel acting in, and advising on, complex corporate and commercial law transactions and disputes for clients in a wide range of industry sectors including natural resources and financial services.
Meacock currently serves as the chief executive officer and general counsel of the Gold Valley Group. He holds a Bachelor of Laws (LLB) degree and a Bachelor of Commerce (BComm) degree from the University of Western Australia.
Matthew Ramsden - GM Development
Matthew Ramsden is an experienced geologist and project developer commencing his career in Tasmania before stints in the Pilbara with Rio Tinto and Atlas Iron, where he played a key role in the development and ramp-up of six iron ore mines.
He joined CuFe in 2021 to commence the JWD iron ore mine and now has oversight over the company’s exploration and development projects.
Ramsden is a member of the Australasian Institute of Geoscientists.
Siobhán Sweeney - Geology Manager
Siobhán Sweeney brings over 13 years’ geology experience to the CuFe team, from greenfields exploration to resource development with a strong focus on target generation and development of iron ore projects. During her eight years at Atlas Iron, Sweeney was instrumental in developing critical iron ore projects in the Pilbara such as Miralga Creek and Corunna Downs. Her background in managing complex and challenging exploration programs has been key to delivering successful projects.
Since joining CuFe in July 2021, Sweeney has been tasked with developing and implementing mine geology processes during the start-up phase of the JWD mine. Most recently she has delivered a successful exploration drill campaign to further define the Yarram iron ore deposit.
Sweeney is a member of the Australian Institute of Geoscientists and holds a Bachelor of Science degree (hons) in geology from the National University of Ireland Galway.
Multi-commodity exploration and development assets in Western Australia and Northern Territory with a focus on copper, gold, iron ore and niobium.
Environmental Approval for Boland Infield Studies & Update on Scaled Column ISR Test
- Cobra is now completing its programme notification process that will see infield testing commence in mid-October and last for approximately two weeks
- Field tests will provide an infield measure of the rate of permeability achievable through the in-situ recovery ("ISR") process
- A large (55kg) bench scale ISR column study underway at the Australian Nuclear and Scientific Technology Organisation ("ANSTO") is currently achieving exceptional permeability rates of 1.5 metres/day
- The column pH dropped from pH7.0 to pH4.0 in just 48 hours, with first liquor assays expected soon
- Being able to replicate similar permeabilities in a field environment will provide robust, high confidence mining parameters for use with future economic studies
Rupert Verco, Managing Director of Cobra, commented:
"It is pleasing to receive DEM approval that will enable our first field testing. Once the programme notification is fulfilled, the team will mobilise to site to install temporary infrastructure and commence testing.
Initial permeabilities achieved in the large-scale column are exceptionally encouraging and will see Rare Earth Elements being recovered in very short time frames using a low-cost lixiviant. Running these two work programmes in parallel will provide invaluable data that will form the basis for estimating future ISR production rates. We expect recovery results of this in-field test to be reported to the market in the coming weeks."
Follow this link to watch a short video of MD Rupert Verco explaining future field studies relevant to this announcement: https://investors.cobraplc.com/link/P4xdBP
Update on Scaled Column ISR Test
- Percolation of lixiviant through a 55kg ISR column containing a composite sample from three drillholes from across the Boland project has commenced using ~0.3M ammonium sulphate ("AMSUL") at pH3
- Recovery rates of individual REEs will be evaluated during the ISR process, with separate liquors to be collected to evaluate the possibility of producing an MREC from both early stage (pH>4.5) and late stage (pH=3.0).
- In two days, the average permeability rate being achieved is 1.5 metres/day
- The current recovered liquor pH is <4.0; previous columns showed REE recoveries from pH5
- Study anticipated to be completed within a fortnight
- First liquor assays expected soon
Figures 1 & 2: photos of the 55kg column subject to ISR studies currently in progress at ANSTO laboratories
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Further information relating to Boland and these results are presented in the appendices.
Enquiries:
Cobra Resources plc Rupert Verco (Australia) Dan Maling (UK) | via Vigo Consulting +44 (0)20 7390 0234 |
SI Capital Limited (Joint Broker) Nick Emerson Sam Lomanto | +44 (0)1483 413 500 |
Global Investment Strategy (Joint Broker) James Sheehan | +44 (0)20 7048 9437 james.sheehan@gisukltd.com |
Vigo Consulting (Financial Public Relations) Ben Simons Anna Stacey | +44 (0)20 7390 0234 cobra@vigoconsulting.com |
The person who arranged for the release of this announcement was Rupert Verco, Managing Director of the Company.
Information in this announcement relates to exploration results that have been reported in the following announcements:
- Exploration update: "Low-Cost Recoveries from Optimised Testing", dated 11th August 2025
- Exploration update: "Rare Earth ISR System beyond Boland", dated 4th August 2025
- Exploration update: "Favourable Boland Metallurgical Results", dated 21st July 2025
- Exploration update: "Boland Project Update", dated 26th June 2025
- Wudinna Project Update: "Boland Aircore Drill Results", dated 25th February 2025
- Wudinna Project Update: "Further Positive Metallurgy Results from Boland Project", dated 16 December 2024
- Wudinna Project Update: "2nd Bench Scale ISR Study & £1.7M Placing", dated 26 November 2024
- Wudinna Project Update: "ISR Bench Scale Study Completion", dated 4 November 2024
- Wudinna Project Update: "ISR bench scale study delivers exceptional results", dated 1 October 2024
- Wudinna Project Update: "ISR bench scale update - Exceptionally high recoveries with low impurities and low acid consumption; on path to disrupt global supply of heavy rare earths", dated 28 August 2024
- Wudinna Project Update: "ISR bench scale update -Further metallurgical success at world leading ISR rare earth project", dated 11 July 2024
Competent Persons Statement
The information in this report that relates to metallurgical results is based on information compiled by Cobra Resources and reviewed by Mr James Davidson who is Principal at Rendement and a Fellow of the Australian Institute of Mining and Metallurgy (F AusIMM). Mr Davidson has sufficient experience that is relevant to the metallurgical testing which was undertaken to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Davidson consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.
Information in this announcement has been assessed by Mr Rupert Verco, a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Verco is an employee of Cobra and has more than 17 years' industry experience which is relevant to the style of mineralisation, deposit type, and activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves of JORC. This includes 13 years of Mining, Resource Estimation and Exploration.
About Cobra
Cobra Resources is a South Australian critical minerals developer, advancing assets at all stages of the pre-production pathway.
In 2023, Cobra identified the Boland ionic rare earth discovery at its Wudinna Project in the Gawler Craton - Australia's only rare earth project suitable for in situ recovery (ISR) mining. ISR is a low-cost, low-disturbance extraction method that eliminates the need for excavation, positioning Boland to achieve bottom-quartile recovery costs.
In 2025, Cobra further expanded its portfolio by optioning the Manna Hill Copper Project in the Nackara Arc, South Australia. The project contains multiple underexplored prospects with strong potential to deliver large-scale copper discoveries.
In 2025, Cobra sold its Wudinna Gold Assets to Barton Gold (ASX: BDG) for up to A$15 million in cash and shares.
Regional map showing Cobra's tenements in South Australia
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Appendix 1: Background information - the Boland Project and ISR
- The Boland Project was discovered by Cobra in 2023. Mineralisation is ionically bound to clays and organics within palaeochannel sands within the Narlaby Palaeochannel
- Mineralisation occurs within a permeable sand within an aquifer that is saltier than sea water and is confined by impermeable clays
- ISR is executed through engineered drillhole arrays that allow the injection of mildly acidic ammonium or magnesium sulphate lixiviants, using the confining nature of the geology to direct and lower the acidity of the orebody. This low-cost process enables mines to operate profitably at lower grades and lower rates of recovery
- Once REEs are mobile in solution in groundwater, it is also possible, from an engineering standpoint, to recover the solution to surface via extraction drillholes, without any need for excavation or ground disturbance
- The capital costs of ISR mining are low as they involve no material movements and do not require traditional infrastructure to process ore - i.e. metals are recovered in solution
- Ionic mineralisation is highly desirable owing to its high weighting of valuable HREOs and the cost-effective method in which REEs can be desorbed
- Ionic REE mineralisation in China is mined in an in-situ manner that relies on gravity to permeate mineralisation. The style of ISR process is unconfined and cannot be controlled, increasing the risk for environmental degradation. This low-cost process has enabled China to dominate mine supply of HREOs, supplying over 90% globally
- Confined aquifer ISR is successfully executed globally within the uranium industry, accounting for more than 60% of the world's uranium production. This style of ISR has temporary ground disturbance, and the ground waters are regenerated over time
- Cobra is aiming to demonstrate the economic and environmental benefits of recovering ionic HREOs through the more environmentally aquifer controlled ISR - a world first for rare earths
Figure A1: Comparison between the Chinese and the proposed Boland process for ISR mining of REEs
Appendix 2: Metallurgical sample information
Drillhole | From (m) | To (m) | ID | Pr6O11 ppm | Nd2O3 ppm | Tb2O3 ppm | Dy2O3 ppm | Sm2O3 | TREO ppm |
CBSC0006 | 31.15 | 33.05 | CBSC006-comp | 12 | 48 | 1.3 | 8 | 9 | 264 |
CBSC0009 | 25.55 | 26.89 | CBSC009-comp | 53 | 215 | 6.8 | 38 | 50 | 1,261 |
CBSC0010 | 26.00 | 27 | CBSC0010-comp | 151 | 470 | 9.2 | 52 | 76 | 2,999 |
Composite | CBSC00-06+09+10 | 58 | 194 | 4.8 | 28 | 36 | 1,194 |
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Critical Metals Corp NASDAQ CRML Reports Massive Mineralization Extension & Continues Resource Expansion These (3) 2024 Drilling Holes Intercepted Exceptional Rare Earth Elements Grading TREO Range 0.40% to 0.42% & HREO ∼26% Across our Flagship Core Asset Tanbreez in Greenland
- Consistent high-grade rare earth mineralization intersected in all four reported holes, with Total Rare Earth Oxide (TREO) grades between 0.40% and 0.42%.
- High proportion of heavy rare earth oxides (HREO) ~26% of TREO, reinforcing the deposit’s potential strategic value.
- Significant zirconium oxide (ZrO₂) grades of 1.57–1.58% across all holes.
- Gallium oxide (Ga₂O₃) assays between 93–99 ppm, providing a potential additional economic credit.
- All holes drilled vertically (-90°) through sub-horizontal, stratiform kakortokite layers, intersecting mineralisation at approximately true thicknesses.
- Mineralisation remains open at depth in all reported holes.
- Drilling confirms continuity of grade and mineralogy across multiple sections of the Fjord Deposit, consistent with historical data.
- All the drill holes were collared within the Fjord Deposit with 23.6MT @ 0.42% TREO Maiden Mineral Resource.
- The holes are part of the ongoing 2024–2025 Fjord Resource Upgrade program, with over 1900 m drilled to date in 2025 and further assays pending.
Tony Sage, Executive Chairman of the Company, commented:
“These additional 2024 diamond drill hole results indicate the consistent grades of rare earth and gallium, with a high proportion of critical heavy rare earths. Our rare earth grades and gallium concentration, position Tanbreez as a strategically important asset for Western supply chains. With China's control over the rare earth market and gallium, securing sources of these critical minerals has become paramount for U.S. defense capabilities and national security. The progress we've made, with 1,316 meters of diamond core drilling completed in 2024, and over 1,850 meters of drilling as part of our 2025 Fjord Resource Upgrade resource extension program, significantly strengthens our ability to build on our substantial resource base. With further assays pending and more drilling underway, we see strong potential to grow the scale and nature of the project's mineral inventory.”
Summary New Drill Hole Results
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 2 and 3.
| Hole ID | Depth (m) | TREO (%) | HREO (% of TREO) | ZrO₂ (%) | Ga₂O₃ (ppm) | ||||||
| D-24 | 85.70 | 0.42 | 26.3% | 1.58 | 99 | ||||||
| E-24 | 62.30 | 0.40 | 26.5% | 1.57 | 93 | ||||||
| F-24 | 107.45 | 0.40 | 25.5 | 1.57 | 93 | ||||||
| Cut-off | 0.30 |
Table 1 – 2024 New assay results summary for D-24, E-24, F-24
New Drill Hole Results
Drill Hole D-24
Drilled vertically to 85.7m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.42% TREO (including 25.9%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1340ppm Nb2O5 niobium pentoxide,
- 99ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 63m downhole.
Drill Hole E-24
Drilled vertically to 62.3m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.39% TREO (including 26.2%,HREO)
- 1.56% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1330ppm Nb2O5 niobium pentoxide,
- 90ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 61.3m downhole.
Drill Hole F-24
Drilled vertically to 107.45m from surface and intersected high-grade rare earths and metal oxides mineralisation averaging:
- 0.40% TREO (including 25.6%,HREO)
- 1.57% ZrO2 zirconium oxide,
- 100ppm Ta2O5 tantalum pentoxide,
- 1260ppm Nb2O5 niobium pentoxide,
- 93ppm Ga2O3 gallium oxide,
- Mineralisation open at bottom of the hole,
- Mineralisation average from surface to 72m downhole.
Figure 1 - Tanbreez Site Visit August 29 Malcolm Day Director CRML, Greg Barnes JV Partner, George Karageorge CTO, Anna Wingle Tanbreez Mining Greenland
Figure 2 - Fjord and Hill Deposit drill hole locations for 2007, 2010, 2013, 2024 in red with 2025 drill hole collars completed in July with 9 diamond holes awaiting drilling.
Drill Hole Statistics
Drill hole collars and assay Tables 1 and 2 and Figure 1 and Appendix 1, 1A , 2 and 3.
| Hole ID | Depth From | Depth To | Interval | TREO% | HREO% | ZrO2 % | Ta2O5 ppm | Nb2O5 ppm | Ga2O5 ppm | |
| A1-24 | - | 40.00 | 40.00 | 0.48 | 0.13 | 1.86 | 134 | 1513 | 103 | |
| A2-24 | - | 41.00 | 41.00 | 0.51 | 0.14 | 1.96 | 145 | 1685 | 96 | |
| B-24 | - | 58.00 | 58.00 | 0.49 | 0.13 | 1.99 | 144 | 1651 | 101 | |
| C-24 | - | 65.00 | 65.00 | 0.54 | 0.14 | 1.98 | 156 | 1741 | 89 | |
| D-24 | 1.00 | 63.00 | 62.00 | 0.42 | 0.11 | 1.58 | 112 | 1344 | 99 | |
| E-24 | 1.00 | 62.30 | 61.30 | 0.40 | 0.11 | 1.57 | 105 | 1336 | 93 | |
| F-24 | 0.00 | 72.00 | 72.00 | 0.40 | 0.10 | 1.57 | 103 | 1256 | 93 |
Table 2 - 2024 Drill Hole Assay results summary to date 2024 diamond drill hole program in the Fjord Area. Assay results are reported for drill holes D, E and F. A1, A2, B and C were reported on 22 August 2025. Remaining assay results for holes G to Z are expected to be reported in Q3, 2025.
Background – Fjord Deposit Drilling
The 2024–2025 drilling campaign in the Fjord area has targeted confirmatory and step-out holes to:
- Validate historical drilling data.
- Refine the geological model for resource estimation.
- Provide material for metallurgical and environmental test work.
All drill holes in this program are vertical, intersecting the sub-horizontal layers at true thickness. The three holes reported here return TREO grades between ~0.40% and 0.42% with approximately 26% HREO, along with ZrO₂ values of 1.57–1.58% and gallium oxide contents of 93–99 ppm. These results are consistent with historical assays and demonstrate the persistence of grade and mineralogy across the Fjord deposit.
From a deposit classification perspective, the kakortokite-hosted REE mineralisation is best described as stratiform magmatic, confined entirely to the kakortokite unit and not observed in adjacent lithologies such as lujavrite or naujaite. This strong lithological control underpins confidence in resource modelling, supports bulk mining strategies, and provides reliable input for geology domaining.
Given the continuity of mineralization over several kilometres, the Fjord deposit represents a significant portion of the overall Tanbreez mineral inventory. Ongoing drilling is expected to further delineate these resources, with pending assays from additional holes likely to extend the known mineralised envelope and refine the grade distribution.
Sampling over the 2024 diamond holes was taken over kakortokite intervals above the Black Madonna lower boundary.
- Collar data: All collar locations, RLs, azimuths, dips, and hole lengths have been clearly presented in Table 2 of the report.
- Assay data: Table 1 in the report provides the suite of weighted average downhole assay results for TREO, HREO, Ga₂O₃, and other oxides.
- True widths: All drill holes are vertical (-90°) through sub horizontal mineralised layers, so intersections are true widths.
- No cut-off grades or metal equivalents were applied. All assays are reported at face value.
Gallium Results
The gallium oxide Ga2O3 mineralization assay results ranges from low to high is 90ppm to 100ppm for the four 2024 drillholes published to date.
Drill holes that were not assayed for gallium, tantalum and niobium in 2013 will be assayed from existing pulps submitted to ALS Metallurgical in Perth for analysis in the coming months.
ALS laboratories will also assay all sample for gallium for the 2024 and 2025 drill holes with results that will be published in September and October 2025. The gallium oxide results for all diamond holes published to date may add a credit to the TREO-HREO mixed concentrate.
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