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Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to provide an update on the Company’s high-grade Niobium and REE project at Wabli Creek, Gascoyne, W.A.
HIGHLIGHTS
- Identification of a fine-grained alkaline igneous rock type as the host of the high grade Niobium/REE/Titanium mineralisation announced 28 May 2024. This is a significant development as the host is not from pegmatite geology and increases the likelihood of a carbonatite association.
- Expert geophysical consultant Southern Geoscience has identified multiple new targets they consider high priority for the potential discovery of more Niobium/REE enriched intrusive features at Wabli Creek, Gascoyne, W.A.
- Detailed geophysical imagery analysed by Southern Geoscience shows a strong correlation with geochemical targets, previously identified by Sugden Geoscience (ASX Announcement 21/12/23), adding additional confidence to high-grade Niobium (Nb) and Rare Earth Elements (REE) targets.
- The majority of the new Nb & REE targets identified are located in and around the margins of the ovoid intrusive feature (ASX Announcement 28 May 2024).
- The recently identified ovoid late-stage intrusive feature, considered the likely parental source of the Nb-Y-Ta-Ti-REE fine grained Alkaline igneous rocks at Wabli Creek, has been clearly confirmed by the high resolution imagery.
- The latest interpretation by Southern Geoscience was primarily concerned with the identification of places which may provide further intrusive features prospective for Niobium, Tantalum, REE’s and Lithium. Targeting strategies focused on lithological associations, structural context, structural complexity and deformation and proximity to possible source granitic bodies.
The source of the high grade niobium, REE, titanium mineralisation outlined in ASX announcement 28 May 2024 has most recently been identified by the Reach exploration team as a fine grained alkaline igneous rock. This is a significant development for the project as it was considered previously that the mineralisation was from a pegmatite source. Importantly, the alkaline igneous rock has a strong association with carbonatite and therefore further laboratory assessment is underway to confirm the potential presence of carbonatite material.
Figure 1: Multiple new high priority Niobium/REE targets, Wabli Creek.
Figure 2: Location of In situ assay results (24WRCK049 & 24WRCK046), previously announced per ASX Announcement 12 June 2024. Also, an example of one of the new high priority Nb/REE targets.
In addition, Southern Geoscience was engaged to analyse detailed 50m line spaced magnetic and radiometric data that was flown over the tenement. The analysis of this data by Southern Geoscience enabled this latest interpretation of major structures, including faults and traps that may act as conduits for potentially more fine grained alkaline igneous intrusions, resulting in multiple new targets for the Company.
Targeting by Southern Geoscience was largely focused around the margins of the late stage ovoid feature and aimed to identify sites of significant structural complexity and or/lithological contacts which may be exploited by dykes or other intrusive features such as the alkaline igneous mineralised rock.
Across the targets a major shear zone with cross-cutting faults over printed by the late stage ovoid feature was identified, in addition to the identification of two areas that more represent more late stage intrusives and a layered magnetic unit of potential greenstone lithology which is often an area where dykes intrude.
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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.
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 Tungsten Discovery at Western Queen
Highlights
- Recent diamond drilling has discovered exceptionally high-grade tungsten (scheelite) mineralisation within the Western Queen gold system
- Drill-hole WQDD013 returned:
- 4m @ 4.58% WO3, 0.72 g/t Au from 174.85m; including
- 2.05m @ 8.71% WO3, 1.38 g/t Au from 176.85m; and
- 0.65m @ 18.35% WO3, 2.97 g/t Au from 176.85m
- Strong continuous tungsten anomaly outlined over 2km from drillhole XRF data parallels the Western Queen Shear and known high-grade gold mineralisation
- Tungsten occurs at surface between the Western Queen South and Western Queen Central open pits with widths up to 20 metres
- Follow up wet assays for tungsten of selected pulps from RC drilling which formed part of the 2021 mineral resource estimate at Western Queen have been submitted and will be reported when available
- Tungsten is considered a critical and strategic material in world economies due to its economic importance, supply risk and limited substitution options
In addition to the assaying, ultraviolet scanning of the diamond core from WQDD013 has highlighted scheelite within altered mafic. The mineralisation is essentially scheelite-pyroxene +/- magnetite+/-gold skarn zones 2.1Mt @ 2.42 g/t Au for 163,200oz 1
Figure 1 shows the white-blue fluorescence characteristic of scheelite under ultraviolet light. Mineralisation comprises of massive aggregates of white (visible light) grains (up to 5mm) of scheelite paralleling the dominant foliation within the shear zone.
Figure 1 – WQDD013 (0.65m @ 18.35 WO3) scheelite intersection under UV light*Analysis by pXRF is indicative and may not represent the true grade of tungsten
Of great significance is the subsequent review of all of the pXRF data routinely collected by Rumble which has shown tungsten is widespread within the Western Queen gold mineralising system.
Peter Harold, Managing Director and CEO commented“the discovery of the very high-grade tungsten at Western Queen is an unexpected bonus for us from the recent drilling which was targeting extensions to the high-grade gold lodes. While it is very early days the grades of the intersections are exceptional and well above the grades of other tungsten resources globally. We are now waiting with trepidation for the results from the 2021 drill pulps. This discovery shows the huge optionality of the Rumble tenements and the ability of our highly experienced exploration team to make new discoveries.”
Western Queen Tungsten Discovery
Tungsten mineralisation within drill hole WQDD013 (refer to Table 1) returned a spectacular intersection that included:
- 4.05m @ 4.58% WO3, 0.72 g/t Au from 174.85m; including
- 2.05m @ 8.71% WO3, 1.38 g/t Au from 176.85m; including
- 0.65m @ 18.35% WO3, 2.97 g/t Au from 176.85m.
Mineralisation contains large aggregates of scheelite grains (up to 5mm) occurring parallel to the main foliation trend. The mineralisation is essentially multiple scheelite-pyroxene (tremolite)+/-magnetite+/-gold exoskarn zones associated with the Western Queen orogenic shear zone (host to gold mineralisation) within dominant Archaean mafic amphibolite lithologies. The skarn development is thought to have been a later stage to the main gold event at Western Queen.
All previous drill holes completed by Rumble as part of the 2021 Western Queen gold resource estimate (2.1Mt @ 2.42 g/t Au for 163,200oz*) have subsequently been analysed for tungsten (W) by pXRF. Review of the pXRF analytical data has shown some 87 reverse circulation (RC) and diamond drill (DD) holes completed by Rumble have reported >500ppm W. Analytical results from pXRF analysers are indicative and may not reflect the true tungsten (W) grade.
Contouring of the pXRF tungsten (W) drill hole results has highlighted the following (refer to Figure 3):
- Very strong tungsten continuity over 2km (>100ppm W contour) with the same strike direction, orientation and position as the Western Queen Shear Zone which hosts the Western Queen gold deposits; and
- Between the Western Queen Central and Western Queen South open pits, the tenor of tungsten increases significantly with some 900m of strike >1000ppm W.
Additionally, a number of drill holes were strongly anomalous in tungsten (W) near surface within oxidised material
Next Steps
Re-assaying of select pulps from the previous Rumble gold resource drilling programs based on the pXRF tungsten analyses is underway to ascertain the spatial variability and tenor of the scheelite mineralisation. Up to 250 pulps from selected RC and diamond holes drilled by Rumble will initially be collected and submitted for wet analysis utilising complete digest through fusion XRF.
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This article includes content from Rumble 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.
Airborne VTEM commences at Ti-Tree Project
- The VTEM Max survey over Cu-Ni-PGE, Broken Hill Style and Uranium targets has commenced.
- The survey is covering:
- The Money Intrusion, prospective for Cu-Ni-PGE mineralisation.
- Copper Ridge and Nick’s Bore over anomalous Copper Drilling results.
- The Coo Creek prospect where drilling by Augustus in 2023 identified strongly anomalous Zn-Pb-Ag mineralisation of possible Broken Hill Style massive sulphide.
- The Munaballya Well area which shows potential for economic uranium mineralisation.
- The surveys will help to advance the untapped potential of the Ti-Tree project to host economic mineralisation of multiple commodities.
VTEM
UTS Geophysics is conducting the helicopter borne VTEM Max survey comprising 646-line km over three separate survey areas. The system is excellent for locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity which helps map structure, alteration and rock type. The system also collects magnetic data through a caesium magnetometer.
Figure 1 Prospects and VTEM Survey areas
Money Intrusion
The Money Intrusion, which has proven potential to host Ni-Cu-Co-PGE (platinum group elements), is part of the regional Mundine Well Dolerite Suite, a regionally extensive dolerite (strike length >80km). Mapping, aeromagnetics and multi-spectral imagery show that the Money Intrusion within the Ti-Tree Project covers a strike length greater than 16km, reaching widths >600m in the north (Figure 2).
The VTEM Max system will look to identify conductive anomalies which may reflect concentrations of massive to semi-massive sulphide along the thicker parts of the Money Intrusion within AUG tenure.
This article includes content from Augustus 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.
Allup Acquires 100% of McLaren Valuable Heavy Mineral Sands Project, West Eucla Basin, WA and Conducts Placement
Highlights
- Advanced Valuable Heavy Mineral Sands (VHMS) project in WA has an indicated and inferred JORC Resource (2012) of 280Mt @ 4.8% Heavy Mineral near surface
- Project comprises 333 sq km of tenements, 150km east of Norseman in the mining-friendly jurisdiction of Western Australia.
- Potential for expanded MRE by including results not in current resource extended, plus extended mine life through additional drilling.
- Ilmenite, a key titanium mineral, is priced well above international silica and kaolin prices at more than US$300/t1 due to increasing titanium shortages.
- Strong ilmenite market demand expected to continue due to supply deficits and mine closures in Kenya, South Africa, and Mozambique
- Allup plans to focus on a lower-cost Capex design to fast-track mine development and produce a bulk concentrate.
- Allup will advance PFS and BFS for McLaren with infill drilling, and metallurgical and mineralogical evaluations, to confirm project economics.
- Placement of $360,000 to raise working capital.
McLaren Project, WA
McLaren VHMS Project (E69/2388 and E69/2386) comprises 333km2, located on the western side of the Eucla Basin, adjacent to the Fraser Range in Western Australia (Figure 1).
McLaren is an advanced-stage exploration project with an indicated and inferred Mineral Resource estimate of 280Mt @ 4.8% Heavy Mineral for 13.5Mt in-situ HM completed in 2022.
Allup Silica Managing Director Andrew Haythorpe said: "This Project presents an excellent opportunity for Allup Silica to fulfill its plan of moving into production. Albeit a different sand, the mining and washing processes for ilmenite are similar to silica sand, as well as the near-surface mineralisation and low strip ratios. However, the higher product price and lower shipping volumes present a compelling opportunity for development.
Because of the previous work completed and the increasingly high value of titanium minerals, this opportunity presents a faster and higher confidence pathway for Allup Silica and its shareholders. The ground is accessible in all seasons of the year, allowing for more rapid progress. Infill drilling and further metallurgical work is planned to commence as soon as practicable so that we can advance a Pre-Feasibility Study and move onto a Bankable Feasibility Study for the project."
Figure 1: Location of McLaren Valuable Heavy Mineral Sands Project
Acquisition Consideration for 100% of the McLaren VHM Project
The Company has agreed to pay the following consideration:
- A$150,000 in cash for 100% of ELs
- Allup grants a 1.5% Royalty to the vendors (Westover Holdings Pty Ltd and Wild Side (WA) Pty Ltd)
- Allup will issue 2m options exercisable at 20c on or before 5 years from issue, with consideration of
- $0.001 per APS share, with a vesting condition being completion of a Bankable Feasibility Study and the Ilmenite concentrate sales exceeding US$500/t from the Project
- 4,241,571 shares upon completion of the Pre-Feasibility Study (PFS); (PFS Milestone) and
- A further 4,300,583 shares will be issued upon completion of a Feasibility Study (FS Milestone).
The PFS Milestone is satisfied upon completion of a Pre-Feasibility Study on commercially viable terms and other criteria that the Parties agree in writing.
In the event that the PFS Milestone is not achieved within 24 months, the Parties agree to enter into good faith negotiations for a period of 5 business days with a view to agree an alternative basis on which the PFS Milestone Shares (or any part thereof) may be issued to the Vendors.
Subsequent to the PFS Period, the Purchaser agrees to use all reasonable endeavours to conduct a Bankable Feasibility Study in respect of the Tenements.
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This article includes content from Allup Silica 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.