Gascoyne Reconnaissance Program Identifies REE Mineralisation

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to report significant preliminary results from handheld XRF testing (pXRF) from a recent reconnaissance site visit undertaken at the Company’s Gascoyne projects.

HIGHLIGHTS

• ¹ Anomalous values of up to 0.31% REE (Y+La+Ce+Pr+Nd Only) at the Company’s Skyline project and 0.11% REE (Y+La+Ce+Pr+Nd Only) at Wabli Creek (Critical Elements project) from pXRF readings
• ¹ Anomalous copper of up to 0.5% and arsenic of up to 0.2%, from the Skyline project
• The Company continues to actively look for additional ground in the Gascoyne which would further expand the Company’s footprint in this highly prospective region
• As a result of the promising preliminary results received, a tenement wide helicopter assisted rock chip sampling and mapping program will commence this week

The brief field trip was undertaken over two days at the Wabli Creek (E09/2377) and Skyline (E09/2646) tenements, to primarily evaluate tenement accessibility and target areas accessible from existing station tracks.

Highlighted target areas were identified from available radiometric and geochemistry data. Access to the Yinnietharra tenement (E09/2354) was not available at the time due to the pastoralist’s mustering activities, so sampling could not be completed at this tenement.

The Skyline project is located ~20km to the east and the Wabli Creek and Yinnietharra projects are located ~80km south of the Hastings Technology Metals Limited Yangibana REE development respectively, which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt (Refer HAS ASX Announcement 27 July 2021).

The Hastings Yangibana REE deposit and recent exploration activities/discoveries made in the surrounding areas by other explorers including Dreadnought Resources, Lanthanein Resources and Kingfisher Mining, reinforces the potential of the region for REE mineralisation.

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