WA1 Resources’ Luni Niobium Asset Gains Major Project Status

WA1 Resources (ASX:WA1) said its flagship Luni niobium project has received major project status.

The designation from the Australian government highlights Luni’s national significance and its potential to strengthen the country's economy. WA1 said major project status also provides case management and coordinated access to the federal government through the Department of Industry, Science and Resources’ Major Projects Facilitation Agency.

The minister for industry and innovation has granted the status to Luni for an initial period of three years.

“The scale and grade of Luni make it the most important niobium discovery globally in the past 70 years and deserving of its place as a project of national significance,” commented WA1 Managing Director Paul Savich.

The company released an initial resource estimate for Luni in July 2024, describing it as “the most significant niobium discovery in more than 70 years." At the time, its inferred resource was 200 million tonnes at 1 percent niobium pentoxide.

The project was discovered in November 2022 during WA1's first drill program in West Arunta.

Since the initial resource estimate came out, WA1 has upgraded 46 percent of Western Australia-based Luni's contained niobium to the indicated category from within two key high-grade zones.

According to the company, that provides a "strong basis" for development studies.

On November 17, the company published assay results from infill drilling at Luni, with results including 67.3 metres at 5.4 percent niobium pentoxide, including 30 metres at 9.8 percent niobium pentoxide from 77 metres.

“Activities at Luni have expanded and diversified, including the construction of further pre-development siteworks to support detailed studies, which are set to culminate in the delivery of important project milestones in 2026,” Savich said.

The company said it is expecting to update Luni’s resource estimate in 2026.

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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.