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Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to outline a significant extension to the Niobium/REE targets following an external review from Sugden Geoscience on soil assay results, from its 100% owned Wabli Creek Project.
HIGHLIGHTS
- Assay results from a tenement-wide soil survey have identified 16 new strong, coherent Niobium/Rare Earth Element (REE) anomalies at the Company’s 100% owned Wabli Creek Project.
- The results demonstrate a significant extension to the previously reported Niobium/REE targets identified at the north-western margin of the project area within tenement E09/2377 (ASX Announcements 01 June & 28 June 2023), (Figure 1).
- Multiple new targets identified across both Wabli Creek tenements (E09 2377 – Wabli Creek) and (E09 2748 – Wabli Creek North) (Figures 2 & 3).
- The top 3 priority targets define a semi-continuous arcuate zone of strong anomalism extending over 4km’s which may reflect a common source/tectono-stratigraphic control.
- Highly anomalous rock chip results previously reported include, Niobium:
- 32% Nb2O5 (ASX Announcement 1 June 2023) (Figure 1)
- 14.3% Nb2O5 (ASX Announcement 1 June 2023) (Figure 1)
Rare earth elements:
- 2.57% TREO (ASX Announcement 13 December 2022) (Figure 1)
- None of the targets have been previously drill tested.
- RR1 plans to undertake systematic rock chip sampling, mapping and drilling in 2024, once all regulatory approvals, including heritage surveys, are obtained.
Tenements E09/2377 (Wabli Creek) and E09/2748 (Wabli Creek North) together comprise the Wabli Creek Project area (Figures 2 & 3).
Located in the highly prospective Gascoyne “Battery Metals” Province of Western Australia, the soil assay results outline multiple strong, coherent geochemical anomalies indicative of Niobium, REE and Lithium mineral systems.
A total of 1,489 soil samples were taken across the two tenements. Sampling was generally conducted along 200m to 100m spaced lines with a 100m to 50m sample spacing, to assess the potential extent of the high-grade Niobium/REE occurrence identified in the northwest of E09 2377 (ASX Announcement 01 June and 28 June 2023), and to further assess the broader potential of both tenements.
Refer to Annexure 1 for a summary of significant soil results and Annexure 2 for all soil results.
Results from the soil survey were interpreted by the Company’s Consulting Geochemist, Sugden Geoscience. A total of 16 priority targets ranked from 1 to 4 have been identified (below), for further evaluation, which will include rock chip sampling, mapping and ultimately drill testing.
The assay results have clearly identified a significant extension to the high-grade Niobium/Rare Earth Elements (“REE”) target previously identified which has returned results up to 32% Nb2O5, 14.3% Nb2O5 and 2.57% Total Rare Earth Oxides (“TREO”) (ASX Announcement 1 June 2023).
Jeremy Bower CEO commented:
“We are excited to announce that our large-scale soil survey has confirmed a significant extension to the high-grade Niobium/REE target near the western margin of tenement E09/2377.
Not only have we had an expert geochemist identify a large extension to the previously reported high grade Niobium and REE up to 14.3% Nb2O5 and 2.57% TREO, we now have targets on a separate second tenement in the Wabli Creek project area (Wabli Creek North).
It is important to understand that the target area is substantial, and with multiple new targets with strong multi-element pathfinder geochemical signatures across both tenements (Wabli Creek and Wabli Creek North), the scale of prospectivity across the tenure is very compelling.
We remain committed to undertaking a methodical approach to our assessment, with every stage designed to refine our final targets ahead of drill testing.
The Future is within Reach”
Figure 1: Previous rock chip results & mapping at Wabli Creek (ASX Announcement 28 June 2023)
Figure 2: Large Nb target extension from previous work and spread to a second Company tenement at Wabli Creek North, Yinnetharra, W.A. Rock chips have been previously reported.
Typical geochemical “fingerprints” for these styles of mineralisation are as follows:
- Niobium: Nb, Zr, Ta, Hf, F, Y, Th, U, REE
- Rare Earth Elements: TREO
- Lithium- LCT Pegmatites: B, Be, Cs, Ga, Hf, K, Li, Mn, Nb, P, Rb, REE’s, Sn, Ta, W & Zr
(Note: Elements displayed in bold are the main commodity elements)
Given the similarities of pathfinder element signatures for each of these deposit styles and spatial patterns, a weighted sum was calculated to identify and rank targets which included the main commodity and the relevant supporting elements. The targeting study was undertaken by Sugden Geoscience using the levelled weighted sum and RR1’s soil and, where available, historical rock chip data. Weighted sum modelling is a method based on prior knowledge concerning the mineral system(s) of interest. It is an industry accepted procedure recognised as being a simple and practical way of combining multi-element geochemical data to focus on a particular metallogenetic and/or geochemical association.
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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.
Copper Porphry Potential Grows at Georgetown Project
Highlights
- High grade copper veins have developed adjacent to a copper porphyry system at Fiery Creek prospect, within the Georgetown Project in Queensland
- High-grade copper assays of up to 23.5% Cu
- Mineralogy review strongly supports the presence of a shallow, constrained significant copper mineralised porphyry system
- Geochemistry favourably compares to similar geologically aged projects including Mount Leyshon, Kidston, Red Dome and nearby Mt Turner
- Copper mineralised zone of the Fiery Creek porphyry system is interpreted to lie close to surface
- Outcropping vein areas indicative of pencil porphyry type systems as documented at North Parkes and Ridgeway, NSW
- Extended geochemistry sampling program underway at Fiery Creek with planned detailed geologic mapping activity
- Geophysics survey (pole dipole, IP, resistivity, MT) scheduled for August 2024
Emu Non-Executive Chairman Peter Thomas commented,
“Emu is increasingly confident the Fiery Creek prospect has the makings of a massive multi- million-tonne copper porphyry system. In addition to Mr Maund’s assessment, the results of our geochemistry work to date at Fiery Creek have confirmed the potential for a near-surface, high- grade deposit which warrants further investigation. Emu intends to strengthen its understanding of this discovery in 2024 by applying modern exploration techniques not previously used in the area. This includes the next key step for the Company which is to undertake a definitive geophysical survey of the Fiery Creek Prospect area in August this year.”
Emu has contracted Independent Consulting Economic Geologist and Fellow of the AusIMM and AIG, Mr Nigel Maund, to assess the Company’s Fiery Creek prospect, within the Georgeotwn Project.
The scope of Mr Maund’s assessment includes:
- a comprehensive mineralogical investigation of the Fiery Creek vein samples1,
- review of EMU exploration data, and
- an update to his interim report2.
In his interim report, Mr Maund suggested the Fiery Creek quartz, copper oxide, sulphide vein array system appears to be developed within the cupolas of two possible, closely spaced “pencil porphyry – type” mineralised systems.
Further research work undertaken by Mr Maund, relying on the updated EMU geologic exploration database, has strengthened his view and interpretation of the system. Indeed, evidence of feldspar porphyry intrusive bodies and phreatic breccias and advanced argillic alteration have been confirmed from Fiery Creek samples viewed under microscope.
Figure 1. Fiery Creek Copper/Yataga Granodiorite summarising rock
Fiery Creek Geochemistry Suggests Shallow Copper Mineralisation
Substantial high-grade copper assays of up to 23.5% Cu were recorded with anomalous associated elements: bismuth (up to 1.88%), silver (up to 480 g/t), arsenic (up to 1,650 ppm), antimony (up to 667 ppm), zinc (up to 1,470 ppm), barium (up to 1.25 %) and tellurium (up to 215 ppm). Mr Maund noted that the system is copper dominated with significant bismuth and silver. Referencing Dr Scott Halley’s3 work, Mr Maund noted the level of erosion within a porphyry copper system can be pinpointed by its geochemical footprint and its silicate and sulphide mineralogy. See Figures 2 and 3 below. These diagrams illustrate that the Fiery Creek system is likely to have been eroded to the upper potassic alteration shell of a porphyry copper system with high grade copper impregnated veining currently exposed to surface.
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This article includes content from EMU NL, 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.
Quarterly Activities Report for the Period Ending 31 March 2024
Highlights
- Assay results received from last quarter's drilling at the Ti-Tree project identified mineralisation at several prospects.
- Strong results, consistent with the zones of a porphyry copper system were received from the first 22 holes drilled into the Minnie Springs Cu-Mo-Ag porphyry prospect, including intercepts of:
- MSRC012: 18m @ 0.37% Cu and 9.7 g/t Ag from 94m downhole, and;
- 16m @ 0.38% Cu and 19.4g/t Ag from 121m downhole
- MSRC022: 7m @ 0.19% Cu from 87m downhole
- MSRC011: 7m @ 0.12% Cu from 21m downhole
- MSRC012 mineralisation contained significant base metal and silver including:
- 5m @ 27.6 g/t Ag, 0.25% Pb and 0.15% Zn with 148 ppm Mo from 107m, and
- 14m @ 21.5 g/t Ag, 0.18% Pb and 0.1% Zn with 274ppm Mo from 122m
- Copper Ridge CRRC008 returned:
- 4m @ 0.91% Cu from 13m
- Including 2m @ 1.67% Cu
- A 3,400m RC drill program has commenced at Minnie Springs, with deeper diamond drilling planned for June.
- Extensive soil sampling program commenced, representing the first systematic exploration over large parts of the mineralised Ti-Tree and adjacent Minga Bar Shears
- Soil program to target both base metal-gold and lithium prospective Leake Spring Metamorphics as well as extensions to the Minnie Springs porphyry style copper- molybdenum trend.
- Cash position of $4.55m as of 31 March
During the period Augustus received the drill results from the Ti-Tree project’s maiden reverse circulation (RC) drilling program completed last quarter. The program was designed primarily to test six advanced targets where existing soil and/or rock chip anomalies had been generated.
Augustus has continued to advance its mineral exploration ground efforts within the Ti-Tree Project with a regional soil sampling program commencing in March and a second RC drilling program commencing in early April at the Minnie Springs Cu-Mo-Ag porphyry prospect.
Drilling Activities
The Ti-Tree project covers some 3,600km2 and overlies 85kms of strike of the Ti-Tree Shear which is known to host a significant number of mineral occurrences in the region. The project area also contains >20kms of strike of the Money Intrusion, where Dreadnought Resources (ASX:DRE) has recently discovered significant Ni-Cu-PGE mineralisation1 .
Assay results from late last quarter’s drilling which comprised 78 holes totalling 9,086m of Reverse Circulation (RC) drilling were received in the March quarter2.
The primary focus of this drill program was to target significant mineralised zones defined by surface exploration completed across the 6 prospect areas of Minnie Springs, Coo Creek, Nick’s Bore, Copper Ridge, Crawford Bore and Crawford South (Figure 1).
Figure 1. Map of Crawford area and Minnie Springs, key drilling targets
Significant assays with >1m width at >0.1%Cu are shown in Table 1 below. Intervals marked * contain composite samples (nominal 4m).
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.
Quarterly Report – Activities for Quarter Ended 31 March 2024
HIGHLIGHTS:
Lyndon Uranium/Lithium/REE
- New Rock chip assay results up to 6,612ppm U3O8 at the Baltic Bore and Jailor Bore prospects
- 12 rock chips returned assays >1,000ppm U3O8
- 5 rock chips returned assays >1,000ppm V2O5
- Uranium anomalism spans strike lengths of 2.6km at Baltic Bore and 2km at Jailor Bore
- Lyndon Project Immediately adjoins Paladin Energy’s Carley Bore Uranium Project (15.6MLbs U3O8)
Relief Well Uranium Project (Lyndon):
- Relief Well Uranium Prospect immediately adjoins Paladin Energy’s Carley Bore Uranium Project
- (15.6MLbs U3O8 announced resource)1
- Extensive 8km long palaeochannel confirmed at Relief Well, prospective for roll-front style uranium mineralisation
- Drill planning underway for testing of roll-front uranium mineralisation at Relief Well
Gascoyne East:
- Completion of lithological and structural interpretation from geophysical datasets
- PoW approval for Phase 1 aircore drilling to assist bedrock mapping
- Geophysical interpretation has confirmed drill targets for:
- Intrusion-related porphyry and Iron Oxide Copper-Gold (IOCG) mineralisation
- Magmatic Ni-Cu-PGE mineralisation within a distinct layered mafic intrusion
- Orogenic and intrusion-related gold mineralisation within the Dalgaringa Supersuite and Camel Hills Metamorphics.
- Intrusion-related gold and base metal deposits within the Edmund Basin
- Sedimentary-hosted base metal deposits in the Edmund Basin analogous to the Abra deposit
- At-surface uranium targets identified through airborne radiometric survey data
Odessa’s Executive Director, David Lenigas, commented:
“It’s been a very active and successful exploration period for Odessa in the Gascoyne this past quarter, having identified very significant uranium prospects emerging at Lyndon returning some exceptional grades up to 6,600 ppm U3O8. Our exploration priorities in the Gascoyne are now swayed towards accelerating our uranium targeting at Lyndon and readying the uranium prospects for drilling later this quarter if possible. We are also excited with what we are seeing now at Gascoyne East with the detailed interpretation of the airborne survey highlight excellent gold copper and uranium targets. Detailed planning for air-core and RC drilling is now well underway and should also start later this quarter or early next quarter.”
Figure 1: Odessa Minerals regional Gascoyne Project location map overlain with Geological Survey WA Minedex Occurrences.
Lyndon Uranium/Lithium/REE Project
Lyndon Project Overview
The Lyndon Project is located on the margin of the Carnarvon Basin and Gascoyne Complex approximately 200km south of Onslow and 200km NE of Carnarvon, in Western Australia. The project consists of over 1,000km2 of exploration licenses and applications.
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Maiden Exploration to Commence at Summit’s Brazilian Niobium Projects
HIGHLIGHTS
- Summit to commence a systematic exploration program at its 100% owned Ecuador and Juazerinho Niobium projects aimed at defining initial priority drill targets.
- Due diligence completed by Summit has highlighted the presence of prospective LCT pegmatites at Ecuador, which have seen prior informal mining and extraction of Niobium / Tantalite mineralization from with these LCT pegmatites.
- Previous surface sampling results included1:
JUAZERINHO ASSAYS (Niobium & REE)
- 355,400ppm or 35.54% (Na2O5) + 14,080ppm pREO or 1.408% PREO (SID 099/24)
- 107,010ppm or 10.7% (Na2O5) + 142,080ppm pREO or 14.208% PREO (SID 098/24)
ECUADOR ASSAYS (Niobium + REE)
- 303,400ppm or 30.34% (Na2O5) + 15,130ppm pREO or 1.513% PREO. (SID 100/24)
- Exploration will include focused geological mapping, outcrop & sub crop channel sampling, trenching, and pitting (where appropriate).
- In parallel with the ground-based exploration activities the company is planning an orientation high resolution UAV (drone) magnetics survey aimed at defining signatures associated with known mineralization which, in conjunction with the mapping and geochemical results can be used to focus in on initial targets for drill testing.
- An experienced, locally based Brazilian geological team will commence on-site exploration activities and initiate the necessary drill permitting processes immediately.
Figure 1 - Location and of the Equador and Juazeirinho Project (Summit 100%)
Exploration Program
The geological due diligence completed by Summit highlighted the presence of prospective LCT pegmatites at Ecuador, some of which have seen prior exploitation of Niobium / Tantalite mineralization associated with these LCT pegmatites.
This week, Summit is deploying an experienced in country geological team to commence a systematic exploration program focused on the Ecuador Niobium and REE project. This early exploration phase will include detailed geological mapping, outcrop sampling, channel sampling and where appropriate trenching and pitting.
In parallel with the ground-based exploration activities the company is planning to perform an orientation high resolution UAV (drone) magnetics survey aimed at defining signatures associated with known mineralization. Data gained from these activities will inform preliminary drill targeting.
Regular updates on the exploration program’s progress and results will be provided to the market.
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This article includes content from Summit Minerals 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.
