Newly Identified Niobium and Rare Earth Targets

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to advise that a recent review of airborne, magnetic, and radiometric geophysical data by Southern Geoscience has identified a large ovoid intrusive feature, at the Company’s 100% owned Wabli Creek Project, WA.

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HIGHLIGHTS

• A review of available geophysical data by Southern Geoscience on the Company’s 100% owned, Wabli Creek Project, Yinnetharra WA, has identified a large ovoid intrusive feature/magnetic target (Figure 1).
• The magnetic anomaly has been interpreted as a late-stage intrusive granitic sequence, internal to the regionally extensive Durlacher Supersuite, and proximal to the Chalba Shear Zone.
• The 3 highest priority existing geochemical targets, including an area where historical high- grade niobium eluvial mining has been undertaken, have been confirmed to be associated with structures located at the margin of the newly identified magnetic intrusive feature.
• This is the first time that such a potential link has been indicated at Wabli Creek and if correct, it expands the potential of the project to host significant Nb-Y-REE mineralisation.
• Including new targets, a total of 27 targets have now been identified which will be the focus for ongoing exploration.
• High grade eluvial results previously reported include:
  • Niobium:
    • 32% Nb2O5 (ASX Announcement 1 June & 13 December 2022)
    • 14.3% Nb2O5 (ASX Announcement 1 June & 21 December 2023)
  • Yttrium:
    • 0.72% Y2O3 (ASX Announcement 13 December 2022)
  • Rare Earth Elements:
    • 2.6% TREO (ASX Announcement 13 December 2022)
• Following the successful review by Southern Geoscience, detailed airborne geophysical surveys including magnetics, radiometrics and gravity are now planned to further refine priority targets, and potentially identify further additional targets.

The large intrusive feature is coincident with previously reported high grade Nb-Y-REE results from eluvial samples and high priority soil geochemical anomalies.

Figure 1: Wabli Creek Project showing structural interpretation and recently identified “Ovoid” feature represented as a magnetic low, overprinting surrounding magnetic feature. Background image is Total Magnetic Intensity First Vertical Derivative (TMI 1VD – linear).

Located in the highly prospective Gascoyne “Battery Metals” Province of Western Australia, approximately 150kms north of Gascoyne Junction, the Wabli Creek project has provided high grade niobium and TREO results up to 32% Nb2O5, 14.3% Nb2O5 and 2.6% TREO. (ASX Announcement 13 Dec 2022, 1 June 2023).

The newly identified ovoid magnetic feature is interpreted to be a younger granitic sequence which has intruded into the older, regionally extensive, Durlacher Supersuite, proximal to the Chalba Shear Zone, a major E-W trending structural corridor.

Importantly, the existing 3 highest priority geochemical anomalies, together with the area historically mined for high-grade niobium eluvium all occur along the margins of this newly identified feature, suggesting a potential genetic link between the intrusive and known mineralisation.

This is the first time that such a potential link has been indicated at Wabli Creek and if correct, it expands the potential of the project to host significant Nb-Y-REE mineralisation.

Geophysical Surveys

Southern Geoscience completed a review of all available geophysical data over the Wabli Creek Project area, with the aim of producing a structural interpretation based on public domain airborne magnetic data, radiometric data and satellite imagery. The key outcome following the study was the identification of a large “ovoid-shaped” magnetic feature central to E09/2377(Refer to Figures 1 and 2).

Importantly, a total of 27 targets have now been identified and will be the focus for ongoing exploration at Wabli Creek, for Niobium-Yttrium-Rare Earth Elements.

Given the success of the geophysical review, and the relatively low resolution of the existing magnetic and radiometric surveys at Wabli Creek (~400m line spacing, 80m station spacing), detailed airborne geophysical surveys including magnetics, radiometrics and gravity are now planned to further refine priority targets and to potentially identify additional exploration targets.

Jeremy Bower CEO commented:

“The identification of a potentially late stage, younger, granitic intrusive sequence at Wabli Creek is really exciting.

We have previously reported some very high grade Nb-Y-REE rock chip and soil results at Wabli Creek, and having now located what may be the source of mineralisation, could potentially be of significant importance in understanding the source of the mineralization at the project.”

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