Outstanding High-Grade Niobium, Yttrium & Dysprosium Assays

Reach Resources Limited (ASX: RR1) (“Reach” or “the Company”) is pleased to announce the receipt of laboratory assay results from the Company’s maiden rock chip sampling programs recently undertaken at its Skyline Rare Earths project and Critical Elements project (the “Project/s”), both located in the emerging Gascoyne Mineral Field in Western Australia (ASX Announcement – 18 October 2022).

HIGHLIGHTS

• High-grade assays of 6.78% Niobium oxide and 3.71% Tantalum oxide, returned from within the Company’s wholly owned Critical Elements Project;
  
• These results back up the previously reported assay results from rock-chip samples of 32% Niobium oxide and 12.4% Tantalum oxide (Note 1);
• Assay results confirm Niobium rich target zone with a potential Total Rare Earth Oxides (TREO) strike length of up to 1.5km
• Assays further highlight the discovery of high grade critical heavy rare earth oxides (HREO) which include:
  • 7226 ppm Yttrium oxide
  • 3430 ppm Dysprosium oxide
  • 4880 ppm Ytterbium oxide
  • 2760 ppm Erbium oxide
  • 450 ppm Terbium oxide
• Significantly, all three of the Company’s granted tenements have returned highly anomalous TREO results >500ppm to a maximum of 25,652 ppm or 2.57% TREO (see Table 1).

Reach CEO Jeremy Bower commented

“We have been confident of our Niobium rich zone from historical results but to receive confirmation with these lab results is great news for our shareholders. Now we add the discovery of the more valuable heavy rare earths within this same target zone, and in particular high grades of Dysprosium and Yttrium, this makes these projects our number one priority and is particularly exciting for the Company.

To discover this target area now, having just commenced our systematic exploration program, is a great start and gives us the confidence to ramp up our exploration program in the new year.”

Niobium is a critical metal used in the steel industry, in wind turbines and in high-performance batteries.

Dysprosium is used in tandem with neodymium in permanent magnets that are vital to modern technology and renewable energy.

Terbium is used in TV screens and solid-state hard drives for data storage. Solid-state drives are heavily favoured over conventional hard drives as they are faster and more reliable.

Yttrium is used in TV screens, as an alloying agent and in the polymerization of ethylene.

Ytterbium is used in memory devices, laser technology and as a more environmentally friendly industrial catalyst.

Erbium is used in the nuclear industry, as well as in alloys, especially with vanadium and titanium and in heat-absorbing glass, photographic filters, and as a fibre-optic amplifier.

Significantly, all three of the Company’s tenements have returned highly anomalous TREO results (>500ppm) (see Table 1).

No other anomalous results were returned from the assays. However, the Company awaits separate assay results for Manganese and looks forward to reporting these in the near future.

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