Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to provide an update on the Company’s high-grade Niobium and REE project at Wabli Creek, Gascoyne, W.A.
HIGHLIGHTS
- Identification of a fine-grained alkaline igneous rock type as the host of the high grade Niobium/REE/Titanium mineralisation announced 28 May 2024. This is a significant development as the host is not from pegmatite geology and increases the likelihood of a carbonatite association.
- Expert geophysical consultant Southern Geoscience has identified multiple new targets they consider high priority for the potential discovery of more Niobium/REE enriched intrusive features at Wabli Creek, Gascoyne, W.A.
- Detailed geophysical imagery analysed by Southern Geoscience shows a strong correlation with geochemical targets, previously identified by Sugden Geoscience (ASX Announcement 21/12/23), adding additional confidence to high-grade Niobium (Nb) and Rare Earth Elements (REE) targets.
- The majority of the new Nb & REE targets identified are located in and around the margins of the ovoid intrusive feature (ASX Announcement 28 May 2024).
- The recently identified ovoid late-stage intrusive feature, considered the likely parental source of the Nb-Y-Ta-Ti-REE fine grained Alkaline igneous rocks at Wabli Creek, has been clearly confirmed by the high resolution imagery.
- The latest interpretation by Southern Geoscience was primarily concerned with the identification of places which may provide further intrusive features prospective for Niobium, Tantalum, REE’s and Lithium. Targeting strategies focused on lithological associations, structural context, structural complexity and deformation and proximity to possible source granitic bodies.
The source of the high grade niobium, REE, titanium mineralisation outlined in ASX announcement 28 May 2024 has most recently been identified by the Reach exploration team as a fine grained alkaline igneous rock. This is a significant development for the project as it was considered previously that the mineralisation was from a pegmatite source. Importantly, the alkaline igneous rock has a strong association with carbonatite and therefore further laboratory assessment is underway to confirm the potential presence of carbonatite material.
Figure 1: Multiple new high priority Niobium/REE targets, Wabli Creek.
Figure 2: Location of In situ assay results (24WRCK049 & 24WRCK046), previously announced per ASX Announcement 12 June 2024. Also, an example of one of the new high priority Nb/REE targets.
In addition, Southern Geoscience was engaged to analyse detailed 50m line spaced magnetic and radiometric data that was flown over the tenement. The analysis of this data by Southern Geoscience enabled this latest interpretation of major structures, including faults and traps that may act as conduits for potentially more fine grained alkaline igneous intrusions, resulting in multiple new targets for the Company.
Targeting by Southern Geoscience was largely focused around the margins of the late stage ovoid feature and aimed to identify sites of significant structural complexity and or/lithological contacts which may be exploited by dykes or other intrusive features such as the alkaline igneous mineralised rock.
Across the targets a major shear zone with cross-cutting faults over printed by the late stage ovoid feature was identified, in addition to the identification of two areas that more represent more late stage intrusives and a layered magnetic unit of potential greenstone lithology which is often an area where dykes intrude.
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