WA1 Resources extends niobium mineralisation at Luni prospect another 400m

Three more assays from the broad-based drilling program at the Luni prospect show that the niobium mineralised zone continues to grow, reports WA1 Resources (ASX: WA1).

A new intersection 400 metres east of the previously reported holes has returned 114m at 0.7% niobium oxide, including a 17m interval grading 2.0%.

Further drilling will be conducted near this hole to better define the extension.

Luni is part of the company’s West Arunta iron oxide copper gold (IOCG) project located in a remote region of Western Australia, 490km south of Halls Creek.

This latest development follows on the company’s success during drilling holes spaced apart at 400m, since which more mineralisation has been confirmed by subsequent 200m-spaced holes.

Managing director Paul Savich said this latest assay provides a new shallow, high-grade zone of enrichment.

It also supports the company’s interpretation of the lateral controls, primarily southwest to northeast.

“Follow-up drilling will determine how far east high-grade mineralization extends beyond this zone,” he continued.

Further assay results are expected in the coming weeks as laboratory turn-around times improve,” said Mr Savich.

The company reported last week that the 200m-spacing drilling was almost complete, and will be followed by drilling at 100m intervals.

Additional drilling required has meant that the timing of the maiden mineral resource estimate has been moved from the December quarter of this year to the first half of 2024.

WA1 explains that, while 90% of global supply is controlled by Brazil, demand for niobium products is widespread, with a growing number of applications.

The primary niobium product is ferroniobium which accounts for about 90% of demand, which now stands at 100,000 tonnes per annum.

Ferroniobium is used as a micro alloy in steel making, as it improves the mechanical properties of steel.

But now a key growth market is niobium pentoxide.

This is due to recent developments in lithium-ion battery technology.

The niobium pentoxide content in those batteries reduces charge times and enhances battery life.

This charge time is now down to six minutes while battery life has been improved with an additional 20,000 cycles.