WA1 Resources reports ‘significant’ expansion of niobium area at Luni prospect

Broad-spaced drilling by remote region explorer WA1 Resources (ASX:WA1) continues to expand the envelope of niobium mineralisation at its Luni prospect in Western Australia.

High-grade niobium continuity has now been demonstrated by drilling at 200m-spaced holes.

Previous niobium hits resulted from drilling at a spacing of 400m.

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.

Latest assays include 37m at 2.3% niobium oxide, including 10m at 4.0%, while another hole returned 15m at 3.3%, including 9m at 5.2%.

Step out drilling to the east at two holes assayed 20m at 2.3% and 7m at 2.7% niobium oxide.

Managing director Paul Savich said this latest announcement doubles the number of drill holes released so far from Luni and all holes reported continue to be from wide-spaced 200m grid drilling.

“With such broad drill spacing, each hole individually constitutes significant growth in the high-grade niobium mineralised envelope at Luni,” he added.

The company says that these drilling results define a shallow, high-grade blanket of mineralisation within a northeast-southwest trending zone, as of now extending for about 1.5km and remaining open.

Some 16,000m of drilling has been completed so far at Luni.

The 200m-spacing program is nearly completed, and WA1 is expanding its 100m-spaced infill drilling plan.

A total of 105 reverse circulation holes and 11 diamond drill holes have so far been completed, with 32 holes having been reported.

But the timing of the maiden mineral resource estimate has been moved from the December quarter of this year to the first half of 2024.

The company says this is primarily due to the additional drilling required to constrain the high-grade niobium mineralised footprint.

There have also been delays in turnaround times for assay results.

Previous work in the entire project area had been limited to exploration for gold and copper largely in the form of reconnaissance airborne geophysics, limited ground surveys and surface sampling.