Project Overview:
The Luni Project is located in the West Arunta region of Western Australia. The project represents a significant niobium discovery within a carbonatite complex. Mineralisation occurs as a sub-horizontal blanket coincident with the transition between intensely and moderately weathered carbonatite.
Program Details:
The current drilling program involves diamond and sonic drilling, with 29 drillholes completed this year in the eastern portion of Luni. Drilling focuses on providing samples for metallurgical testwork, along with extensional (200m spaced) and infill grid drilling. The orientation of enriched, oxide mineralisation is generally interpreted to be sub-horizontal.
Understanding These Results:
The reported intersections demonstrate continuity of shallow, high-grade niobium mineralisation across the deposit. The mineralisation style is particularly significant in the weathered zone of the Luni carbonatite, with potential for primary mineralisation in deeper, unweathered zones remaining to be tested.
Management Commentary:
Paul Savich, Managing Director, stated:
“Today’s results provide the final assays for input into an initial Mineral Resource estimate which will provide further insight into the immense niobium endowment discovered at Luni."
“Drilling is ongoing at Luni and we are still undertaking broad 200m-spaced grid drilling which is better defining and extending the bounds of Luni’s mineralisation. Samples are also being collected for future metallurgical testwork."
“Drilling will then move to infill activities to increase the resource confidence level and support mine planning and economic evaluation.”
Next Steps & Catalysts:
Two drill rigs are currently operating at Luni, focused on extensional and infill drilling, and metallurgical sample recovery. The initial Mineral Resource estimate remains on schedule for release in late June 2024.
Commodity Outlook:
Niobium is a critical metal essential for the low-carbon economy transition. Global demand is widespread, with the primary product being Ferroniobium (FeNb), which accounted for 105,000tpa of sales in 2022. Growing applications include lithium-ion battery technology, where niobium can reduce charge times to six minutes while enhancing battery life.
Conclusion:
The latest results from Luni demonstrate significant potential in defining a substantial niobium resource. With consistent high-grade intercepts and ongoing drilling programs, the project continues to advance toward its maiden resource estimate, positioning WA1 Resources as a potentially significant player in the critical minerals sector.
Sources:
WA1 Resources Drill Results Announcement Link
Additional Figures:
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