Something brewing...., page-362

WA1 RESOURCES (ASX:WA1)

WA1 shareholders have enjoyed a breathless rise from 13.5c tiddler to $4.85 market darling in a touch over seven months.

That’s a ~3500% gain, sparked by ongoing exploration success at the super high-grade West Arunta niobium project on the WA/NT border.

Niobium is mainly used to make steel better, but also has growing uses in lithium-ion batteries, intelligent glass, solar panels, 5G tech, and nuclear energy.

Ferroniobium metal (65% Nb) sells for ~US$45,000/t.

Two discoveries have been made thus far, Luni and P2. The more advanced Luni is returning shallow high grade drill hits like 13m at 5.0% Nb2O5 (within an overall interval of 31m at 3.5% Nb2O5) and 10m at 4.0% Nb2O5 (within an overall interval from 39m of 24m at 2.1% Nb2O5).

Luni is currently 400m long and 200m wide, and open in all directions.

For reference, there are three major niobium mines in the world; two are high grade (between 1% and 2.5% ore grade), while the third sits at around 0.5%.