Coverage of RR1

Extract from Bulls and Bears, by Craig Nolan (21 November 2024).

Reach Resources has intercepted thick rare earths hits at its 100 per cent owned Wabli Creek project in WA’s Gascoyne region, scoring a whopping 109m running 1109 parts per million total rare earth oxides (TREO). Initial assays from 18 holes drilled at the company’s Pelops target, part of a wider 40-hole reverse-circulation (RC) program, returned significant intersections of rare earths assaying more than 1000 ppm, with many from surface and multiple holes ending in mineralisation.

An impressive intercept of 109m going 1109ppm TREO from 11m includes 8m of the more lucrative “magnet” rare earth oxides grading 270ppm. Another 80m hit came in at 1280ppm TREO from surface and included a 16m slice of magnetic rare earth oxides returning 257ppm.

The 40-hole program targeted the Pelops, Broteas and Amphion prospects, with the remaining assays for Broteas and Amphion due in the coming weeks. Pelops was prioritised due to strong potential for rare earth oxides and the valuable niobium metal. Multiple intersections of high-grade magnet rare earth oxides were discovered with all four of the in-demand magnetic oxides present. They include neodymium, praseodymium, terbium and dysprosium. Niobium was also observed in local concentrations and the rare earth-bearing mineral monazite was found to be distributed throughout the granite intrusive, with higher levels unearthed in mineralised zones.

These initial results show large zones of TREO mineralisation and almost exclusively within the Alkaline Granite which means the target is potentially very large, considering the size of the intrusion and the mineralisation remains open at depth.

Interestingly, it remains to be seen how weathered the granite material containing the rare earth oxides at Wabli Creek is. The extent to how weathered the material is can play a large role in determining the prospectivity of the deposit and can be a determining factor in the type of mining and processing required to develop the project.