WA1 Resources expands Luni deposit ahead of maiden MRE

WA1 Resources (ASX:WA1) has expanded the Luni deposit — part of its wholly owned West Arunta Project in Western Australia — to the east ahead of a maiden Mineral Resource Estimate (MRE) due for completion this quarter. 

WA1 Resources, which has a $1.07 billion market capitalisation, says the results collected from 2023 reverse circulation and diamond drilling demonstrate a shallow blanket of niobium (Nb2O5) mineralisation. 

Niobium is a critical metal with unique properties that make it essential for the global energy transition. 

The results also show peak grades up to 4% Nb2O5 within 200m-spaced drillholes. Drillhole LURC23-093 in particular provides further evidence of the multi-commodity potential at Luni, returning 7m @ 10% total rare earth oxide from 58m. 

Managing Director Paul Savich says the intersection will require follow-up work to better understand the potential for a meaningful extension.

“There are limited remaining assays to be reported from 100m infill drilling completed during 2023, followed by the estimation of an initial mineral resource for Luni,” Savich says. 

“Ongoing drilling is currently focused on collecting samples for metallurgical testwork and broad 200m-spaced grid drilling to help define and extend the bounds of the mineralisation that remains open.”

Meanwhile, a sonic drilling rig has arrived at site and will be trialled with a focus on providing additional samples through the key oxide mineralised horizon. 

Further environmental baseline surveys are also planned to begin next month following completion of a series of geophysical and heritage surveys.  

WA1 Resources is a Western Australia-based minerals company which owns three exploration projects. The company’s flagship West Arunta project sits about 400km south of Halls Creek. 

Write to Adam Drought at Mining.com.au

Images: WA1 Resources
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.