NewsStocksWA1 Resources reports further positive assays from Luni niobium project

WA1 Resources reports further positive assays from Luni niobium project

Author: The Market Online Australia·

Key Takeaways

  • •Infill drilling at Luni’s eastern zone returned multiple high-grade niobium intersections, including 21.4 metres at 7.4%.
  • •WA1 said it expects to release an updated mineral resource estimate and a pre-feasibility study later this year.
  • •The company has completed 90,000 metres of drilling at Luni since the project was discovered.
  • •Diamond drilling is continuing in the eastern Indicated MRE zone to refine the resource and collect metallurgical samples.
  • •WA1 has commissioned the Luni airstrip, and regular direct flights are now operating to improve site access.
WA1 Resources reports further positive assays from Luni niobium project

WA1 Resources (ASX:WA1) has reported further drilling results that continue to underline the niobium potential of its Luni project in Western Australia’s north.

Infill drilling in the eastern zone of Luni has delivered a series of high-grade niobium intersections, including 7.3 metres at 2.9%, 13 metres at 3.2%, 26.8 metres at 2.5%, 19.8 metres at 2.7%, and 21.4 metres at 7.4%, among numerous other hits.

WA1 managing director Paul Savich said the company is making good progress toward releasing an updated mineral resource estimate (MRE) and the pre-feasibility study (PFS) later this year.

“Field data collection supporting the PFS is now complete. Current site activities are focused on advancing technical workstreams that will strengthen the project’s foundation for definitive- level studies and future development,” he said.

“This year, resource definition drilling has concentrated on the eastern focus area, with the primary objective of working towards an initial measured resource. This work is targeted to provide the highest level of geological confidence in the mineralisation expected to underpin the early years of any potential mining.

“Access to Luni has also improved significantly following the commencement of direct flights earlier this month, enhancing logistics and supporting efficient project execution.”

The company said a total of 90,000 metres of drilling has been completed at the project since discovery. An extensive field campaign is continuing at Luni, with diamond drilling underway for resource definition and for the collection of samples for metallurgical testwork, both of which are key inputs for moving from exploration results toward more detailed engineering studies.

Current diamond drilling has primarily targeted resource definition within the eastern Indicated MRE zone, with drilling generally completed on a 50-metre by 50-metre staggered grid pattern. WA1 said the program is designed to increase confidence in, and further define, the niobium mineralisation contained within the current MRE.

WA1 has commissioned the Luni airstrip, and regular direct flights to site are now taking place. The company said the airstrip is a key piece of infrastructure expected to improve the safety and efficiency of site access by supporting personnel mobilisation and facilitating exploration activities.

Construction activities associated with the airstrip also included ongoing work experience programs for Traditional Owners. WA1 said insights from these programs are intended to support the development and delivery of future collaborative initiatives.

WA1 was last trading down 1.27% at $10.90.

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