Reach (ASX:RR1) chips off high-grade taste of Gascoyne niobium

Reach Resources has chipped off a very high-grade taste of niobium and rare earths from the bedrock of its Wabli Creek project in the Gascoyne region of Western Australia.

The latest rock chip campaign discovered the in-situ source with assays up to 17.65 and 13.22 per cent niobium pentoxide alongside highs of 31.39% titanium, 10.81% tantalum and 1.13% total rare earth oxide.

Results came from a granitic pegmatite now confirmed as the primary source of mineralisation, with a recently found ovoid late-stage intrusive feature the likely parental source of the project’s enriched pegmatite.

The majority of the most prospective parts remain poorly exposed and underexplored, and results notably came from around half a kilometre away from a past 32% Nb2O5 assay.

Reach Resources Chief Executive Jeremy Bower said it was a significant breakthrough.

“It was not known whether the hard rock source material would hold the same or similar concentrations as the previously reported surface eluvium samples,” he said.

“However, taking rock chips directly from the hard rock in situ material and returning similar grades up to 17% Nb2O5, plus high grade REE and Titanium is extremely promising.”

Bower added a recent identification of the late stage intrusive showing margins coincident with geochemical targets adds weight to a theory of more high-grade material to be discovered.

“Initial geochemistry indicates that the late stage intrusive has an alkali signature and is on the same continuum as a carbonatite, so further work is planned to investigate whether we also have a carbonatite source in addition to these rare earth pegmatites,” he said.

“We have now engaged Southern Geoscience to interpret detailed geophysical data covering the project area designed to pinpoint more pegmatites beneath cover.”

Detailed airborne magnetic and radiometric survey data are now being acquired for interpretation and drill targets as Reach continue with heritage talks for another sampling visit to Wabli Creek.

One colossal Brazilian deposit accounts for the bulk of current global niobium, and a hunt for diversified resources within Australian borders is now well underway.

WA1 Resources (ASX:WA1) did not even need a maiden resource to turn from fledgling into a billion-plus dollar company, and Reach had added two thirds to its share price by mid-morning Perth time off its own early results.

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