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- Reach Resources (RR1) reports high-grade rock chip results from two of its projects in Western Australia’s Gascoyne region
- The Critical Elements project returned 6.78 per cent niobium and 3.71 per cent tantalum, confirming a niobium-rich zone with a potential strike length of 1.5 kilometres
- Further, the company received heavy rare earth oxide results from the Critical Elements and the Skyline projects, including 7226 parts per million (ppm) yttrium and 3430 ppm dysprosium
- Reach Resources says these high-grade results make these projects its “number one priority”, and it will conduct more exploration work in the new year
- RR1 shares closed 20 per cent higher at 0.6 cents on Tuesday afternoon
Reach Resources (RR1) has reported high-grade niobium and tantalum results from rock chip samples at its Critical Elements project in Western Australia.
The company received the assays from maiden rock chip sampling programs recently undertaken at its Skyline rare earths project and Critical Elements project, which are both located in WA’s Gascoyne region.
The Critical Elements Project, comprising two tenements, returned up to 6.78 per cent niobium oxide and 3.71 per cent tantalum oxide. The company said these grades built upon previous sample results of 32 per cent niobium oxide and 12.4 per cent tantalum oxide.
Importantly, the results confirm a niobium-rich target zone at the project with a potential total rare earth oxide (TREO) strike length of up to 1.5 kilometres.
“We have been confident of our Niobium-rich zone from historical results, but to receive confirmation with these lab results is great news for our shareholders,” CEO Jeremy Bower said.
Across both the Skyline and Critical Elements projects, assays include heavy rare earth oxides (HREO) such as 7226 parts per million (ppm) yttrium, 3430 ppm dysprosium oxide, 4880 ppm ytterbium oxide, 2760 ppm erbium oxide and 450 ppm terbium oxide.
“Now we add the discovery of the more valuable HREOs within this same target zone, and in particular high grades of dysprosium and yttrium, this makes these projects our number one priority and is particularly exciting for the company,” Mr Bower added.
The company said following these results, it was looking forward to ramping up exploration next year.
RR1 shares closed 20 per cent higher at 0.6 cents on Tuesday afternoon.
