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WA1 RESOURCES LTD Capital/Financing Update 2022

Nov 15, 2022

66031_rns_2022-11-15_72aa8f5e-c516-48dc-8fbc-479ffd614e71.pdf

Capital/Financing Update

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ASX RELEASE
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16 NOVEMBER 2022

WEST ARUNTA PROJECT

DISCOVERY OF A SECOND NIOBIUM-REE MINERALISED CARBONATITE SYSTEM AT LUNI

Highlights

Luni Target

  • First drilling of the Luni target has confirmed the discovery of a new NiobiumREE mineralised carbonatite system

  • Luni is located 30km from the P2 target and is the second significant discovery made in WA1’s maiden drill program in the West Arunta

  • The Luni geophysical anomaly extends for ~3km with highly anomalous niobium, rare earths and phosphorous mineralisation confirmed in all three holes which are located up to 1.3km apart

  • Best intersection in Luni composite assays from LURC002 (assayed from 28m)[₁] :

4m at 2.88% Nb2O5, 0.68% TREO[2] , 10.70% P2O5

from 32m within an interval of

28m at 0.92% Nb2O5, 0.30% TREO, 5.58% P2O5

from 28m and within a broader interval of

136m at 0.40% Nb2O5, 0.17% TREO, 3.90% P2O5

from 28m

  • Best intersection in Luni composite assays from LURC001 (assayed from 121m)[₁] :

24m at 0.82% Nb2O5, 0.21% TREO, 6.44% P2O5

from 157m, and

8m at 0.93% Nb2O5, 0.26% TREO, 10.35% P2O5

from 233m

  • Best intersection in Luni composite assays from LURC003 (assayed from 44m)[₁] :

8m at 1.06% Nb2O5, 0.10% TREO, 0.79% P2O5

from 44m, and

8m at 0.71% Nb2O5, 0.03% TREO, 0.08% P2O5

from 56m, and

13m at 0.73% Nb2O5, 0.13% TREO, 5.04% P2O5

from 162m

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WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 A: L2 55 CARRINGTON ST NEDLANDS WA 6009 P: +61 8 6478 7866 E: [email protected] A: 2C LOCH ST, NEDLANDS WA 6009 P: +61 8 6478 7866 E: [email protected]

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  • Shallow samples from the oxidised (weathered) zone appear to be supergene enriched which opens up exploration potential for both shallow, high-grade supergene and deeper primary mineralisation

  • Samples from the top of all Luni holes LURC001 (0m to 121m), LURC002 (0m to 28m) and LUR003 (0m to 43m) have not yet been assayed

P1 Target

  • Three holes drilled at the P1 target intersected a major ironstone-magnetite rich unit with subtle anomalism

  • Further work is required to better understand the geophysical anomaly at P1 and its exploration potential

Upcoming Results and Activity

  • Composite assays for all seven drillholes have now been received

  • All single-metre splits from P2 and Luni have been submitted for analysis with assay results now expected during December

  • Assessment of results and planning for follow-up drill programs at these carbonatite discoveries is ongoing

WA1 Resources Ltd (ASX: WA1) ( WA1 or the Company ) is pleased to announce further composite assay results from its maiden West Arunta Project drilling program completed in August. This announcement follows on from the Company’s P2 Target discovery released to ASX on 26 October 2022.

WA1’s Managing Director, Paul Savich, commented:

“It’s an incredible outcome to have discovered two high-grade mineralised carbonatite systems with our first drill program in the West Arunta. The fact that we have encountered high-grade niobium and anomalous rare earths in all three holes at Luni which are drilled up to 1.3km apart bodes extremely well for the exploration potential of the ~3km long geophysical target.

“The confirmation of high niobium grades in the near-surface oxide material is also an exciting development as it opens up the potential for mineralisation to be present in both supergene and primary zones.

“Our conceptual targeting methodologies which identified the West Arunta as a prospective underexplored region have been validated, along with our capability to successfully execute our exploration plans.

All 1 metre splits, including those previously unassayed near top of holes at P2 and Luni, have now been submitted for analysis. We currently anticipate receiving the next round of results in December.

“We are now turning our thoughts to increasing our exploration efforts and maximising the potential of a new belt-scale critical minerals opportunity in Western Australia. In 2023

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Notes 1: A ‘composite assay’ refers to the grouping of single metre samples into 4-metre combined intervals for laboratory assay, a common industry practice utilised in RC drilling for early-stage exploration projects. Refer to Table 2 for full assay details. 2: 'TREO’ is an abbreviation of Total Rare Earth Oxides, which in this announcement represents a combined group of 16 elements (La, Ce, Pr, Nd, Sm, Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, Y, Sc), excluding Pm

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our objective will be to efficiently quantify the magnitude of these exciting initial discoveries and apply our knowledge to test other priority regional targets.”

Technical Discussion

WA1’s maiden drill program in the West Arunta comprised seven holes for a total of 1,745 metres. Drilling provided an initial test of two target zones at the Pachpadra Prospect (P1 and P2) and one target zone at the Sambhar Prospect (Luni).

The results provided in this announcement relate to three reverse circulation ( RC ) drill holes at the Luni target (LURC001, LURC002 and LURC003) and three RC holes drilled at the P1 target (PARC001, PARC002 and PARC004).

Table 1: RC Collar Locations (GDA94 Zone 52)

Hole ID Target Easting Northing RL
(m)
Azimuth
(Degrees)
Dip
(Degrees)
Depth
(m)
PARC001 Pachpadra - P1 397814 7546984 402 180 -60 240
PARC002 Pachpadra - P1 397813 7546368 405 180 -60 240
PARC004 Pachpadra - P1 397809 7546726 403 180 -60 246
LURC001 Sambhar - Luni 435613 7540737 395 - -90* 288
LURC002 Sambhar - Luni 436819 7540777 393 - -90 299
LURC003 Sambhar - Luni 436812 7540574 394 - -90 216
  • Hole planned as vertical and deviated during drilling (see Figure 1)

Initial assay results for the one drill hole completed at the P2 target (PARC003) were released to the ASX on 26 October 2022.

Luni Target (Sambhar Prospect Area) Discussion

At the Luni target, a total of three RC holes were drilled for 803m, with all holes drilled to the maximum depth capacity of the rig. All holes were drilled vertically (with LURC001 deviating during drilling) to test the source of the east-west gravity anomaly which extends for approximately 3km long and 1km wide.

Assay results have confirmed that a mineralised carbonatite unit has been intersected at Luni, with highly elevated niobium, REE and phosphorus mineralisation encountered in all three drill holes. The downhole intersections confirm the intrusion over a lateral extent of at least 1.3km. For full details of key intersections refer to the highlights and Table 2.

Drillholes LURC001 and LURC002 targeted the peak of the interpreted gravity highs and a third hole, LURC003, was drilled 200m to the south of the eastern hole (LURC002) to test the gravity gradient interpreted in the residual modelling.

Orientation of the mineralisation (true and apparent width) is not able to be determined at this stage.

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Figure 1: Plan View of Luni Drill Collar Locations Combined gravity (resUC200m, colour) and magnetic (residual contours) anomaly images

The Luni target is characterised by a discrete, high amplitude gravity anomaly with a limited but coincident magnetic response occurring adjacent to the eastern line and another between the west and east drill locations. Luni is located at the intersection of two key interpreted regional structural features. One of these structural features is orientated in a north-east trend (as is the case at the P2 target). This structure also intersects the Sambhar geophysical anomaly, a regionally significant anomaly located approximately 2km to the southeast of Luni which has not yet been drill tested.

Gravity surveying of Luni is currently limited to 400m x 400m stations, while the Luni target area is approximately 3km x 1km. An infill gravity survey, along with drilling and other geophysical surveys, will be incorporated into the exploration planning that is currently underway to follow-up these initial drilling results.

The significant gravity anomalies at Luni has been reinterpreted and modelled to potentially be a function of the denser carbonatite intrusion. No specific gravity data was able to be completed on the RC chip material to verify this hypothesis.

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Figures 2-4: Top – Long Section, Middle & Bottom – Cross-sections Schematics of gravity anomaly images (residual gravity with 2.68-2.77g/cc density shells)

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P1 Target (Pachpadra Prospect Area) Discussion

Three holes were drilled at the P1 target in a north-south oriented line. Holes were drilled at -60 degrees towards the south, considered to be the optimal drill orientation as determined via modelling of the geophysical datasets.

At this stage no structural or true thickness observations are able to be made from the RC chips.

The lithologies intersected at the P1 target have been identified as fundamentally different to the carbonatite intersected at the P2 target located 7km to the south-east.

Despite this, the P1 target area remains highly prospective with drilling conducted over 600m within a regionally significant complex magnetic anomaly that extends in strike for over 12km and within a folded sequence of metasediments containing multiple interpreted gravity anomalies, which remain to be drill tested and could be related to other carbonatite intrusions.

At P1 all holes intersected northern Aileron style stratigraphy, which included quartz rich metasediments of sandstone protolith, a high iron magnetite rich unit and a paragneiss unit consisting of quartz, garnet and sillimanite metamorphosed to amphibolite grade. Low level anomalism in TREO, Ni and Cu was encountered, refer to Table 2 for details.

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Figure 5: Plan View of Pachpadra Drill Collar Locations Combined gravity (resUC200m, colour) and magnetic (residual contours) anomaly images

While interpretation of data from drilling is ongoing, the Company does not currently intend to submit the remaining individual samples for each metre of the holes at P1 to the laboratory for assay.

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West Arunta Project – Upcoming Results and Activity

Four metre composite assays for all seven drillholes completed in WA1’s maiden drill program in the West Arunta have now been received and reported.

All single-metre splits from P2 and Luni have been submitted for analysis with first assay results now expected during December. This includes results from the shallower weathered portions of the holes which have potential for supergene mineralisation and have not previously been assayed or reported.

Priority follow-up work includes geophysical surveys and an intensive review of the geochemical assay results. This work will ascertain the nature of the carbonatites intersected and determine if any spatial variation or zonation can be mapped.

Work will also commence on the design of the first drill program in 2023. This program will focus on determining the spatial and depth extent of the carbonatite intrusions intersected at Luni and P2.

Carbonatite Overview

Carbonatites are a type of igneous rock defined by their composition being rich in carbonate minerals, typically calcite or dolomite. They often occur as plugs within alkali intrusive complexes, or as dykes, sills, breccias or veins. They are generally associated with major crustal scale features in rift-related tectonic settings. Carbonatites may be mineralised with rare earth elements, niobium, phosphorus, tantalum, uranium, thorium, copper, iron, titanium, vanadium, barium, fluorine and zirconium.

The identification of mineralised carbonatite intrusions is a significant finding for the West Arunta region. The Company has multiple untested targets within the region and the potential for further discovery with future exploration efforts has been greatly enhanced by the results from Luni and P2.

Carbonatite deposits are an important source of REE and niobium production. This includes the world’s largest REE mine, Bayan Oho in Inner Mongolia, Lynas Rare Earths’ Mt Weld deposit and the world’s three major operating niobium mines.

Niobium Overview

Niobium (Nb) is a transitional metal used as a micro alloy with iron. Niobium is primarily used in the steel industry as the addition of small amounts of niobium (<1%) significantly increases the strength, decreases the weight, reduces corrosion and improves the heat resistance of steel products.

Niobium is a superconductor at very low temperatures, and as an alloy with titanium (NbTi) or tin (Nb3Sn) it produces superconducting magnets used in magnetic resonance imaging (MRI) scanners, nuclear magnetic resonance (NMR) equipment and particle accelerators such as the Large Hadron Collider at CERN. Niobium is essential for advanced technology with additional uses in gas and wind turbines, space travel, and in the manufacture of rechargeable batteries for electric vehicles.

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The metal has been identified by the Australian Government and many other countries as a critical mineral, due to the concentration of supply from Brazil. There are currently three niobium producers globally: CBMM, Araxa, Brazil (66ktpa production[4] , +500Mt at 2.5% Nb2O5 resource, cost <$10/kg Nb)[3] , China Molybdenum Co., Catalao, Brazil (10ktpa production[4] , +50Mt at 1% Nb2O5 resource, cost <$10/kg Nb)[4] and Magris Resources Inc., Niobec, Canada (7ktpa production[4] , +75Mt at 0.56% Nb2O5 resource, cost <$19/kg Nb)[3] .

The main niobium product sold is in the form of ferroniobium (~65% Nb) which makes up approximately 90% of the market. Niobium prices range from US$45,000/t[3] per tonne for standard ferroniobium metal and over US$50,000/t[3] per tonne for niobium pentoxide (Nb2O5).

West Arunta Project – Overview

The West Arunta Project is located approximately 490km south of Halls Creek in WA. It comprises the Pachpadra , Sambhar and Urmia prospect areas , which are contained within a granted Exploration Licence .

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Figure 6: Location of the West Arunta Project

Prior to WA1 acquiring the West Arunta Project in 2021, the tenement had extremely limited historical exploration for gold and copper largely in the form of reconnaissance airborne

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Note 3: NioBay Metals, Investors – Presentations, viewed 25 October 2022 http://niobaymetals.com/wp/wp-content/uploads/2021/05/202105_Niobay_Corporate_Presentation_.pdf 4: NioCorp, Investors – Presentations, viewed 25 October 2022 https://secureservercdn.net/198.71.233.156/gx0.d43.myftpupload.com/wp-content/uploads/NioCorp_Investor_Presentation.pdf

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geophysics, limited ground geophysical surveys, and surface sampling. Drilling on the West Arunta Project tenement was limited to a single historic diamond hole drilled in 2010.

ENDS

For further information, please contact:

Investors

Media

Paul Savich Michael Vaughan Managing Director Fivemark Partners T: +61 8 6478 7866 T: +61 422 602 720 / +61 410 276 744 E: [email protected] E: [email protected]

Or visit our website at www.wa1.com.au

Authorised for market release by the Board of WA1.

Competent Person Statement: The information in this announcement that relates to Exploration Results is based on information compiled by Ms. Stephanie Wray who is a Member of the Australian Institute of Geoscientists. Ms. Wray is a full-time employee of WA1 Resources Ltd and has sufficient experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the “Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Ms. Wray consents to the inclusion in the announcement of the matters based on her information in the form and context in which it appears.

Forward-Looking Statements: This announcement contains forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", “should”, "could", "estimates", “target”, “likely”, “plan”, "expects", "may", “intend”, "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company’s business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements.

Disclaimer: No representation or warranty, express or implied, is made by the Company that the material contained in this announcement will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice.

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ASX RELEASE
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Table 2: Detailed Assay Results

Luni Target RC Drilling Results – LURC001, LURC002, LURC003

Hole ID Sample ID Depth Nb2O5 P2O5 Sc2O3 Y2O3 Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sm2O3 Tb2O3 Tm2O3 Yb2O3 TREO
metres % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
LURC001
WAX03070
121
125
0.05ƗƗ
33100
4
96
539
20
9
11
28
4
272
1
255
69
41
4
1
7
0.14Ɨ
LURC001
WAX03071
125
129
0.04ƗƗ
41000
6
97
552
20
8
12
29
3
258
1
269
71
43
4
1
6
0.14Ɨ
LURC001
WAX03072
129
133
0.01ƗƗ
44100
4
96
541
21
9
12
30
4
247
1
266
69
42
4
1
7
0.13Ɨ
LURC001
WAX03073
133
137
0.04ƗƗ
44800
7
90
551
20
8
12
29
3
254
1
269
69
42
4
1
6
0.14Ɨ
LURC001
WAX03074
137
141
0.1ƗƗƗ
42500
5
101
651
21
9
13
32
4
286
1
267
70
46
4
1
7
0.15
LURC001
WAX03075
141
145
0ƗƗ
36300
5
69
506
15
6
10
24
3
240
1
236
63
35
3
1
4
0.12Ɨ
LURC001
WAX03076
145
149
0.01ƗƗ
25800
5
93
506
20
9
10
26
3
236
1
232
62
36
4
1
7
0.12Ɨ
LURC001
WAX03077
149
153
0.01ƗƗ
13850 ▪
6
56
351
12
6
6
16
2
163
1
157
43
23
2
1
5
0.08Ɨ
LURC001
WAX03078
153
157
0.01ƗƗ
33700
6
81
567
18
7
11
27
3
265
1
273
72
40
4
1
6
0.14Ɨ
LURC001
WAX03079
157
161
0.88
40600
5
102
764
22
9
13
33
3
342
1
302
80
49
4
1
7
0.17
LURC001
WAX03081
161
165
0.47
57700
7
107
730
22
9
14
35
4
325
1
308
80
50
5
1
7
0.17
LURC001
WAX03082
165
169
1.8
124000
5
176
1525
43
15
31
82
6
648
1
673
163
115
9
2
7
0.35
LURC001
WAX03083
169
173
0.87
64200
7
120
941
26
10
18
45
4
421
1
387
102
66
5
1
7
0.22
LURC001
WAX03084
173
177
0.39
25300
6
84
587
17
7
9
25
3
283
1
231
66
34
3
1
6
0.14
LURC001
WAX03085
177
181
0.48
74700
3
92
887
22
8
18
43
3
372
0
384
98
63
5
1
4
0.20
LURC001
WAX03086
181
185
0.18ƗƗƗ
43500
5
79
795
18
6
14
34
3
345
1
324
84
51
4
1
4
0.18
LURC001
WAX03087
185
189
0.05ƗƗ
19600 ▪
4
34
385
8
3
6
13
1
176
0
186
49
25
2
0
2
0.09Ɨ
LURC001
WAX03088
189
193
0.01ƗƗ
23100
4
33
254
8
3
5
13
1
109
0
133
33
21
2
0
2
0.06Ɨ
LURC001
WAX03089
193
197
0.03ƗƗ
5890 ▪
4
22
151
4
2
3
7
1
67
0
73
19
11
1
0
1
0.04Ɨ
LURC001
WAX03090
197
201
0.06ƗƗ
29100
6
52
336
12
4
8
19
2
157
0
180
47
28
2
0
3
0.09Ɨ
LURC001
WAX03091
201
205
0.6
95600
6
126
959
30
11
22
55
5
400
1
432
108
75
6
1
6
0.22
LURC001
WAX03092
205
209
0.05ƗƗ
19350 ▪
5
69
442
15
6
8
20
3
201
1
206
55
31
3
1
5
0.11Ɨ
LURC001
WAX03093
209
213
0.35ƗƗƗ
26600
6
84
528
19
8
9
28
3
254
1
232
63
39
3
1
6
0.13
LURC001
WAX03094
213
217
0.05ƗƗ
25700
4
71
469
16
6
9
23
3
214
1
225
59
35
3
1
5
0.11Ɨ
LURC001
WAX03095
217
221
0.19ƗƗƗ17550 ▪
5
94
538
19
9
9
27
3
264
1
221
62
35
4
1
8
0.13
LURC001
WAX03096
221
225
0.01ƗƗ
161500
6
156
572
31
14
15
42
6
249
1
303
77
53
6
2
10
0.15Ɨ
LURC001
WAX03097
225
229
0.31ƗƗƗ
158500
10
172
731
35
15
18
47
6
320
1
311
80
59
7
2
11
0.18
LURC001
WAX03098
229
233
0.21ƗƗƗ
43800
9
88
486
19
9
9
26
3
240
1
212
57
34
3
1
7
0.12
LURC001
WAX03099
233
237
0.86
52500
4
106
839
23
9
14
37
4
360
1
342
89
56
4
1
7
0.19
LURC001
WAX03101
237
241
1
154500
6
153
1410
38
13
28
72
6
619
1
638
162
107
8
2
7
0.33
LURC001
WAX03102
241
245
0.07ƗƗ
10700 ▪
6
88
430
17
8
8
21
3
205
1
189
52
30
3
1
8
0.11Ɨ
LURC001
WAX03103
245
249
0.15ƗƗƗ11700 ▪
4
99
488
19
9
9
25
3
240
1
206
57
34
3
1
8
0.12
LURC001
WAX03104
249
253
0.07ƗƗ
32500
5
70
451
16
6
9
22
3
196
1
225
58
34
3
1
5
0.11Ɨ
LURC001
WAX03105
253
257
0.06ƗƗ
26800
5
31
287
8
3
6
14
1
127
0
145
37
22
2
0
1
0.07Ɨ
LURC001
WAX03106
257
261
0.04ƗƗ
13750 ▪
5
22
218
5
2
4
9
1
100
0
105
28
15
1
0
1
0.05Ɨ
LURC001
WAX03107
261
265
0.03ƗƗ
13600 ▪
5
20
191
5
2
3
8
1
86
0
93
25
13
1
0
1
0.05Ɨ
LURC001
WAX03108
265
269
0.05ƗƗ
20600 ▪
5
26
276
6
2
5
11
1
126
0
119
32
17
1
0
1
0.06Ɨ

==> picture [596 x 10] intentionally omitted <==

Notes: ƗƗƗ 85 - ALS Method ME-MS85 - ICP

ƗƗ 61r - ALS Method ME-MS61 – ICP Ɨ 61r - ALS Method ME-MS61 – ICP

▪ = 61r ALS Method ME-MS61 - ICP

● = Overlimit not completed

==> picture [206 x 75] intentionally omitted <==

Hole ID Sample ID Depth Nb2O5 P2O5 Sc2O3 Y2O3 Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sm2O3 Tb2O3 Tm2O3 Yb2O3 TREO
metres % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
LURC001
WAX03109
269
273
0.01ƗƗ
22900 ▪
5
29
251
6
2
5
10
1
110
0
108
29
16
1
0
2
0.06Ɨ
LURC001
WAX03110
273
277
0.01ƗƗ
36900
5
40
324
9
3
7
16
1
139
0
150
38
24
2
0
2
0.08Ɨ
LURC001
WAX03111
277
281
0.06ƗƗ
72900
5
71
362
15
6
9
21
3
154
1
168
43
29
3
1
4
0.09Ɨ
LURC001
WAX03112
281
285
0.07ƗƗ
34400
5
46
350
10
4
7
16
2
158
0
152
40
24
2
0
3
0.08Ɨ
LURC001
WAX03113
285
288
0.07ƗƗ
25300
6
79
570
17
7
10
24
3
252
1
241
65
37
3
1
6
0.13Ɨ
LURC002
WAX03122
28
32
0.28ƗƗƗ
4560 ▪
20
47
420
10
5
5
15
2
246
1
155
48
22
2
1
4
0.10
LURC002
WAX03123
32
36
2.88
107000
37
384
2860
94
34
59
155
14
1325
3
1275
319
217
19
4
21
0.68
LURC002
WAX03124
36
40
0.65
22900▪
14
151
1265
35
14
23
59
6
610
1
513
136
86
7
2
10
0.29
LURC002
WAX03125
40
44
0.33ƗƗƗ
44700
34
109
1020
24
9
16
40
4
514
1
407
115
59
5
1
7
0.24
LURC002
WAX03126
44
48
0.65
51600
33
130
1025
27
12
17
45
5
524
1
409
110
64
6
1
8
0.24
LURC002
WAX03127
48
52
0.73
57300
19
143
1235
33
12
22
55
5
617
1
509
135
82
7
2
9
0.29
LURC002
WAX03128
52
56
0.6
39600
14
117
798
25
10
15
39
4
375
1
339
94
55
5
1
8
0.19
LURC002
WAX03129
56
60
0.59
34500
10
105
809
21
9
14
33
4
376
1
318
87
49
4
1
7
0.18
LURC002
WAX03130
60
64
0.06ƗƗ
29600
9
89
582
19
8
11
26
3
266
1
257
66
38
4
1
7
0.14Ɨ
LURC002
WAX03131
64
68
0.25ƗƗƗ21000 ▪
7
91
500
18
8
9
25
3
247
1
222
61
34
3
1
8
0.12
LURC002
WAX03132
68
72
0.33ƗƗƗ
125500
10
135
1890
29
11
22
51
5
1080
1
637
183
83
6
1
7
0.42
LURC002
WAX03133
72
76
0.76
59400
4
114
963
26
11
17
43
4
468
1
380
103
62
5
1
7
0.22
LURC002
WAX03134
76
80
0.41
20100▪
4
97
645
21
9
10
30
3
297
1
262
72
41
4
1
8
0.15
LURC002
WAX03136
84
88
0.13ƗƗƗ
9100 ▪
3
61
362
13
6
7
16
2
180
1
149
42
23
2
1
5
0.09
LURC002
WAX03137
88
92
0.24ƗƗƗ15450 ▪
3
71
382
16
7
8
20
3
176
1
165
45
29
3
1
6
0.09
LURC002
WAX03138
92
96
0.06ƗƗ
35200
3
50
480
12
4
9
20
2
213
0
209
56
30
3
0
3
0.11Ɨ
LURC002
WAX03139
96
100
0.01ƗƗ
44800
3
60
562
15
5
11
25
2
231
0
254
65
39
3
1
3
0.13Ɨ
LURC002
WAX03141
100
104
0.07ƗƗ
28900
3
86
562
19
8
11
27
3
236
1
238
63
38
4
1
6
0.13Ɨ
LURC002
WAX03142
104
108
0.43
33100
4
94
654
20
8
12
32
3
287
1
268
71
44
4
1
6
0.15
LURC002
WAX03143
108
112
0.26ƗƗƗ22900 ▪
4
82
558
18
7
10
26
3
269
1
208
62
34
3
1
6
0.13
LURC002
WAX03144
112
116
0.01ƗƗ
49700
4
68
574
17
5
12
29
3
259
0
288
74
44
4
1
3
0.14Ɨ
LURC002
WAX03145
116
120
1.05
89600
1
94
1030
26
7
21
50
4
460
0
453
116
74
6
1
4
0.23
LURC002
WAX03146
120
124
0.48
47400
2
72
695
17
6
13
32
3
300
1
290
75
47
4
1
4
0.16
LURC002
WAX03147
124
128
0.07ƗƗ
44300
2
55
484
13
5
10
24
2
205
0
227
59
36
3
1
3
0.11Ɨ
LURC002
WAX03148
128
132
0.34
40900
4
61
546
14
5
11
28
2
242
0
226
64
38
3
1
3
0.12
LURC002
WAX03149
132
136
0.01ƗƗ
41800
3
60
542
15
5
11
25
2
232
0
239
63
37
3
1
3
0.12Ɨ
LURC002
WAX03150
136
140
0.07ƗƗ
50400
3
77
551
18
6
13
30
3
251
0
285
74
44
4
1
4
0.14Ɨ
LURC002
WAX03151
140
144
0.33ƗƗƗ
25800
3
84
534
17
7
10
28
3
242
1
215
62
36
3
1
6
0.13
LURC002
WAX03152
144
148
0.34ƗƗƗ22000 ▪
3
95
645
19
8
12
30
3
320
1
250
74
40
4
1
7
0.15
LURC002
WAX03153
148
152
0.35ƗƗƗ
29100
3
110
697
22
10
12
36
4
332
1
275
80
47
4
1
7
0.16
LURC002
WAX03154
152
156
0.31ƗƗƗ
25800
3
72
474
16
7
9
24
3
229
1
199
58
32
3
1
5
0.11
LURC002
WAX03155
156
160
0.25ƗƗƗ15950 ▪
3
76
445
15
7
8
24
3
215
1
185
54
31
3
1
6
0.11
LURC002
WAX03156
160
164
0.32ƗƗƗ20900 ▪
3
82
484
16
7
8
25
3
230
1
202
59
34
3
1
6
0.12
LURC002
WAX03162
180
184
0.22ƗƗƗ20900 ▪
4
73
370
15
7
7
21
3
179
1
162
45
27
3
1
6
0.09
LURC002
WAX03163
184
188
0.2ƗƗƗ
16350 ▪
3
78
313
15
8
7
19
3
152
1
134
38
23
3
1
7
0.08
LURC002
WAX03164
188
192
0.22ƗƗƗ21500 ▪
6
78
795
16
7
10
26
3
435
1
268
83
38
3
1
6
0.18

==> picture [206 x 75] intentionally omitted <==

Hole ID Sample ID Depth Nb2O5 P2O5 Sc2O3 Y2O3 Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sm2O3 Tb2O3 Tm2O3 Yb2O3 TREO
metres % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
LURC002
WAX03165
192
196
0.11ƗƗƗ15400 ▪
6
93
1175
19
8
12
29
3
692
1
378
111
47
4
1
6
0.26
LURC002
WAX03166
196
200
0.01ƗƗ
13350 ▪
2
77
343
16
7
8
21
3
156
1
155
38
25
3
1
7
856Ɨ
LURC002
WAX03167
200
204
0.22ƗƗƗ12550 ▪
2
76
358
14
7
7
20
3
179
1
148
43
25
3
1
6
0.09
LURC002
WAX03168
204
208
0.32ƗƗƗ16800 ▪
3
86
385
17
8
9
23
3
177
1
167
47
30
3
1
7
0.10
LURC002
WAX03169
208
212
0.15ƗƗƗ11300 ▪
2
81
380
16
8
7
21
3
179
1
158
46
27
3
1
7
0.09
LURC002
WAX03170
212
216
0.2ƗƗƗ
9990 ▪
2
83
398
17
8
7
21
3
191
1
159
47
27
3
1
7
0.10
LURC002
WAX03171
216
220
0.4ƗƗƗ●
28200
6
96
456
19
8
11
28
3
208
1
199
56
35
4
1
7
0.11
LURC002
WAX03172
220
224
0.22ƗƗƗ11450 ▪
3
79
521
17
8
8
22
3
262
1
186
56
29
3
1
6
0.12
LURC002
WAX03173
224
228
0.06ƗƗ
7170 ▪
4
72
375
14
7
6
16
2
171
1
152
42
24
2
1
6
0.09Ɨ
LURC002
WAX03174
228
232
0.06ƗƗ
10900 ▪
4
79
364
15
9
7
17
3
166
1
157
41
24
3
1
7
0.09Ɨ
LURC002
WAX03175
232
236
0.14ƗƗƗ14300 ▪
3
83
360
16
7
8
20
3
163
1
151
44
26
3
1
6
0.09
LURC002
WAX03176
236
240
0.09ƗƗƗ
5870 ▪
10
99
433
20
11
7
22
4
212
1
168
49
27
3
1
9
0.11
LURC002
WAX03177
240
244
0.3ƗƗƗ
11350 ▪
7
79
399
16
7
8
20
3
190
1
158
46
26
3
1
7
0.10
LURC002
WAX03178
244
248
0.36ƗƗƗ● 15400 ▪
5
59
404
13
6
7
18
2
180
1
161
47
25
3
1
5
0.09
LURC002
WAX03179
248
252
0.36ƗƗƗ● 17900 ▪
4
48
360
11
5
6
16
2
167
1
146
41
22
2
1
4
0.08
LURC002
WAX03181
252
256
0.27ƗƗƗ12600 ▪
3
33
387
7
3
5
12
1
203
0
140
42
18
2
0
3
0.09
LURC002
WAX03182
256
260
0.06ƗƗ
21800 ▪
5
62
512
14
6
8
20
2
242
1
212
58
31
3
1
4
0.12Ɨ
LURC002
WAX03183
260
264
0.05ƗƗ
26200
4
59
521
14
6
8
20
2
242
1
218
59
31
3
1
4
0.12Ɨ
LURC002
WAX03184
264
268
0.07ƗƗ
18300 ▪
3
56
408
11
5
7
15
2
194
0
167
45
24
2
1
3
0.09Ɨ
LURC002
WAX03185
268
272
0.06ƗƗ
16350 ▪
4
57
420
12
6
7
17
2
198
1
172
45
25
2
1
4
0.1Ɨ
LURC002
WAX03186
272
276
0.33ƗƗƗ17900 ▪
13
37
385
8
4
6
14
1
198
0
152
42
20
2
1
2
0.09
LURC002
WAX03187
276
280
0.29ƗƗƗ17550 ▪
8
46
419
10
4
7
17
2
198
0
165
48
24
2
1
3
0.10
LURC002
WAX03188
280
284
0.03ƗƗ
18500 ▪
6
59
405
13
5
7
17
2
193
1
172
47
25
2
1
4
0.1Ɨ
LURC002
WAX03189
284
288
0.04ƗƗ
17050 ▪
13
44
360
10
4
6
14
2
169
0
155
42
23
2
0
3
0.08Ɨ
LURC002
WAX03190
288
292
0.04ƗƗ
20200 ▪
5
68
452
14
6
8
21
2
218
1
205
55
29
3
1
4
0.11Ɨ
LURC002
WAX03191
292
296
0.05ƗƗ
23400
3
65
456
13
6
9
22
2
216
0
215
57
31
3
1
4
0.11Ɨ
LURC002
WAX03192
296
299
0.06ƗƗ
21200 ▪
7
57
436
12
5
8
20
2
215
0
202
53
29
2
1
3
0.11Ɨ
LURC003
WAX03206
44
48
1.54
13950▪
146
59
670
12
6
6
18
2
366
1
214
67
26
2
1
5
0.16
LURC003
WAX03207
48
52
0.58ƗƗƗ
1920 ▪
39
17
174
3
2
2
4
1
97
0
54
17
6
1
0
2
0.04
LURC003
WAX03209
56
60
0.96
1100▪
25
12
217
3
1
2
4
1
120
0
63
21
6
0
0
1
0.05
LURC003
WAX03210
60
64
0.45ƗƗƗ
570 ▪
21
8
63
1
1
1
2
0
34
0
20
6
3
0
0
1
0.02
LURC003
WAX03211
64
68
0.07ƗƗ●
340 ▪
18
8
52
1
1
1
1
0
29
0
15
5
2
0
0
1
0.01
LURC003
WAX03212
68
72
0.07ƗƗ●
550 ▪
20
9
55
1
1
1
2
0
29
0
17
6
2
0
0
1
0.01
LURC003
WAX03213
72
76
0.07ƗƗ●
210 ▪
17
7
38
1
1
0
1
0
19
0
11
4
2
0
0
1
0.01
LURC003
WAX03214
76
80
0.07ƗƗ●
320 ▪
20
8
58
1
1
1
2
0
30
0
18
6
2
0
0
1
0.01
LURC003
WAX03215
80
84
0.74
320▪
16
11
61
2
1
1
2
0
30
0
19
6
3
0
0
1
0.02
LURC003
WAX03216
84
88
0.07ƗƗ● 13050 ▪
20
24
189
5
2
4
9
1
82
0
80
23
13
1
0
2
0.05
LURC003
WAX03217
88
92
0.35ƗƗƗ
48800
11
57
555
14
4
10
27
2
227
0
233
65
39
3
0
2
0.13
LURC003
WAX03218
92
96
0.07ƗƗ● 18600 ▪
8
26
242
6
2
5
12
1
108
0
102
29
16
1
0
1
0.06
LURC003
WAX03219
96
100
0.07ƗƗ●
25700
11
32
299
8
3
6
15
1
131
0
134
37
21
2
0
1
0.07
LURC003
WAX03221
100
104
0.07ƗƗ
31100
11
36
349
9
3
7
17
1
157
0
177
44
26
2
0
2
0.08Ɨ

==> picture [206 x 75] intentionally omitted <==

Hole ID Sample ID Depth Nb2O5 P2O5 Sc2O3 Y2O3 Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sm2O3 Tb2O3 Tm2O3 Yb2O3 TREO
metres % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
LURC003
WAX03222
104
108
0.02ƗƗ
41600
7
47
424
11
4
8
19
2
195
0
208
53
31
2
0
2
0.1Ɨ
LURC003
WAX03223
108
112
0.02ƗƗ
50600
8
52
534
13
4
11
26
2
235
0
267
68
40
3
0
2
0.13Ɨ
LURC003
WAX03224
112
116
0.07ƗƗ●
52000
13
53
538
14
4
10
27
2
221
0
229
63
37
3
1
2
0.12
LURC003
WAX03225
116
120
0.07ƗƗ●
41000
12
45
458
11
4
8
21
2
201
0
198
56
31
3
0
2
0.11
LURC003
WAX03226
120
124
0.05ƗƗ
64400
11
73
833
18
6
13
32
3
426
0
325
92
49
4
1
4
0.19
LURC003
WAX03227
124
128
0.07ƗƗ● 124000
11
124
1360
31
11
22
57
5
624
1
551
155
84
7
1
6
0.30
LURC003
WAX03228
128
132
0.07ƗƗ●
53200
12
51
569
14
4
10
27
2
244
0
237
67
39
3
0
2
0.13
LURC003
WAX03229
132
136
0.67ƗƗƗ
46500
5
50
476
13
4
10
25
2
206
0
214
59
36
3
0
2
0.11
LURC003
WAX03230
136
140
0.07ƗƗ
45300
10
49
480
12
4
10
24
2
211
0
240
61
36
3
0
2
0.11Ɨ
LURC003
WAX03231
140
144
0.01ƗƗ
162000
5
157
1445
40
12
30
77
6
652
1
671
176
115
9
1
7
0.34
LURC003
WAX03232
144
148
0.06ƗƗ
43100
14
43
422
11
4
8
21
2
187
0
213
54
32
2
0
2
0.1Ɨ
LURC003
WAX01016
148
149
0.2ƗƗƗ
62300
13
59
539
15
5
11
28
2
229
0
264
64
41
3
0
3
0.13
LURC003
WAX01017
149
150
0.35ƗƗƗ
68300
10
60
582
16
5
11
31
2
244
0
276
69
44
3
0
3
0.14
LURC003
WAX01018
150
151
0.25ƗƗƗ
26900
12
27
294
7
2
5
13
1
128
0
133
33
20
1
0
1
0.07
LURC003
WAX01019
151
152
0.74
34700
16
34
332
8
3
6
17
1
146
0
149
37
22
2
0
1
0.08
LURC003
WAX01020
152
153
0.88
88000
16
81
661
19
7
13
35
3
277
0
311
76
49
4
1
4
0.16
LURC003
WAX01021
153
154
0.56
68100
17
69
572
16
6
11
29
3
243
0
260
65
40
3
1
3
0.13
LURC003
WAX01022
154
155
0.87
72400
10
74
590
18
6
12
31
3
251
0
272
67
44
3
1
3
0.14
LURC003
WAX01023
155
156
0.15ƗƗƗ
36900
17
39
375
9
3
7
17
2
167
0
163
43
25
2
0
2
0.09
LURC003
WAX01024
156
157
0.57
53400
20
65
460
14
6
9
25
2
197
1
213
52
35
3
1
4
0.11
LURC003
WAX01025
157
158
0.28ƗƗƗ
69200
13
71
553
17
6
11
30
2
232
0
264
65
42
3
0
3
0.13
LURC003
WAX01026
158
159
0.16ƗƗƗ
50900
15
50
460
12
4
8
23
2
202
0
213
54
33
3
0
2
0.11
LURC003
WAX01027
159
160
0.08ƗƗƗ
41600
22
42
402
11
3
7
19
2
181
0
180
47
26
2
0
2
0.09
LURC003
WAX01028
160
161
0.01ƗƗƗ
32200
16
35
298
9
3
6
16
1
130
0
142
34
22
2
0
2
0.07
LURC003
WAX01029
161
162
0.05ƗƗƗ
73100
29
95
644
21
9
13
34
3
281
1
293
73
46
4
1
7
0.16
LURC003
WAX01030
162
163
1.02
16450▪
21
45
321
9
4
6
14
2
144
0
131
35
20
2
0
3
0.08
LURC003
WAX01031
163
164
0.87
38200
17
49
449
12
4
8
21
2
196
0
196
50
33
3
0
3
0.10
LURC003
WAX01032
164
165
0.54
42400
20
57
430
13
5
8
23
2
187
0
197
48
33
3
1
3
0.10
LURC003
WAX01033
165
166
0.23ƗƗƗ15300 ▪
17
23
244
6
2
4
11
1
107
0
109
27
17
1
0
1
0.06
LURC003
WAX01034
166
167
0.29ƗƗƗ13100 ▪
14
20
223
5
2
4
10
1
99
0
99
25
14
1
0
1
0.05
LURC003
WAX01035
167
168
0.22ƗƗƗ20000 ▪
11
25
262
6
2
5
12
1
116
0
119
30
18
1
0
1
0.06
LURC003
WAX01036
168
169
0.92
94200
4
95
850
24
8
18
46
4
334
0
391
97
65
5
1
3
0.19
LURC003
WAX01037
169
170
0.41
40200
11
45
417
12
4
9
22
2
177
0
201
48
32
3
0
2
0.10
LURC003
WAX01038
170
171
1.84
66500
10
66
696
18
5
13
35
3
296
0
318
79
49
4
0
3
0.16
LURC003
WAX01039
171
172
0.41
89400
7
91
937
25
7
17
46
3
375
0
420
105
66
5
1
4
0.21
LURC003
WAX01040
172
173
0.37
54500
11
87
628
20
8
12
32
3
269
1
283
72
44
4
1
6
0.15
LURC003
WAX01041
173
174
0.79
76300
7
101
821
25
9
16
42
4
339
1
353
91
60
5
1
6
0.19
LURC003
WAX01042
174
175
1.54
88700
2
87
953
23
7
17
44
3
391
0
408
104
62
5
1
3
0.21
LURC003
WAX01043
175
176
0.22ƗƗƗ
30900
17
36
358
9
3
7
18
1
157
0
169
42
27
2
0
2
0.08
LURC003
WAX01044
176
177
0.09ƗƗƗ
27200
13
30
334
7
2
6
15
1
152
0
153
39
25
2
0
1
0.08
LURC003
WAX01045
177
178
0.19ƗƗƗ
98300
11
98
946
27
8
19
49
4
379
0
435
107
69
6
1
4
0.22

==> picture [206 x 75] intentionally omitted <==

Hole ID Sample ID Depth Nb2O5 P2O5 Sc2O3 Y2O3 Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sm2O3 Tb2O3 Tm2O3 Yb2O3 TREO
metres % ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
LURC003
WAX01046
178
179
0.24ƗƗƗ
66200
13
66
628
17
5
12
33
2
266
0
293
75
46
4
0
3
0.15
LURC003
WAX01047
179
180
0.18ƗƗƗ
59400
16
73
568
18
7
12
32
3
235
1
271
67
44
4
1
4
0.14
LURC003
WAX01048
180
181
0ƗƗƗ
1700 ▪
20
42
105
7
4
2
7
1
52
1
50
12
9
1
1
4
0.03
LURC003
WAX01051
181
182
0.07ƗƗƗ
99700
16
135
1025
31
12
19
55
5
407
1
462
114
73
6
1
8
0.24
LURC003
WAX01052
182
183
0.22ƗƗƗ
67800
19
71
670
19
6
13
36
3
284
0
310
78
49
4
1
3
0.16
LURC003
WAX01053
183
184
0.22ƗƗƗ
71300
21
76
737
20
6
14
38
3
294
0
341
84
52
4
1
3
0.17
LURC003
WAX01054
184
185
0.06ƗƗƗ
88500
12
91
903
24
8
18
47
3
357
0
405
100
65
5
1
4
0.20
LURC003
WAX01055
185
186
0.07ƗƗƗ
56400
17
61
607
17
5
12
31
2
258
0
281
71
43
3
0
2
0.14
LURC003
WAX01056
186
187
0.43
55000
34
96
741
21
8
13
35
3
308
1
320
81
48
4
1
6
0.17
LURC003
WAX01057
187
188
0.43
34300
26
57
521
14
5
9
24
2
227
0
227
58
34
3
1
3
0.12
LURC003
WAX01058
188
189
0.27ƗƗƗ
43200
19
55
518
13
4
9
24
2
228
0
240
60
37
3
1
3
0.12
LURC003
WAX01059
189
190
0.15ƗƗƗ
35600
15
42
404
11
3
7
20
2
176
0
193
48
30
2
0
2
0.10
LURC003
WAX01060
190
191
0.14ƗƗƗ
34300
20
49
449
12
4
8
21
2
200
0
204
51
32
2
0
3
0.11
LURC003
WAX01061
191
192
0.27ƗƗƗ18500 ▪
31
54
351
11
6
6
15
2
156
1
151
40
23
2
1
4
0.09
LURC003
WAX01062
192
193
0.35ƗƗƗ
37600
24
66
450
14
6
8
23
2
197
1
208
51
34
3
1
5
0.11
LURC003
WAX01063
193
194
0.33
48600
22
53
499
14
5
9
26
2
211
0
244
59
37
3
0
2
0.12
LURC003
WAX01064
194
195
0.86
60700
15
69
654
18
6
12
32
3
281
0
307
77
49
4
0
3
0.15
LURC003
WAX01065
195
196
0.44
32400
20
44
476
11
4
8
22
2
208
0
213
55
32
2
0
2
0.11
LURC003
WAX01066
196
197
0.01ƗƗ
37800
21
43
512
12
4
9
22
2
218
0
245
64
36
3
0
2
0.12Ɨ
LURC003
WAX01067
197
198
0.02ƗƗ
46700
22
53
539
14
5
11
27
2
249
0
292
75
44
3
0
3
0.13Ɨ
LURC003
WAX01068
198
199
0.05ƗƗ
17350 ▪
27
72
358
14
7
6
18
3
151
1
168
45
26
3
1
7
0.09Ɨ
LURC003
WAX01069
199
200
0.06ƗƗ
36700
20
90
528
20
9
10
27
3
208
1
258
67
41
4
1
7
0.13Ɨ
LURC003
WAX01070
200
201
0.04ƗƗ
17000 ▪
19
39
362
9
4
6
15
2
160
0
162
44
23
2
0
3
0.08Ɨ
LURC003
WAX01071
201
202
0.01ƗƗ
20800 ▪
13
29
294
8
2
5
13
1
124
0
137
34
20
2
0
2
0.07Ɨ
LURC003
WAX01072
202
203
0ƗƗ
18200 ▪
16
33
295
9
3
5
14
1
123
0
137
35
21
2
0
2
0.07Ɨ
LURC003
WAX01073
203
204
0.01ƗƗ
29800
16
38
378
10
4
7
18
2
156
0
177
44
27
2
0
2
0.09Ɨ
LURC003
WAX01074
204
205
0.02ƗƗ
34700
13
40
419
11
4
7
19
2
174
0
198
49
29
2
0
2
0.1Ɨ
LURC003
WAX01075
205
206
0.02ƗƗ
7750 ▪
17
15
210
4
1
3
7
1
94
0
91
24
12
1
0
1
0.05Ɨ
LURC003
WAX01076
206
207
0.01ƗƗ
15950 ▪
9
57
204
12
6
5
14
2
81
1
102
25
17
2
1
6
0.05Ɨ
LURC003
WAX01077
207
208
0.04ƗƗ
38600
12
79
542
18
7
9
26
3
212
1
251
63
38
3
1
6
0.13Ɨ
LURC003
WAX01078
208
209
0.13ƗƗƗ
33700
11
89
877
20
9
12
32
3
368
1
329
91
49
4
1
7
0.19
LURC003
WAX01079
209
210
0.01ƗƗ
21300 ▪
7
64
328
13
6
6
17
2
130
1
153
38
24
2
1
6
0.08Ɨ
LURC003
WAX01080
210
211
0.01ƗƗ
34700
13
83
532
18
8
9
25
3
230
1
243
62
36
3
1
7
0.13Ɨ
LURC003
WAX01081
211
212
0.19ƗƗƗ
51300
10
105
594
23
9
12
33
4
246
1
274
69
45
4
1
7
0.14
LURC003
WAX01082
212
213
0.29ƗƗƗ
70800
12
118
658
27
11
14
41
4
270
1
321
79
54
5
1
8
0.16
LURC003
WAX01083
213
214
0.28ƗƗƗ
43700
17
95
528
20
9
11
31
3
227
1
252
63
43
4
1
6
0.13
LURC003
WAX01084
214
215
0.34ƗƗƗ20200 ▪
18
65
465
14
6
7
20
2
208
1
200
52
31
3
1
6
0.11
LURC003
WAX01085
215
216
0.3ƗƗƗ
69200
14
98
875
25
9
15
43
4
354
1
374
96
58
5
1
7
0.20

==> picture [603 x 84] intentionally omitted <==

----- Start of picture text -----

ASX RELEASE
----- End of picture text -----

==> picture [238 x 84] intentionally omitted <==

Table 3: Detailed Assay Results (results not displayed below are considered to contain no significant anomalism) P1 Target RC Drilling Results – PARC001, PARC002, PARC004

Hole ID Sample ID Depth Cu Ni Zn Ce2O3 Dy2O3 Er2O3 Eu2O3 Gd2O3 Ho2O3 La2O3 Lu2O3 Nd2O3 Pr2O3 Sc2O3 Sm2O3 Tb2O3 Tm2O3 Y2O3 Yb2O3 TREO
metres ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm Ppm ppm ppm ppm ppm ppm %
From
To
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
ICP
Calc
PARC001
WAX03009
32
36
65
84
196
199
27
17
5
26
6
145
2
136
34
32
23
4
2
222
13
0.09
PARC001
WAX00109
104
105
22
514
196
259
5
2
3
9
1
130
0
104
29
34
13
1
0
28
1
0.06
PARC001
WAX00110
105
106
13
769
290
206
7
3
4
11
1
100
0
98
25
25
15
1
0
34
2
0.05
PARC001
WAX00111
106
107
37
633
303
200
6
2
4
10
1
101
0
95
24
29
15
1
0
29
1
0.05
PARC001
WAX00118
113
114
82
659
171
165
6
2
4
9
1
83
0
79
19
29
14
1
0
26
1
0.04
PARC001
WAX00119
114
115
9
712
214
180
9
4
5
11
1
85
0
86
22
34
15
2
0
39
2
0.05
PARC001
WAX00120
115
116
22
475
122
143
6
2
3
8
1
69
0
69
18
36
12
1
0
28
2
0.04
PARC001
WAX00121
116
117
7
287
77
199
5
2
3
8
1
99
0
88
23
35
13
1
0
21
1
0.05
PARC001
WAX00122
117
118
41
245
75
186
6
2
3
8
1
92
0
80
21
31
13
1
0
27
2
0.05
PARC001
WAX00123
118
119
17
344
120
2470
17
5
19
37
3
1260
0
770
242
41
80
4
1
61
3
0.50
PARC001
WAX00124
119
120
10
800
238
217
10
4
6
14
2
102
0
106
26
30
20
2
0
50
3
0.06
PARC001
WAX00125
120
121
10
732
235
207
12
5
6
15
2
97
0
106
25
26
20
2
1
57
3
0.06
PARC001
WAX00142
137
138
147
215
98
252
6
3
4
10
1
121
0
107
29
35
16
1
0
27
2
0.06
PARC001
WAX00143
138
139
94
656
133
157
5
2
4
9
1
76
0
77
19
31
13
1
0
24
1
0.04
PARC001
WAX00144
139
140
46
201
104
157
6
3
3
8
1
78
0
70
18
33
12
1
0
30
2
0.04
PARC001
WAX00148
143
144
227
208
127
109
5
2
2
7
1
54
0
49
13
41
9
1
0
28
2
0.03
PARC001
WAX00151
144
145
605
50
95
47
8
5
2
7
2
20
1
27
6
66
7
1
1
46
4
0.02
PARC001
WAX00152
145
146
293
40
85
53
5
3
2
5
1
25
0
26
6
37
5
1
0
32
3
0.02
PARC001
WAX00182
175
176
5
9
33
574
9
3
4
17
1
262
0
276
76
14
36
2
0
36
2
0.13
PARC001
WAX00183
176
177
12
13
38
370
7
3
2
12
1
162
0
171
47
12
23
1
0
31
2
0.08
PARC001
WAX00184
177
178
6
17
35
498
8
3
3
15
1
212
0
227
63
15
29
2
0
37
2
0.11
PARC001
WAX00185
178
179
8
38
38
460
8
3
3
15
1
196
0
211
58
13
28
2
0
34
2
0.10
PARC001
WAX00186
179
180
5
500
129
415
8
3
5
13
1
184
0
179
50
34
24
2
0
38
2
0.10
PARC001
WAX00187
180
181
45
387
115
280
6
2
4
9
1
122
0
129
35
41
17
1
0
26
2
0.07
PARC001
WAX00188
181
182
75
300
143
378
9
4
3
14
1
165
0
175
48
23
24
2
0
42
3
0.09
PARC001
WAX00189
182
183
43
21
55
520
11
5
2
17
2
222
1
236
65
12
30
2
1
60
4
0.12
PARC001
WAX00190
183
184
6
17
51
445
10
4
2
15
2
188
0
201
56
10
27
2
0
48
3
0.10
PARC001
WAX00191
184
185
5
14
56
419
9
4
2
14
2
181
0
194
54
10
26
2
0
48
3
0.10
PARC001
WAX00192
185
186
4
16
54
446
10
4
2
15
2
194
0
205
57
11
27
2
1
51
3
0.10
PARC002
WAX03355
224
228
637
18
91
56
4
3
1
4
1
28
0
23
6
10
4
1
0
26
2
0.02
PARC004
WAX03379
76
80
208
46
1310
125
6
3
2
7
1
58
0
54
13
36
9
1
0
31
3
0.03
PARC004
WAX03381
80
84
55
100
2680
123
7
4
2
8
1
54
0
57
14
38
10
1
0
35
3
0.04
PARC004
WAX01775
211
212
421
23
176
80
3
1
1
5
1
38
0
33
9
14
6
1
0
15
1
0.02

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ASX RELEASE
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About WA1

WA1 Resources Ltd is based in Perth, Western Australia and was admitted to the official list of the Australian Securities Exchange (ASX) in February 2022. WA1’s shares are traded under the code WA1.

WA1’s objective is to discover a Tier 1 deposit in Western Australia’s underexplored regions and create value for all stakeholders. We believe we can have a positive impact on the remote communities within the lands on which we operate. We will execute our exploration using a proven leadership team which has a successful track record of exploring in WA’s most remote regions.

Forward-Looking Statements

This ASX Release may contain certain “forward-looking statements” which may be based on forward-looking information that are subject to a number of known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those presented here. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. For a more detailed discussion of such risks and other factors, see the Company’s Prospectus and Annual Reports, as well as the Company’s other ASX Releases. Readers should not place undue reliance on forward-looking information. The Company does not undertake any obligation to release publicly any revisions to any forward-looking statement to reflect events or circumstances after the date of this ASX Release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 WA1 RESOURCES LTD | ABN: 51 646 878 631 | WWW.WA1.COM.AU | ASX: WA1 A: L2 55 CARRINGTON ST NEDLANDS WA 6009 P: +61 8 6478 7866 E: [email protected] A: 2C LOCH ST, NEDLANDS WA 6009 P: +61 8 6478 7866 E: [email protected]

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria Commentary
Sampling techniques
All geological information referred to in this ASX Announcement
was derived from a reverse circulation drill program.

From every metre drilled a 2-3kg sample (split) was sampled into a
calico bag via the rig mounted cone splitter.

A 4m composite sample was collected using an aluminium scoop
to sub sample each spoil pile located on the ground adjacent to
the rig. Average sample weights are about 2-2.5kg.

Single metre samples were also collected and assayed as
determined by the site geologist.

Comments on the mineralisation are observations of the major
mineral(s) apparent in the RC chips.

The cover sequence was not composite sampled. The original
metre splits have now been submitted to ALS Laboratories for
analysis.

Samples have been sent to the laboratory for assay and will further
inform geological understanding and interpretation.

Laboratory Analysis - Samples were initially submitted for 4 acid
digest 61 element suite with REE’s - ALS method - ME-MS61r.
Samples that triggered the upper detection limit for Ce
(>500ppm) and Nb (>500ppm) underwent overlimit analysis via
lithium borate fusion (ME-MS85), where Nb triggered the upper
detection limit (>5000ppm) XRF was used for the final
determination via ALS method ME-XRF30. The phosphorus
overlimit method used was P-OG62.

All 1 metre samples from surface to EOH have been submitted to
ALS Laboratories in Perth for analysis by lithium borate fusion (ME-
MS81) with over limits determined by XRF (ALS Method ME-MS85).

All samples were initially analysed via ME-MS61r, however, upon
internal review ALS advised that Nb values were under reported
due to the partial 4-acid digest.
Drilling techniques
Reverse Circulation (RC) drilling was completed at all holes to a
diameter of 114mm.
Drill sample recovery
Sample recoveries are visually estimated for each metre with poor
or wet samples recorded in sample log sheets.

The sample cyclone was routinely cleaned at the end of each 6m
rod and when deemed necessary.

No relationship has been determined between sample recovery
and the mineralisation returned.

At Luni sample recovery was poor in the cover sequence where
water was abundant. This was recorded on the sample sheet.

LURC002 – wet sample 48-53m, damp sample 53-70m, wet and
poor sample recovery 148-184m, damp sample – 184–299m.
Logging
Geological logging of drill holes was done on a visual basis with
logging including lithology, mineralogy, texture, deformation,
alteration, mineralisation, veining, colour and weathering.

Logging of drill chips is qualitative and based on the presentation
of representative chips retained for all 1m sample intervals in the
chip trays.

All drill holes were logged in their entirety.

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Criteria Commentary
Sub-sampling
techniques and sample
preparation
RC Drilling

From every metre drilled, a 2-3kg sample was sub-sampled into a
calico bag via the drill rig cyclone splitter.

QAQC in the form of CRMs (OREAS Standards) were inserted at a
rate of 1:50 samples.

4m composite sampling was completed from spoil piles with
samples submitted to the laboratory determined by the site
geologist. Single metre samples were also collected and assayed
as determined by the site geologist.
Quality of assay data
and laboratory tests

All samples were initially analysed via ME-MS61r, however, the
partial digest failed to liberate all contained Nb. Where the upper
detection limit for Nb was triggered, samples underwent lithium
borate fusion a total digest which highlighted discrepancies
between the results of the partial and total digestion methods.
This resulted in initial under-reporting, select samples have since
been analysed via lithium borate fusion.

All 1m splits will be analysed via lithium borate fusion with XRF
determination where required, both are methods suitable for
Niobium and REE analysis. Nb assays >500ppm underwent lithium
borate fusion analysis and samples >5000ppm had XRF
determinations via ME-XRF30 The phosphorus overlimit used was
P-OG62.

The element promethium (Pm) is not included in the assays or
TREO calculations.

Standard laboratory QAQC was undertaken and monitored by the
laboratory and then by WA1 upon receipt of assay results.

Company standards were inserted and analysed as part of the ME-
MS61r suite. No standards were inserted into the ME-MS85 and
ME-XRF30 sequences as samples were not analysed via these
methods en masse. Instead, for the lithium borate fusion and the
ME-XRF methods, the laboratory standards have been reviewed by
the company and have passed internal ALS QAQC checks.

Lab QAQC protocol for XRF analysis includes a quartz blank at the
beginning of every run, whilst the XRF is calibrated using internal
lab standards.

It is suspected samples that underwent ME-MS61r are significantly
underreporting for Nb, therefore failing to trigger overlimit
analyses. All 1m split samples will be analysed via lithium borate
fusion with ICP or XRF determination where appropriate.

Over-limit assays were completed via Lithium Borate Fusion ALS
Method ME-MS85), where the upper detection limit was exceeded
XRF determinations were completed via ALS Method ME-XRF30

Table 2 notes where method ME-XRF30 was used and reported.
Verification of sampling
and assaying

Drill chips have been viewed and assessed by WA1’s Exploration
Manager for mineralogy and alteration.

Mineralised intersections have been verified against the downhole
geology.

Independent petrographic analysis of selected drill chips is being
undertaken by A&A Crawford Geological Research Consultants Pty
Ltd.

Portable XRF readings were taken in the field to aid interpretation.

Logging and sampling was completed manually in the field and
then recorded directly into a digital logging system.

No twinned holes have been drilled at this time.

No sample bias is known at this time.

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Criteria Commentary
Location of data points
Drill hole collars were surveyed and recorded using a DGPS.

All co-ordinates are provided in the MGA94 UTM Zone 52 co-
ordinate system with an estimated accuracy of +/-5m.

Azimuth and dip of the drill hole was recorded after completion of
the hole using a gyro. A reading was taken every 50m with an
accuracy of +/-1 degree azimuth and +/-0.3 degree dip.
Data spacing and
distribution

See drill hole table for hole position and details.

Data spacing at this stage is not suitable for Mineral Resource
Estimation.
Orientation of data in
relation to geological
structure

The orientation of mineralisation is poorly constrained with only
three RC holes having been drilled at the Luni and P1 targets,
respectively.

See drill hole table for hole details and the text of this
announcement for discussion regarding the orientation of holes.

Drill holes were designed based on observations from modelled
geophysical data.

True and apparent widths have not been interpreted from the
available data.
Sample security
Sample security is not considered a significant risk with WA1 staff
present during collection.

All geochemical samples were collected, bagged and sealed by
WA1 staff, and delivered to Port Hedland for haulage directly to
ALS Laboratories in Perth.

1m splits were stored in a secure location.
Audits or reviews
The program is reviewed on an ongoing basis by senior WA1 staff.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria Commentary
Mineral tenement and
land tenure status

All work completed and reported in this ASX Announcement was
completed on E80/5173 which is 100% owned by WA1 Resources
Ltd.

The Company also currently holds two further granted Exploration
Licences and eight Exploration Licence Applications within the
area of the West Arunta Project.
Exploration done by
other parties

The West Arunta Project has had limited historic work completed
within the Project area with the broader area having exploration
focused on gold, base metals, diamonds and potash.

Significant previous explorers of the Project area include Beadell
Resources and Meteoric Resources. Only one drill hole (RDD01)
has been completed within the tenement area by Meteoric in
2009, and more recently a second hole proximate to the Project by
Encounter Resources Ltd in 2020.

Most of the historic work was focused on the Urmia and Sambhar
Prospects with historic exploration (other than RDD01) being
limited to geophysical surveys and surface sampling.

Historical exploration reports are referenced within the WA1
Resources Ltd Prospectus dated 29 November 2021 which was
released by ASX on 4 February 2022.
Geology
The West Arunta Project is located within the West Arunta
Orogen, representing the western-most part of the Arunta Orogen
which straddles the Western Australia-Northern Territoryborder.

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Criteria Commentary

Outcrop in the area is generally poor, with bedrock largely covered
by Tertiary sand dunes and spinifex country of the Gibson Desert.
As a result, geological studies in the area have been limited, and a
broader understanding of the geological setting is interpreted
from early mapping as presented on the MacDonald (Wells, 1968)
and Webb (Blake, 1977 (First Edition) and Spaggiari et al., 2016
(Second Edition)) 1:250k scale geological map sheets.

The West Arunta Orogen is considered to be the portion of the
Arunta Orogen commencing at, and west of, the Western
Australia-Northern Territory border. It is characterised by the
dominant west-north-west trending Central Australian Suture,
which defines the boundary between the Aileron Province to the
north and the Warumpi Province to the south.

The broader Arunta Orogen itself includes both basement and
overlying basin sequences, with a complex stratigraphic, structural
and metamorphic history extending from the Paleoproterozoic to
the Paleozoic (Joly et al., 2013).
Drill hole Information
Refer to Table 1 for drill hole details.
Data aggregation
methods

Significant intercepts are weight averaged by length.

No metal equivalents have been reported.
Relationship between
mineralisation widths
and intercept lengths

The true thickness of the mineralisation intersected in the drill
hole is not currently able to be calculated due to limited data.
Diagrams
Refer to Figures provided within this ASX Announcement.
Balanced reporting
All meaningful information has been included in the body of the
text.
Other substantive
exploration data

All material data and information has been included in the body of
this ASX Announcement.

No metallurgical assessments have been completed.
Further work
Further interpretation of drill data and assay results will be
completed over the coming months, including detailed
petrographic analysis.

Additional geophysical surveys are planned to be completed to aid
interpretation and future work programs.

1m split samples will be assayed for intervals of interest.

Additional exploration drilling will be planned.

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