Luni Deposit Grows to 220Mt at 1.0% Nb2O5 with 73Mt Indicated – WA1 Reports
WA1 Resources has reported a 10% increase in the Luni niobium deposit resource, with improved grades and confidence in key zones, alongside strategic board appointments and a solid cash position.
- 10% increase in Luni niobium mineral resource estimate
- Indicated resource now 73 Mt at 1.38% Nb2O5 with high-grade zones
- Three drill rigs active to support ongoing exploration and studies
- Appointment of Kathleen Bozanic as Non-Executive Chair
- Cash balance of approximately $73 million at quarter-end
Resource Growth and Quality Enhancement
WA1 Resources Ltd has announced a significant update to its Luni niobium deposit within the West Arunta Project in Western Australia. The latest mineral resource estimate (MRE) reveals a 10% increase in total tonnage to 220 million tonnes at 1.0% Nb2O5, reaffirming Luni’s status as one of the world’s most significant niobium discoveries in over seven decades. Notably, the Indicated resource category now comprises 73 million tonnes at a higher grade of 1.38% Nb2O5, including a substantial high-grade subset of 31 million tonnes at 2.31% Nb2O5. This upgrade reflects improved confidence in the continuity and quality of mineralisation, particularly within the eastern and western high-grade zones.
Ongoing Exploration and Project De-Risking
The company continues to operate three drill rigs, focusing on resource definition and collecting critical data across metallurgy, hydrogeology, geotechnical, environmental, and heritage studies. These efforts are designed to progressively de-risk the project and support forthcoming development studies and permitting processes. While the current MRE is constrained to weathered zones, WA1 acknowledges significant potential remains in the deeper, unweathered mineralisation, which will be targeted in future drilling campaigns.
Corporate Developments and Financial Position
On the corporate front, WA1 Resources reported a robust cash balance of approximately $73 million as of 30 June 2025, underpinning its exploration and evaluation activities. The quarter saw key leadership changes with the appointment of Kathleen Bozanic as Non-Executive Chair, bringing over 30 years of finance and resources industry experience, including senior roles at IGO Ltd and Deloitte. Additionally, Elizabeth Maynard joined as General Counsel and Company Secretary, strengthening the company’s governance and legal expertise. These appointments come as former Chair Gary Lethridge retired, marking a strategic transition in board leadership.
Portfolio Rationalisation
WA1 also streamlined its exploration portfolio by surrendering six tenements within the Madura Project area, focusing resources on its flagship West Arunta Project. The Madura project now comprises one granted exploration licence and two applications, reflecting a more targeted approach to exploration in southeastern Western Australia.
Looking Ahead
With the updated MRE providing a stronger foundation for mining studies and development planning, WA1 Resources is well-positioned to advance the West Arunta Project. The company’s ongoing drilling and comprehensive field programs are expected to further enhance resource confidence and unlock additional value. Meanwhile, the strengthened board and solid financial footing provide stability as WA1 navigates the next phases of project development and market engagement.
Bottom Line?
WA1’s resource upgrade and leadership renewal set the stage for accelerated development, but deeper drilling results will be critical to fully unlock Luni’s potential.
Questions in the middle?
- How will future drilling into fresh mineralisation at depth impact the overall resource and project economics?
- What are the timelines and milestones for advancing development studies and securing permits?
- How might the recent tenement surrenders affect WA1’s exploration strategy and growth prospects?
