WA1 Resources Strengthens Luni Niobium Project with High-Grade Drilling and Solid Cash Position

Exceptional Drilling Results Bolster Resource Confidence

WA1 Resources Ltd (ASX:WA1) has reported a series of impressive high-grade niobium intersections from infill and step-out drilling at its flagship Luni Niobium Project in Western Australia. Notably, diamond drilling within the existing Indicated Mineral Resource Estimate (MRE) envelope returned standout intervals such as 12.4 metres at 6.1% Nb2O5 and 9.4 metres at 9.3% Nb2O5, reinforcing the deposit’s robust grade profile.

Drilling immediately adjacent to the western Indicated resource boundary also yielded encouraging results, including a substantial 93.1 metres at 2.1% Nb2O5. These findings provide a strong foundation for upgrading additional mineralisation into higher confidence categories ahead of the planned MRE update in the June quarter.

Exploration Extends Mineralisation Beyond Current Limits

Aircore drilling to the east of the current resource envelope has identified continuous mineralisation extending over 400 metres beyond previous boundaries. Intersections such as 28 metres at 2.5% Nb2O5 and 17 metres at 3.8% Nb2O5 highlight the potential for resource growth in this area. The mineralisation is interpreted to be associated with a series of parallel carbonatite dykes, suggesting a more complex and extensive system than previously mapped.

WA1’s drilling to date has largely targeted the weathered oxide zone of the Luni carbonatite, where mineralisation is generally subhorizontal. The company sees significant potential for primary mineralisation at depth, which it plans to test in upcoming drilling programs.

Site Activities and Community Engagement Progress

Site operations paused briefly in late 2025 but resumed early this year, with construction works on the project’s airstrip continuing alongside a work experience program involving Traditional Owners. This initiative aims to deepen community ties and foster future collaboration, reflecting WA1’s commitment to responsible development.

Rainfall delays have pushed back some site works and the start of 2026 drilling, which is now imminent. The upcoming drilling campaign will focus on metallurgical, resource definition, and geotechnical studies critical to advancing project development and permitting.

Financial Position Supports Ongoing Development

WA1 ended the quarter with a cash balance of approximately $131 million, down slightly from $138 million last quarter but sufficient to fund over two years of current spending levels. The company reported $5.7 million spent on exploration and evaluation and $2.1 million on development activities during the quarter.

This strong financial footing, combined with the recent drilling success, positions WA1 well as it moves towards a Mineral Resource update and further project advancement. The company’s focus remains firmly on the Luni Project, with no new on-ground exploration conducted at its broader West Arunta or Madura Projects this quarter.

The recent drilling results build on earlier announcements that set expectations for a significant resource upgrade, as detailed in WA1’s high-grade niobium hits ahead of Luni resource update. These developments continue to underpin the project’s growing profile in the critical minerals sector.