WA1 Resources Expands Indicated Luni Niobium Resource to 93 Mt at 1.32% Grade

Significant Upgrade to Indicated Resource at Luni

WA1 Resources Ltd (ASX:WA1) has unveiled a substantial update to its Mineral Resource Estimate (MRE) for the Luni Niobium Project in Western Australia, lifting the Indicated component by 20 million tonnes to 93 Mt at 1.32% Nb2O5. This includes a notably enhanced high-grade subset of 35 Mt at 2.57% Nb2O5, underscoring the deposit's quality and scale. The total resource remains unchanged at 220 Mt at 1.0% Nb2O5, maintaining Luni's position as a globally significant niobium asset.

The updated MRE is underpinned by a rigorous drilling campaign exceeding 52,000 metres across 456 drillholes, predominantly diamond core and reverse circulation methods, which have boosted geological confidence and refined the deposit model. This extensive dataset has enabled WA1 to classify 57% of the contained niobium as Indicated, a critical step forward in de-risking the project and advancing towards Ore Reserve declaration.

WA1’s Managing Director, Paul Savich, highlighted the methodical approach to resource development, noting the "step-change in the geological model" and the strategic focus on defining the highest-value, lowest-risk development pathway. The company is concurrently progressing mining studies and metallurgical testwork to support a robust development case.

Geological and Resource Details

The Luni deposit extends approximately 3.7 kilometres east-west and 1.4 kilometres north-south, with mineralised units averaging 30 metres thick and reaching depths of up to 190 metres. The Indicated resource is split between two zones, with the western zone, the focus of this update, now measuring about 1.7 km by 0.5 km and featuring mineralisation averaging 35 metres thick.

The resource estimate excludes fresh rock at depth and lateral extensions identified by 2025 aircore drilling due to sample quality concerns, suggesting upside potential with further drilling. Ongoing infill drilling aims to define a Measured resource component in the high-grade eastern zone by late 2026, which is anticipated to host initial mining activities.

Mining and Metallurgical Outlook

The deposit is expected to be mined via conventional open-pit methods, with a significant portion classified as free-dig material. Early geotechnical drilling has informed pit slope parameters, while metallurgical testwork continues to validate processing routes to produce ferroniobium or niobium oxide concentrates. This aligns with industry-standard beneficiation and refining processes, including flotation and aluminothermic conversion, to yield high-purity products.

Environmental and heritage assessments are well advanced, with no current impediments identified. WA1 maintains active engagement with native title holders, including the Tjamu Tjamu and Parna Ngururrpa Aboriginal Corporations, supporting a collaborative development approach.

Strategic Positioning in the Niobium Market

Niobium is a critical metal essential to steel alloying and emerging battery technologies, with global supply dominated by Brazil. Luni’s scale and grade position it to play a meaningful role in diversifying supply chains. WA1’s resource update follows a series of high-grade drilling successes earlier this year, which have steadily built confidence in the project’s development trajectory and were detailed in recent reports highlighting a strong cash position and government recognition as a Major Project. These developments reinforce WA1’s strategic momentum in the critical metals space.

While the current MRE excludes some potential extensions and pending assay results, the company’s systematic approach to drilling and resource refinement suggests further resource growth and classification upgrades are possible. The focus on converting Indicated resources into Ore Reserves will be a key milestone to watch as WA1 advances pre-development studies and infrastructure planning.

WA1 Resources’ latest MRE update for Luni thus represents a significant technical and strategic step forward, building on a foundation of detailed geological work and robust drilling programs that have progressively enhanced resource confidence and project viability.