Luni reaffirms its status as a world-class niobium mine

According to Miningnews.net, while the timetable for key processes remains confidential, WA1 Resources has reaffirmed the "world-class status" of the Luni deposit through an updated resource estimate.

Currently, the Luni deposit has an "indicated" ore resource of 73 million mt, with a grade of 1.38% niobium oxide (Nb2O5), including 31 million mt of high-grade ore with a grade of 2.31%.

This high-grade ore section is fully comparable to the world's best niobium deposit, the Araxa niobium mine in Brazil, which has an average grade of 2.5% and is shallowly buried.

The vast majority of the world's niobium supply comes from Araxa.

Currently, the total resource of the Luni deposit is 220 million mt, with a niobium oxide grade of 1%.

WA1 stated that the 2025 drilling program, primarily aimed at delineating resources, is designed to better define key ore sections and further enhance the confidence level of resources in selected high-grade areas.

"We will continue to focus on identifying and confirming the best ore sections to provide a better reserve base for early development," the company said.

"We believe this approach will create the highest value, minimize development risks, and bring better returns to the company, shareholders, and stakeholders," it added.

Meanwhile, mining studies are progressing, although key indicators have not yet been finalized.

The Luni deposit extends 3.6 kilometers east-west and 1.4 kilometers north-south. The ore body generally starts at depths ranging from 30 meters to 80 meters underground, with a maximum depth reaching 180 meters, but the ore body has not been penetrated.