Reach Resources: No longer just a nearology play – this thing has lithium in it!
Reach Resources CEO Jeremy Bower on 2GB & 6PR Bulls N' Bears Report
Listen to ASX-listed Reach Resources CEO Jeremy Bower talk to Matt Birney on the Bulls N’ Bears Report about Reach’s project that is wedged between two companies associated with two titans of WA’s mining exploration scene.
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Reach Resources holds ground in WA’s Gascoyne region where it is chasing critical battery minerals including lithium, rare earths and manganese. The company’s holdings include projects on the edge of Hastings’ Yangibana rare earths project and another, known as Morrissey Hill, that borders Delta Lithium’s Yinnetharra lithium project that set that company’s share price alight last year. And if Reach’s recent announcement is anything to go by, it seems that Morrissey Hill might be something more than just a nearology play.
RADIO INTERVIEW - TRANSCRIPT
Matt Birney - Welcome to Bulls N' Bears brought to you today by lithium and rare earth explorer Reach Resources.
Matt Birney - ASX code: RR1
Matt Birney - I'm Matt Birney and I'm joined now by the CEO of Reach Resources, Jeremy Bower
Matt Birney - Hi Jeremy
Jeremy Bower - Hi Matt
Matt Birney - Okay so Reach Resources holds ground in WA’s Gascoyne region where it is chasing critical battery minerals including lithium, rare earths and manganese. The company’s holdings include projects on the edge of Hastings’ celebrated Yangibana rare earths project and another, known as Morrissey Hill, that borders Delta Lithium’s Yinnetharra lithium project that set that company’s share price alight last year. And if Reach’s recent announcement is anything to go by, it seems that Morrissey Hill might be something more than just a nearology play.
Matt Birney - Okay Jeremy that whole Gascoyne region is really hotting up at the moment and it looks like Reach has locked away ground right in the middle of some of the bigger players. Exactly where is Morrissey Hill and who's around it?
Jeremy Bower - Morrissey Hill is located on Yinnetharra station, hence Yinnetharra lithium prospects around it. We've got approximately 300 kilometers squared of tenure there and as you mentioned, right next door to Delta Lithium formerly Red Dirt Metals to our east and Minerals 260 to our west.
Matt Birney - Now the people behind Delta and Minerals 260 aren't exactly novices when it comes to mineral expiration right?
Jeremy Bower - Correct. David Flanagan chairs Delta Lithium of Atlas Iron fame and Tim Goyder and David Richards head up Minerals 260 formerly Liontown and Chalice. Very experienced campaigners.
Matt Birney - Okay, so you recently announced your Morrissey Hill project actually has some mineralisation on it. What were the best lithium numbers from your latest field campaign up there?
Jeremy Bower - Matt, we identified two main prospects. The Bonzer lithium prospect and the Malibu lithium prospect with numbers going 1.3, 1.4 per cent lithium oxide right up to 2.3 per cent lithium oxide and importantly we have other geochemical pathfinder elements, high caesium, tantalum and rubidium across each of those samples.
Matt Birney - I understand you also stumbled across some copper recently from Morrissey Hill. What do those numbers look like?
Jeremy Bower - Yeah, that's correct. We uncovered a copper gossan with numbers really encouraging up to 33 per cent copper and importantly a historical sample three kilometres to the west on the same fault line hit 18 and a half per cent so we'll follow up with some geochemical surveys in the next week or so to see how far that strike may go.
Matt Birney - I know your neighbours are pretty well cashed up. I think Delta had about $50 million in the bank at last look and Minerals 260 probably close to $20 million so I don't know you might want to shake your tail feather a bit up there you never know what might happen.
Matt Birney - Jeremy Bower from Reach Resources.
Matt Birney - Thanks for joining me on Bulls N' Bears and remember we're only here to give you information, not advice which you should of course seek independently.
Matt Birney - I'm Matt Birney and this is Bulls N' Bears.
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