Nechalacho Project
Regional Upside
The Opportunity
A Potential District Scale Discovery
Recent regional exploration across Nechalacho has identified six new targets, all located outside the current 192.7Mt Tardiff resource, demonstrating that mineralisation extends well beyond the deposit defined to date. The same program also returned the first heavy rare earths found at the project, including high value elements such as dysprosium that are not present in the light rare earth zone at Tardiff. Together these results indicate that Nechalacho is a large rare earth system, and that the resource defined so far represents only one part of it.
2026 Regional Program
High-Grade Results Across Six New Targets
Targets Outside the Resource
The Targets
Six Targets Across Nechalacho
All six targets were defined by grab sampling of surface outcrop during the 2026 program, and all sit outside the Tardiff resource. The three central zones, between Tardiff and North T, have since been drilled for the first time, with those assays still pending. The three regional targets remain at surface and are being advanced toward possible first drilling in Winter 2027.
Central Zones
First drill holes completed in 2026 — assays pending.
R Zone
An outcropping syenite ridge directly north of Tardiff, between 400 and 1,000 metres long and largely unexplored before this program.
12.5% TREO
Including 1.5% Dy2O3, the highest dysprosium result at the project
S Zone
A steep pegmatite structure between Tardiff and North T, last trenched in the 1980s and untouched since.
6,638ppm Nb2O5
The strongest niobium across the three central zones
Cressy Ridge
86.1% HREO
The highest heavy rare earth ratio recorded at Nechalacho
Regional Targets
Surface stage — advancing toward possible first drilling in Winter 2027.
1029A & 1034B
A body of Grace Lake Granite around 4km from Tardiff, where scintillometer surveys recorded radioactivity three to four times background.
29.2% TREO
1201A & BF1
A large area of granite and syenite in the southern project area, previously considered unprospective.
2.9% TREO
Enriched rare earths across a wide footprint
359A & 537A
Structurally controlled outcrops northwest of the North T pit, following a major dyke and fault trend.
1.55% Nb2O5
The single highest niobium grade of the program
Grades shown are peak grab sample results from surface outcrop and are selective by nature. Drilling assays from the central zones are pending.
What Comes Next
A Clear Path Forward
Regional Sampling Complete
A first pass program across Nechalacho identified six new targets outside the Tardiff resource and returned high grade rare earth and niobium results, including the first heavy rare earths found at the project.
First Drilling Underway
The three central zones at R Zone, S Zone and Cressy Ridge have been drilled for the first time. Assays are pending and will determine how these targets are advanced.
Regional Targets to be Matured
The three new regional targets will be progressed through fieldwork across the 2026 season to prepare them for possible first drilling in Winter 2027.
Toward a Larger Resource
Success across these targets has the potential to grow the resource beyond the current 192.7Mt at Tardiff and extend the scale and life of the project.
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