47.1% Niobium and 9.01% Tantalum Identified in Columbite Rock Chip at North Dam

CuFe Ltd (ASX: CUF) (CuFe or the Company) is pleased to provide an update on the following exploration activities within E15/1495 at North Dam.

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HIGHLIGHTS

• Columbite Rock chip sample ND11 sourced from pegmatite returned significant results for Niobium 47.1 % (Nb) and Tantalum 9.01% (Ta) within the North Dam Project.
• This follows up from previously announced (22 August 2023) rock chips collected from a stream bed which returned results 43.93% Nb and 14.53% Ta.
• Anomalous Nb in soil geochemistry is coincident with out cropping pegmatites within the central area of E15/1495, which will be drill tested in the upcoming RC drill program.
• Preliminary heritage survey report now received and supports performing the planned activities, final report is expected this month, with drilling continuing to be targeted to commence in July.
• Infill soil sampling has been completed in targeted zones and results will be incorporated into the final drill hole plans as results are received.

CuFe Executive Director, Mark Hancock, commented “The recent work by the team at North Dam further illustrates the potential of the tenement and although the results are from a columbite chip it shows the potential of the pegmatites across the tenement to host critical minerals other than lithium. We are eager to start our maiden drilling program to further understand the potential of the region”.

As per ASX announcement dated 28th May 2024 a soil geochemistry review, detailed pegmatite mapping and rock chip sampling was undertaken to identify the source pegmatites that have likely shed the columbite and tantalite rock chips along a 97m narrow stream bed which returned 43.93% Nb and 14.53% Ta from sample S254 (refer to ASX release dated 22nd August 2023). A recent rock chip sample ND11 of columbite was collected directly from an outcropping pegmatite located nearby the Niobium soil anomaly and 100m South East from S254.

The selective sample of columbite from weathered pegmatite is biased and does not represent the true concentration of the overall pegmatite but yielded a Niobium content of 47.1% and Tantalum 9.01% (see Figure 1 and Table 1).

Broader zones of anomalous Niobium (>15ppm and > 20ppm) from soil geochemistry have been interpreted (See Figure 2) and are coincident with outcropping pegmatites. These pegmatites to the West will both be mapped in detail for the presence of columbite and have drill holes planned to intersect them as part of the wider RC program, which is primarily targeting Li2O.

A preliminary report has been received for the recent heritage survey and supports performing the planned activities, with the final report expected this month. Following this, preparatory works can be executed prior to mobilisation of the drilling contractor, with drilling targeted to commence in July.

Infill soil sampling work to assist in definition of the priority drill holes has now been completed and results will be incorporated into the drill plans once received.

Figure 1: Photos columbite and source pegmatite

Table 1: Sample ND11 rock chip niobium and tantalum chemistry.

Figure 2: Location of anomalous Nb rock chip sample and soil anomaly at the North Dam Projects

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