Voltaic Strategic Resources Limited provided an update on its Paddys Well REE Project, located in the Gascoyne region of Western Australia. Assays have been received for the phase 1 rockchips from Paddys Well collected in October 2022, and are highly encouraging. Several samples had TREO >1,000ppm and have expanded Neo target area of potential subsurface occurrence to 2.4 km by 1.5 km, alluding to significant scale potential.

Moreover, the mineralisation appears to have a high proportion of the in-demand `magnet' REEs, namely neodymium (Nd), praseodymium (Pr), terbium (Tb) and dysprosium (Dy), which is favourable for potential economic extraction in the future. The results have expanded our prospective Neo target area of potential subsurface occurrence to 2.4 km by 1.5 km, alluding to significant scale potential. Moreover, 3 new prospects have been identified (Cypher, Link & Switch) which have TREO contours >1,000 ppm and peak TREO.

Moreover, the mineralisation appears to have a high proportion of the in-demand `magnet' REEs, namely Nd, Pr, Tb and Dy and suggests that the source of REEs is analogous to those recently found by neighbour Kingfisher Mining and others in the region. The consistency the MREO:TREO ratio observed from various rock types across the entire Gascoyne region implies a homogenous and high-quality nature to the REE mineralisation and is highly encouraging for potential economic extraction in the future.