AusTRALIAN Queensland Vanadium - Allaru

NewPeak has entered into a binding term sheet to acquire the Allaru Vanadium Project in the Julia Creek vanadium province, northwest Queensland (refer ASX Release 5 December 2024). NewPeak Metals Ltd (ASX:NPM) is excited to announce the acquisition of AusVan Battery Metals Pty Ltd, a transformational move that cements our position as a key player in the critical minerals sector. This strategic acquisition, valued at $5 million in NewPeak shares, secures the Allaru Vanadium Project—a high-potential resource situated in the heart of Queensland’s renowned North West Minerals Province near Julia Creek.

Summary:

• The project includes an Inferred JORC Resource of 710 million tonnes of vanadium.

• Acquisition consideration: $5 million in NewPeak shares at an issue price of 1.65 cents.

• Allaru is situated alongside significant vanadium resources owned by leading companies progressing toward development for the steel and vanadium redox flow battery industries.

• Initial focus on the shallow, oxidized Allaru North project with a typical depth of 12m.

• Vanadium grades range from 0.19% to 0.68% V₂O₅ (wt%), averaging 0.45% V₂O₅ (wt%).

Detail
The Allaru Vanadium Project is an extraordinary asset, boasting an Inferred JORC Resource of 710 million tonnes of vanadium with an average grade of 0.45% V₂O₅ (vanadium pentoxide). This substantial resource offers dual mineralisation domains:

• Shallow weathered vanadium mineralisation with additional potential for molybdenum and rare earth elements (REE).

• Deeper fresh vanadium mineralisation with the prospect of transport fuel co-products.

Located within a region already home to several advanced vanadium projects, Allaru benefits from proximity to established infrastructure and the growing momentum of Queensland’s minerals industry. The 1,498-square-kilometre project area comprises six granted exploration permits and one permit application, providing a robust foundation for future development.

Extensive Exploration History
Allaru’s development is backed by decades of exploration, with a total of 116 drill holes completed to date, including 44 drilled by AusVan in 2021. The exploration data includes 411 core samples and highlights consistent vanadium mineralisation within the Toolebuc Formation, a proven host for high-grade vanadium deposits. The shallow mineralisation, typically just 12 meters below the surface, ensures accessibility and cost-effective development opportunities.

Strategic Advantages
The Allaru Project is more than just a vanadium resource—it is a cornerstone for NewPeak’s broader vision of becoming a leading supplier of sustainable critical minerals. Vanadium’s essential role in steel production and vanadium redox flow batteries aligns with the global shift towards clean energy and industrial sustainability. Moreover, the project’s additional prospects for molybdenum and REEs position it as a diversified asset with potential to contribute to multiple high-growth industries.

Why Allaru Matters
This acquisition is not just about resource ownership—it’s about taking a leadership role in addressing the world's critical mineral needs. Allaru complements NewPeak’s growing portfolio, which includes vanadium and uranium assets in the Northern Territory and rare earth elements in Canada. Together, these projects place NewPeak at the forefront of meeting the increasing global demand for materials essential to future technologies.

NewPeak is poised to play a pivotal role in driving progress through responsible and innovative resource development.

Follow us, as we unlock the immense potential of the Allaru Vanadium Project and solidify our commitment to powering the industries of tomorrow. You can subscribe by clicking the link at the bottom of the page.

For more information, please contact us at info@newpeak.com.au