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General mining & base metals

VBX lifts Wuudagu resource 108% with initial D, E and F MRE

VBX Limited (ASX: VBX) has reported an initial Mineral Resource Estimate (MRE) for the Wuudagu D, E and F plateaus in northern Western Australia, lifting the project’s overall Measured and Indicated resource base at Wuudagu by 108% following the 2025 drilling program.

The expanded Wuudagu Measured and Indicated MRE now totals 131.9 Mt at 40.2% Al₂O₃ and 12.6% SiO₂, incorporating the previously reported Wuudagu B and C resources as well as the newly estimated D, E and F plateaus.

The company flagged the larger inventory as a potential enabler for a longer mine life and an increased mining and beneficiation rate of 8–9 Mtpa, to be assessed in the definitive feasibility study (DFS) due in H1 2026.

“The 2025 drilling program has led to a more than doubling of the Measured and Indicated Mineral Resource Estimate at Wuudagu. This is an exceptional outcome and I’d like to acknowledge the efforts of the broader VBX team, including the Wunambal Gaambera Traditional Owners and our consultants and contractors, who have contributed to this achievement,” VBX founder and managing director Ryan de Franck said.

“The Wuudagu D, E and F deposits are thicker and have less overburden than the Wuudagu B and C deposits. They are also higher in alumina and lower in silica which has resulted in an improved, higher grade total Wuudagu Mineral Resource Estimate.”

“Wuudagu’s expanded resource base removes the key constraint which previously limited the mine life to 10 years. Mine planning work is already underway to inform the expanded production profile and mine life at Wuudagu as part of the DFS.”

“Importantly, there is additional exploration prospectivity at Wuudagu, including the 6.6 km2 Plateau G, which is the second largest of all the plateaus within the Wuudagu project area.”

New D, E and F MRE: 37.9 Mt at 41.8% Al₂O₃

SRK Consulting has prepared the initial MREs for Plateaus D, E and F, reporting a combined total of 37.9 Mt at 41.8% Al₂O₃ and 9.7% SiO₂, predominantly in the Indicated category, with a small Inferred component at Plateau F.

By plateau, VBX reported:

  • Wuudagu D: 16.7 Mt (Indicated) at 42.1% Al₂O₃ and 9.6% SiO₂
  • Wuudagu E: 6.7 Mt (Indicated) at 41.3% Al₂O₃ and 9.5% SiO₂
  • Wuudagu F: 12.7 Mt (Indicated) at 42.6% Al₂O₃ and 9.7% SiO₂, plus 1.8 Mt (Inferred) at 35.2% Al₂O₃ and 12.2% SiO₂
  • VBX highlighted that the D, E and F resource is 6% higher in alumina and 30% lower in silica compared with the previously reported Wuudagu B and C estimate.

Wuudagu D, E and F Mineral Resource Summary – February 2026.

Cut-off and drilling density underpin classification

The MRE was reported using an upper SiO₂ cut-off of 22.5% at the model-cell level and constrained to plateau-top material defined using LiDAR interpretation.

Resource classification was primarily driven by drill spacing, with Indicated material defined at up to 150 metre x 150 metre spacing, covering all of Plateaus D and E and most of Plateau F. Areas of wider spacing at Plateau F were classified as Inferred.

The estimate is underpinned by 161 aircore drill holes completed during the 2025 drilling campaign across the three plateaus.

Thickness and strip profile details

VBX reported average bauxite thickness of around 4 m–5 m across the new plateaus, supported by relatively thin overburden.

Plateau D averages 4.77 metres of bauxite thickness with 0.32 metres of overburden, Plateau E 4.39 metres with 0.21 metres, and Plateau F 4.04 metres with 0.47 metres of overburden.

Beneficiation upside flagged, DFS work ongoing

The company noted the resource is reported on an in-situ basis and does not reflect expected product quality improvements from simple beneficiation.

Previous metallurgical test work indicates the bauxite is amenable to silica reduction through wet screening and scrubbing, with additional test work underway as part of the DFS to optimise beneficiation settings.

Next steps: mine planning and approvals pathway

VBX said mine planning work is progressing to refine production rates and mine life assumptions for the DFS, while also pointing to further exploration upside within the project area, including the 6.6 km² Plateau G.

On the approvals front, the company said an Environmental Review Document is scheduled for submission in early 2026, following amendment submissions lodged in December 2025.

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