The investor flight simulator

01The headline

Morning, 19 October 2026

At market open, WA1 Resources (ASX: WA1) posts an announcement on the ASX. Its first page is all most people read:

The company writes the headline and picks the lines. Everything below it, down to the last table, is how you check what the lines mean. Tap a line to fly to its hole.

02Decode one line

Pick a line and take it apart

Take the deepest one. Every highlight line has the same five parts. Tap each to see what it says:

LUDD-0213 from 202.2m 14.8m at 3.7% Nb₂O₅

Now watch the hole being drilled. The bright band is the line you just read, from 202.2 m to 217.0 m down the hole.

03The whole interval

What sits around the highlight

The highlight is one slice. The release reports this hole at two cut-offs, the lowest grade a sample can have and still count:

At 0.2%, the full intercept

99.7 m at 1.68% from 174.8 m

167.5 %·m

At 1%, "including"

5 pieces, 70.6 m inside it

148.2 %·m

The highlight line is the best of the five pieces: 14.8 m at 3.66%, or 54.2 %·m. Grade × metres (%·m) is a quick way to compare intervals of different lengths: by that measure the full intercept holds about 3 times as much as the line in the headline.

Both cut-offs allow up to 3 m of lower-grade core inside an interval ("internal dilution"), which is how one 99.7 m interval can contain samples below 0.2%. Try the interval builder.

04Is it really that thick?

Downhole length and true width

Lengths in a release are measured along the hole. The rock body's real thickness, its true width, depends on the angle between the hole and the body.

WA1 says the enriched oxide mineralisation is "generally sub-horizontal", following the weathered top of the carbonatite. Most of these holes go straight down, so they cross a flat layer at about 90°, and downhole length is close to true thickness.

Three holes in this release (LUDD-0186, LUDD-0187 and LUDD-0249) were drilled at 74° to 75°. Through a flat layer, 10 m along those holes is about 9.6 to 9.7 m of true thickness. The release states which way its mineralisation lies; when it doesn't, ask.

05Zoom out

24 holes on a tight grid

The release covers 24 diamond holes. The highlights name 11 of them; Table 1 lists every one, including the holes with thinner or lower-grade intervals.

The grey dots are holes from earlier releases. These new ones fill in between them on a staggered 25 m by 50 m pattern in the zone WA1 already counts as Indicated Resource. That makes this infill drilling: it tests how continuous the mineralisation is, rather than looking for new ground (a step-out).

WA1 says the results will feed a Mineral Resource update planned for the first quarter of 2027, aiming for a first Measured category, and that assays for a further 41 holes are still to come. Indicated and Measured, explained.

06Your turn

Find the grade for yourself

This is the grade slider that every model on Prospector Trails has. Drag the two handles to light up only the intervals between two grades. Tap a hole to read its intervals.

Look at where the high grade sits: mostly between about 30 m and 110 m down, a flat band across the grid, with LUDD-0213 the exception at more than 170 m. That matches what the release says about the shape of the mineralisation.

Copy a link to this view

07Read any release

Six questions for every drill release

1. Full intercept or "including"? Find the longest interval for the hole in the table, not just the highlight line.
2. What cut-off, and how much dilution? A lower cut-off makes longer, lower-grade intervals. The release must say which it used.
3. Downhole length or true width? Look for a statement on the orientation of the mineralisation.
4. Infill or step-out? Infill raises confidence in what is known; a step-out tests new ground. Both matter, differently.
5. How many holes, and how many still waiting? Count the holes in the table against the lines in the highlights, and note assays still to come.
6. Where is Table 1? ASX releases carry JORC Table 1 and a Competent Person's statement: how the samples were taken, assayed and checked. The JORC Code, explained.

None of these says whether a result is good or bad. They tell you what the numbers in the headline actually describe.

08Now read a real one

You have landed

You have read one release from the headline down to the rock. The full Luni model has this release and every earlier one: 593 holes, each release on its own, on real terrain.

Open this release in the full model →

Open to everyone, no account needed. Your grade range comes with you.