Norwest Minerals (ASX: NWM) announces the discovery of ‘very high-grade’ copper–gold-quartz veins extending across multiple target areas at the company’s 100% owned Bali Copper Project in Western Australia.
The company reports that recent earthworks to clear drill sites along the Bali Shear has opened access to the Deep South area where no records of past exploration exist.
However, recent Norwest exploration work has now identified ‘high-grade’ copper-gold quartz veins with wide-spaced rock chips reporting consistently ‘high-grade’ assays of up to 46.2% copper and 6.74g/t gold.
The company’s share price was up 10% as of 12.30pm AWST.
Addressing the results, Norwest CEO Charles Schaus commented: “The discovery of the new copper-gold bearing quartz veins is a very exciting outcome following Norwest’s recent commencement of work at the previously unexplored Deep South area.
“The discovery of the new copper-gold bearing quartz veins is a very exciting outcome”
Drilling is already underway to test four historical copper prospects along the Bali Shear, whilst drill planning to test the down dip extent of these new ‘high-grade’ copper-gold quartz veins is being undertaken alongside ongoing exploration fieldwork programs.”
Norwest holds 100% of the Bali Copper Project located in Western Australia, 75 kilometres west of Paraburdoo. The project covers 41km-square with 4 prospects identified along the 8km northwest trending Bali Shear.
Norwest recently undertook earthworks to prepare drill pads for the 4,000m RC drill program currently testing for copper mineralisation at the Bali Lo, Bali High, Bali East, and Bali South copper prospects.
The ground clearing created access southeast along the Bali Shear and into the previously unexplored Deep South area.
Near the eastern tenement boundary where the new access track crosses the Bali Shear, rock chips returned copper assays up to 27.7% copper. The overall exploration target area along the Bali Shear now covers 5.5km from the Bali Lo prospect to the eastern tenement boundary.
The Bali Copper Project shares its eastern tenement boundary with the Station Creek Project (Techgen Metals Limited (ASX: TG1)) TG1 has recently reported rock chip results exceeding 50% copper from the Bali Shear which bisects the tenements of both projects.
Norwest notes that importantly, Norwest’s database shows very little exploration has been undertaken along the Bali Shear between the Bali East prospect and where the latest Station Creek high-grade copper bearing rock chip results were reported about 8km to the southeast.
The total distance from the Bali Lo copper prospect to Station Creek’s TA2 (7.32% Cu) rock chip sample is some 14km. The company understands that drilling at Station Creek will start in September 2022.
Images: Norwest Minerals Ltd
