Widgie Nickel (ASX:WIN) is conducting an assessment of all pegmatite occurrences within its Mt Edwards Project in Western Australia, upon identifying multiple lithium targets on its tenure.
The $31.28 million market capitalisation company is undertaking field inspections and sampling across all areas within the project to test the pegmatites for lithium-caesium-tantalum (LCT) affinity and lithium prospectivity.
Managing Director and Chief Executive Officer (CEO) Steve Norregaard says the company has taken its lithium exploration up a notch this year, focusing on additional compelling targets across its tenement package.
“Our expanded exploration focus for lithium will test potential extensions to our existing lithium resource, test all the known LCT pegmatite trends, and assess all our tenure for significant pegmatite occurrences.”
The company notes there is a long history of intensive gold and nickel exploration in the Widgiemooltha area, which has resulted in many thousands of drillholes and extensive surface mapping over the entire Mt Edwards project area.
Much of the historical exploration logs and data relating to Mt Edwards are retained onsite. Widgie is conducting a search of all drill logs, sampling and mapping data to uncover pegmatite occurrences.
At the Faraday and Trainline deposits, Widgie says no systematic exploration for LCT pegmatites has taken place over the covered trend, nor has deeper drilling assessed the down-dip extent of the Faraday-Trainline mineralisation.
Widgie is currently planning drilling programs to test the covered northern trend and the down dip extension to the known mineralisation. Drilling will start once approvals are in place.
At the Voyager deposit, Widgie’s existing drilling and field reconnaissance shows the pegmatites remain open to the north and at depth. Limited sampling and drilling have taken place.
Field mapping and sampling of this area is underway, with the aim to establish the full extent of the mineralised LCT pegmatites leading to thorough drill testing of this area.
Meanwhile, at the Spargoville pegmatite trend, the company had uncovered extensive pegmatite outcrops. Field teams are mapping and sampling the pegmatite to assess the lithium prospectivity over the entire prospect area.
Norregaard adds: “The Widgiemooltha tenements lie in a fertile corridor with established lithium resources and mines nearby at Mt Marion, Bald Hill, and Pioneer Dome. The district is a hot target currently and is experiencing intense lithium exploration activity with the recent initial public offer of Kali Metals (ASX:KM1) and exploration by near neighbour Maximus Resources (ASX:MXR) amongst others.”
Widgie’s wholly owned Mt Edwards project covers a 240km-square area and is considered to be ‘highly prospective’ for nickel and new economy metal prospects.
As of 30 September 2023, the company had $6.082 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Widgie Nickel