Western Mines Group (ASX:WMG) has received 3 more assay results from the Mulga Tank Project in Western Australia that continue to demonstrate targeted shallow mineralisation.
The $18.91 million market capitalisation company says it believes the central area of the main body of the Mulga Tank Complex could host ‘globally significant’ quantities of disseminated Mt Keith-style nickel sulphide mineralisation, which could be amenable to a ‘large-scale’, open-pit mining operation.
Further, Western Mines reports that with results for 17 holes now received out of the 22 holes drilled, assays cumulatively show mineralisation in around 50% of the samples, with elevated nickel (Ni) and sulphur (S) in combination with highly anomalous copper and platinum group elements (PGE).
Hole MTRC003 returned a cumulative 175m @ 0.26% Ni, 114 parts per million (ppm) cobalt (Co), 18ppm Cu, 19 parts per billion (ppb) platinum and palladium (Pt+Pd) with sulphur nickel ratio (S:Ni) 0.6.
However, Western Mines reported hole MTRC004 is the first reverse circulation (RC) hole to date that did not show the signature of nickel sulphide mineralisation.
Western Mines says this is an ‘interesting’ and ‘unique’ result that helps to define the geochemistry of the Mulga Tank Complex, as well as future exploration search space.
Speaking to Mining.com.au, Managing Director Dr Caedmon Marriott says whilst this is perhaps a ‘perverse’ statement, hole MTRC004 is something of a novelty at the project.
“This is an amazing result which may not have fully sunk in. Hole 4 is something of an outlier to the north of the rest of the program. This helps define the area for follow-up drilling early next year, with a large area of consistent disseminated mineralisation emerging in the centre of the complex.”
Marriott adds hole MTRC004 is located slightly to the north of the area tested by the RC drilling, and assay results from this hole failed to show the geochemical signature of nickel sulphide mineralisation.
“Holes MTRC003 to MTRC005 continue the trend seen with other holes with broad zones of nickel sulphide mineralisation observed down the holes. Hole MTRC005, in particular, located closer to the central zone of the area tested by the RC drilling, shows better mineralisation with individual results up to 0.72% Ni and a S:Ni greater than 1.”
“Holes MTRC003 to MTRC005 continue the trend seen with other holes with broad zones of nickel sulphide mineralisation observed down the holes”
Western Mines Group is a mineral explorer focused on discovering ‘high-value’ gold and nickel sulphide deposits across a portfolio of ‘highly prospective’ projects in Western Australia.
As of 30 September 2023, the company had $1.872 million cash and cash equivalents at hand, according to its latest quarterly report. Post-quarter-end, Western Mines completed a $1.2 million capital raising.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Mines Group
