Western Mines Group (ASX:WMG) is developing a follow-up reverse circulation (RC) drilling program at its Mulga Tank nickel-copper-cobalt-platinum group element Project in Western Australia.
The $16.7 million market capitalisation company says the drilling comes after assays, generated from an additional 3 RC holes completed as part of a recent RC drilling program, demonstrated ‘broad’ zones of nickel sulphide mineralisation.
Half of the results from the RC program have now been posted, with each hole interpreted to have elevated nickel and sulphur coincident with ‘highly anomalous’ copper and platinum group element mineralisation.
The company also notes today’s results continue to de-risk a potentially globally ‘significant, large-scale’, open-pitable nickel sulphide deposit at Mulga Tank.
Further, hole MTRC015 demonstrated multiple intersections with greater than 1% nickel.
Key results include hole MTRC015 with 8m @ 1.2% nickel (Ni), 565 parts per million (ppm) cobalt (Co), 82ppm copper (Cu), 57 parts per billion (ppb) platinum (Pt) plus palladium (Pd) from 58m.
The results follow the discovery of almost 370m of nickel mineralisation at Mulga Tank, as reported last week (30 November).
The company notes all 11 RC holes reported to date contain mineralisation with around 45%-70% length down every hole being mineralised, demonstrating continuity of shallow mineralisation across the complex.
Western Mines reports results demonstrate potential for a ‘higher-grade’ core emerging in the centre of the complex.
Western Mines Group Managing Director Dr Caedmon Marriott says the company is continuing to achieve its ‘hit rate’ and is planning the follow-up RC program to test the centre of the complex.
“Assay results have been received for half of the 22 RC holes and our ‘hit rate’ continues with all of them showing broad zones of nickel sulphide mineralisation.
Holes MTRC015 and MTRC017 cluster together in the centre of the complex and could be a higher-grade core to the disseminated mineralisation. Follow-up RC is planned and this area happens to be exactly where WMG selected as the location for hole EIS3 in our second EIS grant.”
Western Mines Group is a mineral explorer focused on the exploration and discovery of ‘high-value’ gold and nickel sulphide deposits across its portfolio of ‘highly prospective’ projects located on ‘major’ mineral belts in Western Australia.
The company’s Mulga Tank Project sits in the underexplored Minigwal Greenstone Belt and demonstrates ‘significant’ evidence for an ‘extensive’ working nickel sulphide mineral system.
As of 30 September 2023, Western Mines Group had $1.872 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Western Mines Group
