Western Mines Group (ASX:WMG) has delivered a JORC exploration target for the shallow nickel sulphide mineralisation at its Mulga Tank Project in Western Australia.
The $12.83 million market capitalisation company says the exploration target sits at 350,000 to 2.2 million tonnes grading at 0.24% to 0.35% nickel and 120 to 150 parts per million cobalt with a sulphur:nickel ratio of 1:1 to 1:3.
The target, which has been generated from modelling of all the company’s drilling results to date by independent consultants ERM Australia Consultants (formerly CSA Global), represents a potentially ‘globally significant, large-scale’, open-pitable nickel sulphide deposit.
Mineralisation within the target, which is constrained to depth, remains open in many directions.
Western Mines says ongoing reverse circulation (RC) drilling programs at Mulga Tank have been designed to progressively de-risk, improve confidence, and aid resource evaluation of the exploration target.
A 17-hole RC drilling program is also planned to be drilled during February 2024 to infill the higher-grade core area.
The company reports it will also continue to target possible basal massive sulphide accumulations outside of the exploration target zone, increasing the evidence of a hybrid type 1/2 system.
Managing Director Dr Caedmon Marriott says the exploration target is a ‘significant’ milestone for both Mulga Tank and the company.
“Our exploration results from Mulga Tank have been steadily building over the last 12 months. This exploration target marks a culmination of that and really demonstrates the potential for the main body of the complex to host a globally significant nickel sulphide deposit with the potential for several million tonnes of contained nickel – ‘globally significant’ in our book is the largest nickel sulphide deposit in Australia and top 10 in the world.
The modelling work highlights a higher grade core to the mineralisation and our exploration efforts have recommenced in 2024 with an initial RC program predominantly targeting infill drilling around this zone.
This will be followed by deep diamond hole EIS3 and then further RC drilling targeting extensions of the exploration target zone. The phasing of the drilling should continue to ensure steady news flow from the project over the next several months.”
Western Mines Group is a mineral explorer focused on its flagship Mulga Tank project in the Minigwal Greenstone Belt in Western Australia.
As of 30 December 2023, Western Mines had $2.104 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
