Western Mines Group (ASX:WMG) is continuing to de-risk a potentially ‘globally significant, large-scale’, open-pitable nickel sulphide deposit at its Mulga Tank Project in Western Australia.
The $10.89 million market capitalisation company has completed the first 11 holes of a phase two reverse circulation (RC) drill program at Mulga Tank, which struck visible disseminated sulphides in all holes.
Managing Director Caedmon Marriott says this continues to demonstrate how prospective the extensive mineral system is, and the company is hopeful of finding shallow ‘high-grade’ pods of mineralisation.
“We’re already starting to see positive results from the drilling — the more we drill this system, the more interesting things we learn.”
An initial 17 holes are planned as part of the first half of Western Mines’ phase two program, focused on infilling the ‘higher-grade’ core area uncovered by its JORC exploration target modelling, as previously reported.
Marriott says: “Samples from the first 11 holes have been delivered to the lab, and we anticipate the remaining 6 infill holes should be finished by mid-March.”
Upon completion, Western Mines will begin drilling its next deep diamond hole, EIS3, which is co-funded by a Western Australian Exploration Incentive Scheme grant.
The company says this hole will look to test for a sulphide-enriched keel in the deepest part of the complex, based on Western Mines’ previous deep diamond drilling. The hole will also test a ‘compelling’ MobileMT anomaly around -700m reduced level (RL), near the basal contact.
The Mulga Tank project is prospective for nickel, copper, cobalt, and platinum group elements and sits in Western Australia’s goldfields.
Western Mines Group is a diversified mineral explorer focused on discovering ‘high-value’ deposits across its portfolio of ‘highly prospective’ projects in Western Australia.
As of 31 December 2023, the company had $2.104 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Western Mines Group
