Mineral explorer Western Mines Group (ASX:WMG) continued to progress a phase two diamond drilling program throughout Q2 2023 at its Mulga Tank Nickel-Copper-Platinum Group Element (PGE) Project in Western Australia.
According to its latest quarterly report, the $35.57 million market capitalisation company says exploration is continuing to confirm the discovery of an ‘extensive’ working nickel sulphide mineral system with ‘significant’ intersections of Type-2 Mt Keith-style disseminated mineralisation.
The company reports a high-resolution MobileMT survey across the Mulga Tank Complex is due to begin in the coming days, targeting 3D architecture and massive sulphides.
Throughout Q2 2023, Western Mines Group drilled 2 further holes in the project, including a second co-funded Exploration Incentive Scheme (EIS) deep hole, MTD026, to a depth of 1,548.3m. This hole intersected about 950m of disseminated nickel sulphide with numerous remobilised nickel sulphide veinlets. The company says this hole showed several similarities to the first EIS hope drilled in the region but appears to contain ‘richer’ visible sulphide mineralisation.
Western Mines reports drilling is still in progress at hole MTD027, which is currently at a depth of about 1,150m. Assay results for MTD023 included 693.5m at 0.28% nickel, 128 parts per million (ppm) cobalt, 61ppm Cu, 27 parts per billion (ppb) platinum and palladium (Pt-Pd).
On the corporate side, the company raised about $2.726 million during the quarter to expand and accelerate drilling at Mulga Tank throughout Q2 2023. Western Mines Group closed the quarter out with $3.272 million cash at hand.
Western Mines Group is an ASX-listed mineral explorer focused on developing its Mulga Tank Nickel-Copper-PGE Project, which is a major ultramafic complex found on the Minigwal Greenstone Belt.
The company also holds the Jasper Hill Gold Project, along with the Melita, Youanmi, Pavarotti, Rock of Ages, Broken Hill Bore, and Pinyalling projects in the Goldfields region of Western Australia.
Write to Harry Mulholland at Mining.com.au
Images: Western Mines Group Ltd
