Western Mines Group (ASX:WMG) confirms the discovery of an ‘extensive’ nickel sulphide mineral system through geochemical assay results at the Mulga Tank Nickel-Copper-Platnium Group Elements (Ni-Cu-PGE) Project in Western Australia.
The discovery comes from assays for Exploration Incentive Scheme (EIS) deep hole MTD023, which intersected an accruing of about 1,200m thickness of high magnesium oxide (MgO) adcumulate dunite ultramafic, averaging 46.8% MgO, 0.24% aluminum oxide (Al2O3) over an increasing 1,157m downhole.
Additionally, the following results from MTD023 include, 78m @ 0.28% Ni, 131 parts per million (ppm) Co, 70ppm Cu, 32 parts per billion (ppb) Pt+Pd from 118m, including 20m @ 0.38% Ni, 137ppm Co, 57ppm Cu, 45ppb Pt+Pd from 176m; and 88m @ 0.44% Ni, 151ppm Co, 85ppm Cu, 38ppb Pt+Pd from 1,212m.
The company reports assays from MTD023 recorded a cumulative total of 693.5m @ 0.28% Ni, 128ppm Co, 61ppm Cu, 27ppb Pt+Pd.
The company’s share price has rocketed 169.565% to $0.310 on the ASX as of 2.30pm AWST.
Western Mines reports that elevated nickel and sulphur are coincident with ‘highly’ anomalous copper and PGEs, which demonstrate the disseminated sulphides observed are magmatic nickel sulphide mineralisation.
Commenting on the results, Western Mines Group Managing Director, Caedmon Marriott says: “With the aid of our EIS grant we simply aimed to drill the deepest part of the complex – to gather the greatest amount of geological information we could.
The hole validates our geological model of the complex and really demonstrates a significant working nickel sulphide mineral system with huge volumes of mineralised ultramafic magma. The system has a large footprint across the complex and could host significant tonnes of Mt-Keith-style mineralisation within the Mulga Tank dunite body.”
“The system has a large footprint across the complex and could host significant tonnes of Mt-Keith-style mineralisation within the Mulga Tank dunite body”
In addition, Western Mines Technical Director, Ben Grguric says: “Every new drillhole in the main Mulga Tank dunite body is showing broad intersections of disseminated sulphide together with scattered intersections of high-grade remobilised nickel sulphide.
The host rock, being continuous intersections of hundreds of metres of adcumulate dunite is indicative of a very large, very hot, and energetic magmatic system.”
Western Mines is currently conducting a 6-hole diamond drilling (DD) program, totalling between 4,000 to 5,000m. This program will test a number of follow-up targets based on the results from the first drilling program, as well as ongoing exploration targeting work.
Western Mines Group is a mineral exploration company focused on the discovery of ‘high-value’ gold and nickel sulphide deposits across a portfolio of ‘highly prospective’ projects in Western Australia.
The company has a diversified portfolio including its flagship Mulga Tank Ni-Cu-PGE Project, the Jasper Hill, Melita, Youanmi, Pavarotti, Rock Ages, Broken Hill Bore, and Pinyalling projects.
Images: Western Mines Group Ltd
