Western Australian explorer Western Yilgarn (ASX:WYX) is looking to validate multiple new targets identified from a ‘high-quality’ auger geochemistry program at its Bulga Project in Western Australia.
The company, which has a $14.68 million market capitalisation, says these targets comprise 3 lithium-caesium-tantalum (LCT) pegmatite targets, 5 nickel-copper-platinum-palladium (Ni-Cu-PGE) targets, and one lower-order gold (Au) target.
Western Yilgarn reports the targets are located close to tenement application EL 36/1066, which was lodged in March this year. This tenement is close to being approved and covers all extensions to newly defined mineralisation, according to Western Yilgarn.
As a result, the company notes additional step-out exploration will be undertaken to test southern extensions once the application is granted.
Targets are also expected to be validated in-field ahead of planning for staged exploration to advance to drill-ready status.
Shares in Western Yilgarn were up 18.92% to $0.22 at 11:10am AEST on Tuesday 22 August.
Speaking on the results, Western Yilgarn Chairman Peter Lewis says: “With 9 targets identified, it is exciting to see Western Yilgarn’s first-principles, new-generation exploration strategy continuing to deliver results for the Bulga Project.
The team is very keen to extend exploration efforts onto the incremental 275km-square of under-application tenements. Western Yilgarn remains focused on best-in-class exploration across its portfolio of projects at the lowest possible cost.”
“Western Yilgarn remains focused on best-in-class exploration across its portfolio of projects at the lowest possible cost“
Western Yilgarn is an ASX-listed explorer dedicated to pursuing early-stage exploration opportunities, with a ‘strong’ focus on green metals.
The company’s Bulga Project is located about 50km to the southwest of South African explorer Gold Fields’ Agnew Gold Project and is centred on Pinnacles Station.
The project comprises 4 granted contiguous exploration licences and 2 applications which cover a combined area of 477km-square.
Write to Adam Drought at Mining.com.au
Images: Western Yilgarn
