Widgie Nickel (ASX:WIN) has received ‘significant’ nickel mineralisation intercepts from a recent diamond drilling infill program conducted at the Widgie 3 system, within the Widgie South project in Western Australia.
The $58 million market capitalisation company reports the results confirmed thick intercepts of ‘high-grade’ nickel (Ni) sulphide and platinum group elements (PGE) mineralisation.
Mineralisation remains open at depth with increasing grade interpreted down plunge.
The drilling results received to date will facilitate a resource update with increased resource confidence.
Widgie reports ‘notable’ nickel intercepts recorded include drillhole 23MERCD073 with 15.47m @ 3.17% Ni, 0.27% copper (Cu), 0.04% cobalt (Co), 1.51g/t 3PGE from 301m, including 6.81m @ 5.92% Ni, 0.50% Cu, 0.07% Co, 2.58g/t 3PGE from 309.66m.
Commenting on the drill results, Widgie Nickel Managing Director Steve Norregaard says: “These exceptional results from Widgie 3 resource definition drilling continue to point towards a robust Widgie 3 resource upgrade and in turn more favourable underlying economics.
“Considering the deepest drilling in this phase confirms mineralisation to only a very shallow 300m below surface we can look forward to the upcoming Widgie 3 resource update with further resource growth if warranted on the horizon“
Considering the deepest drilling in this phase confirms mineralisation to only a very shallow 300m below surface we can look forward to the upcoming Widgie 3 resource update with further resource growth if warranted on the horizon.
This all feeds into our plan to incorporate the Widgie South deposits into a Scoping Study with the aim of becoming a major sulphide nickel producer.”
Widgie adds that the resource infill results have increased the confidence within the Widgie 3 resource. Drill results returned this year will be included in the 2023 Widgie 3 Mineral Resource Estimate (MRE) due to begin in October this year.
The Widgie South Project comprises Widgie 3, Widgie Townsite, Gillett, and Gillett North, and is considered a ‘key’ mining centre within the company’s nickel portfolio.
A Scoping Study is currently underway, incorporating the Widgie South deposits.
Widgie Nickel is an ASX-listed explorer, with a unique consolidation of a vast 240km-square package of ‘highly prospective’ nickel and new economy metal prospects, within the prolific Eastern Goldfields nickel sulphide belt.
As of 30 June 2023, the company had $11.8 million cash at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Widgie Nickel
