WIN Metals adds strategic tenure acquisition to boost Butchers Creek project in WA

• Strategic tenure acquisition secures planned footprint for Butchers Creek tailings storage facility
• New tenure hosts historical gold workings immediately west of Butchers Creek open pit
• Butchers Creek tenure package grows to 343 sq. km.
• Adjoins Hastings Technology Metals’ Brockman rare earths and niobium project

WIN Metals (ASX: WIN) has entered into two agreements to expand its Butchers Creek gold project in the Kimberley region of WA for the acquisition of two granted exploration licences from IGO and an exclusive option to acquire an exploration licence application from Metal Bank.

MD and CEO, Steve Norregaard, said the transactions provide for strategically important tenure covering part of the planned tailings storage facility footprint, together with prospective exploration ground immediately west of the Butchers Creek open pit and along strike from known gold workings.

“Securing these two parcels of tenure greatly enhance the Butchers Creek project bringing areas highly prospective for gold into the portfolio for modest consideration and dramatically simplifying the proposed Butchers Creek Mine mining footprint,” he said.

“Together, these transactions increase our development optionality by introducing additional potential sources of mineralisation for negligible cost.”

The total upfront consideration is $115,000 for tenure which offers opportunities to discover further gold mineralisation and potentially expand the existing Butchers Creek mineral resource of 5.6 million tonnes (Mt) at 1.98 grams per tonne for 359,000 ounces of gold.

Both IGO tenements host historical gold workings and lie adjacent to and along strike from Golden Crown and Butchers Creek workings.

Mr Norregaard said the E80/5607 area is particularly important to future project development, located immediately west of the Butchers Creek open pit and incorporating part of the previous tails dam facility.

The acquisition is intended to enable the remaining designed capacity to be incorporated into planned future operations with minimal changes to the original design, subject to the necessary approvals.

The Metal Bank tenure is known to host historical gold workings to the south, where gold reportedly occurs discontinuously over 3.4 km of strike, but remains very much a grass roots exploration play having had very little modern day exploration undertaken.

The Butchers Creek gold project is centred on a historic mining between 1995 and 1997 which produced approximately 52,000 ounces.

WIN was steady at 1.8¢. Mkt cap $15.43M.

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