Dynamic Metals (ASX:DYM) has started diamond drilling at the Cognac West prospect within the company’s Widgiemooltha project in Western Australia, with the four-hole diamond drilling program testing for gold-copper mineralisation intercepted beneath previous reverse circulation drilling.
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Dynamic is getting up to $175,000 in co-funding under the Western Australian government Exploration Incentive Scheme, with drilling designed to improve geological understanding in a structurally complex corridor and test structure potential.
The company’s managing director, Karen Wellman, said drilling is expected to provide valuable geological information regarding lithology, alteration, structural orientation and mineralisation characteristics.
“Commencing diamond drilling at Cognac West is an important milestone for Dynamic and marks the next phase of exploration at one of our most exciting gold targets at Widgiemooltha,” she said today.
Ms Wellman also told shareholders the program will let the company test the deeper geological architecture of the system and significantly improve its understanding of structures identified to date. “The Cognac West area has already demonstrated strong surface gold anomalism and high-grade rock chip results, and this drilling represents the first opportunity to test the broader system at depth.”
The Cognac West prospect has been subject to near-surface historic exploration dating back to the 1970s, including sampling and shallow drilling, with historic data often incomplete and limited to gold assays only. A peak historic drill hole gold assay from the 1990s included one metre at 91.3 grams per tonne (g/t) from 41m.
Back in CY24, Dynamic undertook an extensive soil sampling program at the prospect, which helped refine several higher-grade zones.
The Western Australian company also completed geological mapping and rock chip sampling, which supported the potential for significant gold mineralisation, with peak assay results of 2,040 g/t, 53.1 g/t and 8.95 g/t.
DYM has been steady at 60c through to Thursday afternoon.
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