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WIN Metals (ASX:WIN) is happily taking full advantage of an old irony where former Butchers Creek owners Precious Metals stopped just short of defining “exceptional” gold targets at the site’s long-standing Emjay prospect because the precious metal’s price had tanked in the mid-1990s.
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PMA had prepared drill pads to test the juicy targets in question, but with “dismal” gold prices collapsing towards $275, they instead decided to pack up.
More’s the win for WIN, who says the “irony” in the 1990s has set them up for a “golden opportunity” they’re eager to realise in the Kimberley.
“There are gold mines in the historic data,” WIN’s CEO, Steve Norregaard, has this week suggested – and recent Emjay reconnaissance work at the Butchers Creek prospect certainly agrees with the Oz explorer chief’s claims.
“Previous explorers discounted this target because of incorrect MINDEX datasets,” he continued. “The data evaluation carried out by WIN confirms anecdotal reports suggesting Emjay is two kilometres south of the government-recorded MINDEX location, as now confirmed by these exceptional results.”
“There are golden opportunities to be realised in the Kimberley as WIN Metals begins to revitalise this forgotten goldfield,” WIN’s bullish CEO declared.
Fifty samples were taken in this new recon program. The sample medium, run over a 500-metre strike, was both rock chip and lag (surface rock fragment) samples.
The best sampling from the company’s Emjay search came in at an “outstanding” high-grade 23.5 grams per tonne gold. Other noted hits included 14 grams per tonne gold as well as 8.72 g/t Au and 3.59 g/t Au.
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“[This] demonstrates WIN’s commitment to systemic exploration and thorough due diligence required to… rediscover a prospect,” Mr Norregaard said.
The WA explorer will now spin up drill testing through its ongoing 2025 field season.
WIN enjoyed a decent bump on the news, climbing +5% in arvo trade.
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