The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Western Gold Resources (WGR) launches a maiden reverse circulation drilling program at the Gold Duke project in Western Australia
  • The program is expected to take two weeks, focusing on the Top Knot and Kingfisher North prospects, with first results due in mid-January
  • The Top Knot prospect will undergo a 17-hole drilling program to test co-incident targets previously generated from a SubAudio Magnetics (SAM) survey and soil geochemistry
  • Meanwhile, 35 reverse circulation holes will be drilled to test interpreted intrusive and fault splays of the Brilliant and Joyners Shear Zones
  • Western Gold Resources is up 1.25 per cent to trade at 8.1 cents at 2:44 pm AEDT

Western Gold Resources (WGR) has launched a maiden reverse circulation drilling program at the Gold Duke project in Western Australia.

The program is expected to take two weeks, focusing on the Top Knot and Kingfisher North prospects, with first results due in mid-January.

The Top Knot prospect is situated on the Joyner Find Shear Zone and contains numerous shallow historical shafts hosted within a package of intercalated ultramafic and chert rocks.

The 17-hole drilling program will test co-incident targets previously generated from a SubAudio Magnetics (SAM) survey and soil geochemistry.

Meanwhile, 35 reverse circulation holes will be drilled to test interpreted intrusive and fault splays of the Brilliant and Joyners Shear Zones.

The prospect has had no previous drilling, but the company believes the prospect is highly prospective for both gold and gold copper mineralisation.

The drilling at Kingfisher will be co-funded by a WA Government drilling grant of $118,500.

“We are delighted to have commenced this reverse circulation drilling program at the Gold Duke project,” Managing Director Warren Thorne said.  

“The Kingfisher North prospect is the last truly underexplored area within the project area with three kilometres of both the Brilliant and Shear Zones lying beneath Proterozoic rocks.

“The start of the drilling program is a testament to the hard work by the exploration team over the last few months and sets up WGR for continued success in 2022.”

Western Gold Resources was up 1.25 per cent to trade at 8.1 cents at 2:44 pm AEDT.

WGR by the numbers
More From The Market Online
The Market Online Video

HotCopper Highlights Week 21: Trump jump for uranium; James Hardie, Imugene & more

Good Afternoon and welcome to HotCopper Highlights wrapping up Week 21 of the year, I’m Jon…
Bitcoin concept

Week 21 Wrap: RBA makes second cut; Bitcoin hits new high as US bonds in focus

Let's start with the foremost obvious inclusion: the Reserve Bank of Australia (RBA) has cut interest…
Dale Gillham's photo, and wording 'Words from Wealth Within's Chief Analyst Dale Gillham.

Australia stands tall: RBA cuts rates as US credit rating slips

With the RBA announcing a 25-basis point rate cut, the nation’s economic future just got a little brighter.