Join our daily newsletter At The Bell to receive exclusive market insights
Western Mines Group Ltd (ASX:WMG) has identified two high-grade zones including 5 metres at 1.92% nickel (Ni) and 0.21% copper (Cu) through reverse circulation drilling at Mulga Tank in Western Australia’s Eastern Goldfields region.
The geochemical assay results were taken from a program of Phase 3 RC drilling, with three holes completed – all showing broad zones of nickel sulfide mineralisation, with higher levels of these two minerals being coincident with highly anomalous copper and platinum group elements (PGE).
In one hole – MTRC044 – results included 187 metres at 0.28% Ni, 121 parts per million (ppm) cobalt (Co), 34ppm Cu, 10 parts per billion (ppb) Pt+Pd (platinum + palladium) with S:Ni 0.8.
A second – MTRC045 – yielded 174 metres at 0.28% Ni, 125ppm Co, 49ppm Cu, 14ppb Pt+Pd with S:Ni 0.7.
And a third – MTRC046 – picked up 193 metres at 0.33% Ni, 152ppm Co, 310ppm Cu, 25ppb Pt+Pd from 107m S:Ni 1.5.
The latter was the most impressive high-grade intersection ever drilled at Mulga Tank.
Additionally, the revelation of two high-grade zones confirmed that mineralisation extended to the south of a previously drilled hole, hole MTRC032.
Managing Director Dr Caedmon Marriott said the results had been impressed by the MTRC046 hole’s mineralisation in particular.
“Its further validation of the extensive Mulga Tank nickel sulphide mineral system
and the potential the Complex could hold,” he said.
“The more we drill the more we’ve become increasingly convinced of the hybrid nature of the system and potential to host higher grade massive sulphide.
“A very large, low-grade, open-pitable deposit has been defined within the Complex by the various phases of drilling so far but within that a number of these high-grade pods/zones are starting to emerge as we increase drilling density.”
WMG shares have been trading flat at 23.5 cents.
