Join our daily newsletter At The Bell to receive exclusive market insights
- Western Yilgarn (WYX) acquires a new tenement in the centre of its Bulga project area in Western Australia
- WYX entered a binding agreement for the exploration lease, which expands its existing 477 square kilometre package by an additional 48 square kilometres along strike of the Ida Fault
- Western Yilgarn Chairman Peter Lewis says the exploration and consolidation progress at Bulga is “most impressive”
- An auger geochemistry program is now underway to refine targets for follow-up drilling
- Shares in WYX are trading at 8.7 cents at 2:10 pm AEDT
Early-stage exploration company Western Yilgarn (WYX) has acquired a new tenement, E36/1028, in the centre of its Bulga project area in Western Australia.
The company entered a binding agreement for the exploration lease, adding 48 square kilometres to its exploration package of 477 square kilometres along strike of the Ida Fault.
Western Yilgarn Chairman Peter Lewis said the purchase provides a “very effective consolidation” of its leases at Bulga.
“The exploration and consolidation progress being made at Bulga is most impressive,” Mr Lewis said.
The company said it’s already completed first pass 1600-metre by 100-metre auger geochemistry on the newly acquired tenement.
Western Yilgarn has since commenced a phase two infill auger geochemistry program to refine phase one targets further for follow-up drilling.
The Bulga project includes three granted contiguous exploration licences (E36/1010,
E36/1011, and E36/1025) which cover a total area of around 154 square kilometres.
The remainder of WYX’s Bulga exploration package is made up of 275 square kilometres
(E36/1065 and E36/1066) under application, along with the newly acquired tenement.
“We are looking forward to providing ongoing news flow to shareholders,” Peter Lewis concluded.
Shares in WYX were last trading at 8.7 cents at 2:10 pm AEDT.
-1200x645-380x200.jpg)