- Widgie Nickel (WIN) confirms an “outstanding” high-grade sulphide discovery at the Gillet North target in Western Australia
- The company identified multiple high-grade intercepts of massive and semi-massive nickel sulphides in its initial exploration
- Assays from the first exploration hole drilled include 12 metres at 3.4 per cent nickel from 200 metres including five metres at 4.84 per cent nickel from 206 metres
- The company expects its assay results to be received progressively over the coming months with the next batch of results expected to be received by the middle of July
- Shares in Widgie are up 38.8 per cent, trading at 34 cents as of 11:50 am AEST
Widgie Nickel (WIN) has confirmed an “outstanding” high-grade sulphide discovery at the Gillet North target in Western Australia.
Assays from the first exploration hole drilled include 12 metres at 3.4 per cent nickel from 200 metres including five metres at 4.84 per cent nickel from 206 metres.
Managing Director Steve Norregaard called the drill result “simply outstanding” and hails mineralisation at Gillet North as an “extremely exciting” time for Widgie.
“A brownfield discovery in the middle of the Widgie South area, high-grade in nature, with ample room to grow, will enhance Widgie’s existing resource base and ultimately enhance the underlying project economics,” he said.
“Whilst it is early days, the results from this first exploration hole are a major and potentially pivotal step forward in the quest to expand the company’s nickel resource base in the Widgie South area, providing significant upside.”
The Gillett to Widgie Townsite corridor covers a strike extent of approximately 1.7 kilometres and has had little exploration completed below 150 metres with only minor historical work carried out in the Gillett North region.
Drilling has been planned as the company had identified a “massive” sulphide body in downhole electromagnetic surveys.
In addition, assays have been received for the Reverse Circulation (RC) and Diamond (DD) extensional and infill drilling programs carried out on the Gillett mineralisation which results continue to support Widgie’s production aspirations with a re-estimation of the mineral resource expected in the September quarter.
The company expects its assay results to be received progressively over the coming months with the next batch of results expected to be received by the middle of July.
Shares in Widgie were up 38.8 per cent, trading at 34 cents as of 11:50 am AEST.