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- Acquisition completed for Princess Royal gold mine
- High-grade satellite targets reinforce expansion potential
- Reconnaissance sampling confirms broader project upside
- Work programs planned to advance the broader Radio project area
WIN Metals (ASX:WIN) has hit the ground running at its new Princess Royal gold mine in Western Australia with reconnaissance sampling highlighting the project’s high-grade upside.
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The company is ramping up work at Princess Royal and surrounding tenure having now completed the acquisition of the fully permitted gold mine located approximately 80 km south-west of the company’s Radio gold project in Western Australia.
MD and CEO, Steve Norregaard, said Princess Royal is a high-grade historical gold operation with near-term drilling and development potential.
“WIN’s acquisition of Princess Royal marks an important step in our strategy to build a high-grade production hub at Radio. This transaction delivers a fully permitted, high-grade gold asset into our portfolio, in the right geology, with near-term work programs ready to go,” he said.
“The reconnaissance sampling completed across the broader Princess Royal tenure has quickly confirmed the quality of the system, with high-grade rock chips at Hill End and Battler West providing high quality exploration targets and encouraging grades in the Great Battler battery sands highlighting additional readily accessible gold ounces.
“These results validate our thesis that Princess Royal can provide immediate optionality to support future development scenarios at Radio.”
Radio currently hosts a mineral resource estimate (MRE) of 345,000 tonnes at 3.70 grams per tonne (g/t) for 41,000 ounces of gold.
“We now have line of sight to a stronger development case at Radio, underpinned by a larger project footprint, multiple satellite prospects and the flexibility to sequence high grade ore sources as we progress mine planning,” Mr Norregaard said.
“With mining permits in place at Princess Royal and a programme of work already approved, we are moving quickly into drill planning with mine studies and systematic sampling programs readily able to translate this exploration upside into mineable inventory.”
WIN’s accelerated field work program of mapping and sampling of the wider tenement package focused on the western tenure where multiple historic workings are located.
At the Hill End prospect, located approximately two km east of Princess Royal, 12 historical shafts of varying depths have been identified.
Selective rock chip sampling returned high-grade gold results of up to 5.59 g/t.
A substantial two-compartment, timber-lined shaft at Battler West was located north of the Hill End prospect, indicative of historical underground mining activity.
A rock chip sample collected from material associated with the shaft returned a gold grade of 4.61 g/t.
At Great Battler, multiple historical shafts and the remains of a stamp battery were mapped, with battery sands identified on site.
Sampling of the Great Battler sands returned an average grade of 0.89 g/t, with individual results ranging from 0.39 g/t to 1.62 g/t.
WIN is steady at 2.2c. Mkt cap $18.86M.
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