- Woomera Mining (WML) launches a Phase 2 reverse circulation drilling program at its Mt Venn Project in Western Australia
- The 4000-metre program will initially target the Three Bears gold prospect before moving to the Mt Cumming prospect
- Woomera holds an 80 per cent stake in the Mt Venn Project, which it acquired in September 2019 from Cazaly Resources
- Shares in Woomera Mining were down five per cent at 1.9 cents the close of trading on Tuesday
Precious and base metals explorer Woomera Mining (WML) has launched a Phase 2 reverse circulation drilling program at its Mt Venn Project in Western Australia.
The roughly 4000-metre program will initially target the Three Bears gold prospect, located at the centre of the 390-square-kilometre project, before moving to the Mt Cumming nickel, copper and platinum group elements prospect to the north.
The work at Three Bears has been designed to test for higher grades of gold mineralisation, which Woomera said was associated with the Baby Bear Diorite porphyry where Phase 1 drilling in June intersected five grams per tonne (g/t) of gold over one metre.
Drilling at Mt Cumming, on the other hand, will target five electromagnetic plate conductors, thought to be associated with “historical anomalous shallow auger soils”, as well as previously collected rock chips grading up to 3.2 per cent copper and 8.4 g/t of gold.
A further five electromagnetic targets, which sit along strike from the Winchester Project owned by Great Boulder Resources (GBR) and AusGold (AUC), will be drill tested once the necessary approvals and heritage surveys have been finalised.
Woomera holds an 80 per cent stake in the Mt Venn Project, which it acquired in September 2019 from Cazaly Resources (CAZ). Cazaly owns the remaining 20 per cent through an unincorporated joint venture with Woomera.
The project sits 125 kilometres northeast of Laverton in the Eastern Goldfields region. It forms part of the Mount Venn-Dorothy Hills greenstone belt, which in turn forms part of the Yilgarn Craton. According to Woomera, these greenstone belts account for roughly 30 per cent of the world’s gold reserves, the majority of Australia’s nickel production, and other base metal and rare earth deposits.
Shares in Woomera Mining were down five per cent at 1.9 centsat the close of trading on Tuesday.