Solara Minerals Uses Desktop Review to Identify Gold Potential at New Wilgeena Project

Solara Minerals (ASX: SLA) has identified significant gold potential through a desktop review of its newly acquired Wilgeena project in Western Australia’s Murchison region.

The company recently finalised the acquisition of Wilgeena and other gold and copper opportunities in the Bryah Basin via the purchase of OD4 Tom Price (OD4TP).

Located close to both Westgold Resources’ (ASX: WGX) Peak Hill Gold Mine and Catalyst Metals’ (ASX: CYL) Hermes gold deposit, historical drilling at Wilgeena returned 5m at 1.03 grams per tonne gold, 2m at 1.90g/t gold, and 5m at 1.98g/t gold.

Seven Prospective Licences

The newly acquired OD4TP portfolio consists of seven highly prospective exploration licences covering a total area of 310 square kilometres north of Meekatharra.

Solara made an initial payment of $130,000 in cash as a reimbursement for expenditure incurred on the tenements and issued 1,250,000 fully paid ordinary shares to the shareholders of OD4TP as upfront consideration for the acquisition.

These shares will be subject to a 6-month voluntary escrow period commencing on the date of issue.

Historical Evaluation

Solara’s evaluation of historical geological mapping, geophysics and geochemistry data identified several prospective targets containing significant gold anomalism that have had minimal follow-up exploration.

The historic work was made up of shallow aircore and rotary drilling with the only deeper drill holes targeting opportunities identified in various surveys.

The company plans to test structures intersecting the strong northeast-trending stratigraphy, with an initial focus on the northern part of the tenement.

Exploration Team on Site

Solara has already mobilised an exploration team to site to assess the areas of gold anomalism and high priority target areas and evaluate the potential of the various targets.

The company is also in the process of negotiating a Heritage Agreement with the Jidi Jidi Aboriginal Corporation and evaluating the need for closely spaced ultra fine fraction soil sampling to map suspected mineralisation trends.

Solara will commence field activities in the coming weeks.