Western Mines Group adds ground to flagship Mulga Tank project
Western Mines Group says it now holds a dominant 395sq km land position in the Minigwal Greenstone Belt.
Western Mines Group (ASX: WMG) has completed a “significant” expansion of its Mulga Tank nickel-copper-platinum group elements project in Western Australia.
The company now holds what it describes as a “dominant” position on the Minigwal greenstone belt, covering 37km of strike and holding a total land area of more than 395sq km, up from the previous 113sq km.
It acquired the additional ground from Duketon Mining (ASX: DKM) for 500,000 new shares, 500,000 options and a 1% net smelter royalty.
The options issued to Duketon will be exercisable at $0.30 per share, and within two years from the date of issue.
‘Significantly’ underexplored for nickel, copper, PGE and gold
WMG says the new area includes ground that has been significantly under-explored and is prospective for nickle-copper-PGE and gold.
Managing director Caedmon Marriott said the company’s moving loop electromagnetic survey (MLEM) at Mulga Tank, which began in October, is progressing well.
“This strategic acquisition transforms out flagship Mulga Tank project to [a] ‘belt scale’ opportunity and gives WMG a great footprint across the under-explored Minigwai greenstone belt,” he added.
He said the MLEM survey is progressing well with a number of drill targets already identified in the southern sector and the survey lines across the central section will be completed this month.
Drilling to take place next year
Plans for an initial drill program, to be undertaken in the new year, are well under way.
Mulga Tank is the company’s current focus.
WMG holds numerous other projects across major Western Australia mineral belts including the Rock of Ages project is located approximately 32km southeast of Laverton, Jasper Hill (gold), with numerous prospective gold trends extending from the adjacent Lord Byron and Fish historical gold mines.
The company is also actively exploring Youanmi (gold), Pavarotti (nickel-copper-PGE), Broken Hill Bore (gold) and Pinyalling (gold).
The MLEM survey is covering 28sq km of the project area and will test the entire Mulga Tank ultramafic intrusion.
Mulga Tank is located 190km northeast of Kalgoorlie on the eastern portion of the Yilgarn Craton.