WIN Metals boosts resource at flagship Butchers Creek gold deposit with updated MRE

WIN Metals (ASX: WIN) remains confident it is on target to bring its flagship Butchers Creek gold deposit back into production after finalising an updated mineral resource estimate (MRE) for the project located in the far north of Western Australia.

This MRE update has successfully identified a mineral resource of 321,000 ounces of gold at 1.91 grams per tonne.

Chief executive officer Steve Norregaard said the successful conversion of an additional 119,000oz at 2.24g/t into the ‘indicated’ category – representing an 86% increase in indicated gold resource ounces compared to a 2021 estimate – had helped boost the new MRE.

Advancing development studies

The growth in the indicated level numbers will pave the way for the company to advance development studies while it continues to drill other high-priority, high-grade targets.

“With readily accessible mineralisation located immediately below the shallow open pit amenable to low-cost open pit mining methods, the opportunity to monetise this asset in the current high gold price environment is now an imperative,” Mr Norregaard said.

“To complement this great outcome, the company will continue to enhance the resource base, focussing on the Golden Crown area during the forthcoming dry season, building on the promising high-grade drill intersections reported last year.”

Successful drilling

The new Butchers Creek MRE update includes data from an additional 13 reverse circulation and two diamond drill holes completed during the 2024 field season, along with 15 drill holes completed by previous operator Meteoric Resources (ASX: MEI) after the release of the 2021 MRE.

Located near Halls Creek in the East Kimberley region of WA, Butchers Creek was previously mined as an open pit commencing in 1995.

That operation featured the construction of a 500,000 tonnes per annum conventional carbon-in-pulp gold ore processing plant, a 9 million tonne tailings storage facility, diesel power station and a 75-person accommodation camp and offices.

During its operation, the Butchers Creek open pit produced 761,000t at 2.09g/t for 52,000oz of gold.