Dynamic may have touched the edges of TWO gold finds at Widgiemooltha
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Dynamic has delivered a one-two punch at its Widgiemooltha project in Western Australia’s Goldfields region after aircore drilling hit end of hole gold at two prospects.
Whilst Dynamic Metals (ASX:DYM) is primarily focused on nickel and lithium exploration, the gold prospects — close to significant third-party gold projects — is very much in line with its strategy to unlock potential value creation opportunities within its extensive portfolio.
At the Higginsville prospect, hole HGA011 identified a potential mineralised structure about 1km from Karora Resources’ (TSX:KRR) producing Higginsville gold operations after returning a bottom of hole assay of 1m grading 5.61 grams per tonne (g/t) gold from 44m.
Meanwhile, the 1m intercept at 3.1g/t gold at the bottom of MDA011 at the Mandilla prospect indicates the potential for mineralisation from Astral Resources (ASX: AAR) 1.25Moz Mandilla project to extend across the tenement boundary into the company’s tenure.
Aircore drilling struggles once it hits fresh (hard) rock but it’s a cheap and easy way to explore. This bottom of hole mineralisation strongly implies there is potential for primary gold in the bedrock below.
“We are delighted with high-grade intercepts in the bedrock as it means we are potentially looking at in situ gold mineralisation rather than gold that has been transported from one of the known nearby deposits” DYM managing director Karen Wellman told Stockhead.
The Higginsville prospect was first identified in the early 2000’s when WMC defined a 1.3km gold anomaly and completed wide spaced aircore drilling in 2001, which returned a best intercept of 4m at 3.42g/t gold.
Dynamic drilled 16 aircore holes totalling 659m in June this year in a 80m by 50m pattern to systemically collect bedrock geochemical information and determine if this target was of meaningful significance due to its close proximity to an existing gold operation.
That this drilling returned several significant intercepts – including the top hit of 1m at 5.61g/t gold – is indicative that there might indeed be good reasons to think that the target is indeed of significance.
The 850km2 Widgiemooltha project – ~100km south of Kalgoorlie – lies within a known corridor of world-class komatiitic nickel and orogenic gold deposits.
More recently, interest in the project’s prospectivity for lithium has grown due to its proximity to the Mt Marion, Bald Hill and Buldania projects, which are all located within 25km.
Widgiemooltha is also directly adjacent to 11.2Mt Dome North lithium project, which is to be acquired by Develop (ASX:DVP) via takeover for ~$150m.
“The potential of the Widgiemooltha Project is exceptional – it is a large, unrivalled land position surrounded by existing infrastructure and transport links, and most of all there is real depth to the exploration portfolio across multiple commodities” Wellman told Stockhead.
Dynamic is currently reviewing and revising its geology model at Mandilla to determine its next steps at the prospect, though it did not touch on plans for Higginsville.
The company is also planning to kick off a 12 hole reverse circulation drill program in late August to test for fresh rock nickel sulphide mineralisation associated with the ‘basal contact’ at the D3 and D5 nickel prospect’s within the Democrat area.
Results are also likely to be pending for its lithium soil sampling program that was carried out in July across the Pioneer Dome West area within the Widgiemooltha to generate and rank targets for drill testing later this year.
This article was developed in collaboration with Dynamic Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.