Norwest: North Dovers IOCG target could potentially ‘rerate both the company and the region’
Link copied to
Special Report: This maiden drill program at Arunta West could be a company making event for explorer Norwest Minerals.
Norwest Minerals (ASX:NWM)is now drilling deep into its untouched North Dovers IOCG target at Arunta West.
Iron oxide copper gold ore deposits (IOCG), like BHP’s Olympic Dam, can be colossal; just imagine a resource so large it would take five centuries to deplete.
That’s the kind of region defining, multi-generational mines IOCG deposits can become.
For Norwest, North Dovers represents a huge opportunity. The target is defined by a large, 8km by 4km coincident magnetic-gravity anomaly and geological features which are very similar to Olympic Dam.
The rig and personnel arrived on site last week and have now commenced drilling the first of 4 deep diamond drill holes designed to test the large IOCG target.
Check it out:
It was actually BHP which first identified the target back in 1999, but strict access regulations at the time meant no drilling of any kind until now.
“Those issues have now been resolved making Norwest the first company sanctioned to put a drill hole into this fantastic target since its identification by BHP 20 years ago,” Norwest chief executive Charles Schaus says.
And prospectivity of the North Dovers target was specifically recognised by the Western Australian government, which has agreed to contribute up to $200,000 toward Norwest’s maiden drill program.
“This is a very exciting time for Norwest Minerals, as even the hint of an IOCG mineralisation system from the maiden diamond drill program at North Dovers has the potential to rerate both the company and the region,” Schaus says.
This story was developed in collaboration with Norwest Minerals, a Stockhead advertiser at the time of publishing.
This advice has been prepared without taking into account your objectives, financial situation or needs. You should, therefore, consider the appropriateness of the advice, in light of your own objectives, financial situation or needs, before acting on the advice. If this advice relates to the acquisition, or possible acquisition, of a particular financial product, the recipient should obtain a disclosure document, a Product Disclosure