Westar quick to hone in on WA gold targets
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Special Report: Newly listed gold explorer Westar Resources has wasted no time in getting on with the task of defining and prioritising targets for drilling in the near future at its Western Australian gold projects.
Westar (ASX: WSR), which started trading on the ASX on 17 December after raising $5 million in an IPO, has issued several announcements in recent weeks detailing encouraging signs received from targeting activities at its projects.
The most recent, released on Thursday, related to a geophysical survey and preliminary drilling at the Gidgee South Project, near Sandstone in the Yilgarn region, which currently ranks as the company’s main priority.
“The recently flown geophysical survey has been instrumental in recognising sub-surface geological features and it is very encouraging that several of these magnetic trends align with historical workings,” managing director Karl Jupp said.
“Further positive indications are that these magnetic trends appear to strongly influence much of the anomalous geochemical data.
“This is exactly what we want to see to continued developing our mineralisation models and refining our targets ahead of drilling.”
Following further analysis of the results and target evaluation, Westar expects to commence a program of RC drilling at Gidgee South either late this quarter or early in the June quarter.
The project is prospective for shear-hosted gold mineralisation within granite greenstone contacts, banded iron formation-hosted mineralisation and structurally controlled quartz vein-hosted mineralisation.
Prior to the company listing, Jupp described Gidgee South as “a geologist’s dream” as it lies along strike from the historic Birrigrin Mining Centre and features historic workings, dryblower heaps and a large soil anomaly that has never been drilled.
Before the RC program kicks off at Gidgee South though, Westar will potentially have started drilling at its two projects near Mt Magnet in WA’s Murchison region.
As communicated to the ASX over the past couple of weeks, early-stage exploration work has been successful in identifying promising gold targets at both the Coolaloo and Winjangoo gold projects.
At Coolaloo, 25km south of Mt Magnet, geochemical results from auger drilling have confirmed the priority targets identified in a recent review of geophysical information conducted by Southern Geoscience Consultants.
The review identified and prioritised 12 targets at Coolaloo, with five of those deemed “high priority”. These will be tested using more meaningful drilling methods this quarter.
At Winjangoo, 40km north of Mt Magnet, auger drilling has identified six high priority drill targets. These have been ranked with the highest priority moving immediately to drill program design.
WA government approval has been received for the Program of Work submitted for Winjangoo, enabling immediate access for drilling.
Westar also holds two exploration projects in the Southern Cross region, Mt Finnerty and Parker Dome, which are the subject of a farm-in agreement with goldminer Ramelius Resources, and the Opaline Well project in the Pilbara.
Like Gidgee South, Coolaloo and Winjangoo, the Southern Cross projects and Opaline Well are located on recognised greenstone belts and present the potential for meaningful gold discoveries.
Jupp said the mantra adopted in establishing Westar four years ago was “the right rocks, the right locations, the right people”, which influenced the portfolio of assets that the company assembled.
This story was developed in collaboration with Westar Resources, a Stockhead advertiser at the time of publishing.
This story does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.