Western Yilgarn locks up more ground on the mineral-rich Ida Fault
Special Report: Western Yilgarn has more than doubled the size of its highly prospective Bulga project in Western Australia after securing two new lease applications.
Bulga sits on the Ida Fault, which is proving to be a hotbed of activity for critical minerals exploration, with new neighbour TechGen Metals (ASX:TG1) recently identifying high levels of lithium and other pathfinder elements, such as caesium, tantalum and rubidium, in historical data.
Western Yilgarn’s (ASX:WYX) other neighbours include Delta Lithium’s (ASX:DLI) advanced 12.7Mt @ 1.2% Li2O Mt Ida deposit, 50km to the south, while Rio Tinto (ASX:RIO) also has taken up tenure adjoining WYX’s ground.
The company notes that this underexplored section of the belt has been sparsely drilled and the greenstone sequence appears to have an interpreted maximum thickness of about 1,000m.
Mapping is difficult due to transported cover so extensive auger-geochemistry was used to unlock the potential.
In mid-November, the company started an extensive 1,338 hole Phase 3 infill auger drilling program to provide greater clarity on the results from the earlier phases. Added to the first and second phases, the total number of holes drilled to date currently exceeds 3,000.
The grant of the two new lease applications adds 275km2 to Bulga, taking its total leased area up to 477km2.
“Western Yilgarn’s pioneering work in our Ida Fault location will be augmented at these targeted leases, which were applied for in February 2023,” WYX chairman Peter Lewis said.
“The 100%-owned Bulga exploration licences are a strategic asset which together with the Julimar West, Boodanoo and Sylvania projects, position Western Yilgarn as a fast-growing exploration company focused on some of Australia’s most prospective exploration regions.”
WYX is currently preparing a Program of Work application to the WA Government to ensure exploration activity can commence on the newly granted licences as soon as possible in early 2024.
Future work could include geophysics, geochemical, electromagnetic surveying, soil sampling and drilling.
This article was developed in collaboration with Western Yilgarn, 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.