Westar Resources Ltd (ASX:WSR) has transitioned from reverse circulation (RC) to diamond drilling at the Mt Finnerty farm-in and joint venture (JV) project with Ramelius Resources Ltd in WA.
Together with exploration partner and fellow ASX-lister Ramelius, the gold explorer released positive final assays from a 21-hole follow-up program over the Flinders and Tasman gold prospects.
The best findings at Flinders include 1-metre at 11.8 g/t gold from 139 metres, 7 metres at 3.44 g/t from 166 metres and 2 metres at 10.5 g/t from 224 metres.
Meanwhile, work at the Tasman prospect returned 8 metres at 4.7 g/t and 5 metres at 3.01 g/t, both from 142 metres.
Now, the focus has turned to diamond drilling — two holes are already in the can and another nine diamond tails are planned for the current campaign.
Looking ahead to diamond results
Westar Resources managing director Karl Jupp said: “The RC drilling results are a solid follow-up to the initial exceptional results at both the Flinders and Tasman prospects.
“The difficult ground conditions that have hindered this RC drilling campaign are frustrating; however, we are encouraged by the evolving geological framework and RMS’s dedication to establishing the potential of the project with diamond drilling.
“We look forward to RMS building on the Mt Finnerty successes to date and reporting the results of the diamond drilling in the coming months.”
About the farm-in
The Mt Finnerty Project is at the heart of a farm-in and joint venture agreement between Ramelius and Westar subsidiary Rouge Resources.
Under the farm-in deal, Ramelius may earn up to a 75% interest by spending $2 million over a three-year period.
Westar will hold a free carried 25% interest until a decision to mine is made, at which point Westar can contribute to ongoing expenditure or dilute its interest in the project.
Mt Finnerty includes Flinders to the north and Tasman to the south, spanning 9 kilometres of strike east of the regional Mount Dimer Shear Zone.