During the March quarter, Dynamic Metals Ltd reported good progress at its flagship Widgiemooltha Project in Western Australia, wrapping up Phase 1 drilling at the Cognac West gold prospect and gearing up for an expanded Phase 2 program that will start in the June quarter.
Only 100 kilometres south of Kalgoorlie, the Widgiemooltha Project lies within a prolific corridor known for hosting orogenic gold and komatiitic nickel sulphide deposits.
In recent years, the region has also emerged as a lithium hub, with several lithium-caesium-tantalum (LCT) pegmatite mines now in operation.
Dynamic’s current focus is the Cognac West prospect, where the company completed 32 reverse circulation (RC) drill holes for a total of 4,800 metres during the March quarter.
Fourteen holes were drilled across Anomaly A and 18 across Anomaly B.
This first-phase program followed approval of the Program of Work (POW) by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS) in January and completion of a heritage survey in February.
Initial assay results are expected by late April, with early samples taken as four-metre composites to optimise cost and productivity.
Zones returning anomalous gold grades will be resampled at one-metre intervals to refine geological interpretations.
Enhanced geological understanding
The first phase is expected to significantly enhance the understanding of fresh rock geology at Cognac West, which is situated adjacent to the Republican Thrust and hosts a structurally complex setting with second-order structures around a late felsic intrusion.
Cognac West has seen limited historic exploration, with incomplete datasets largely restricted to gold assays.
Historical highlights include a peak intercept of 1 metre at 91.3 g/t gold.
In 2024, Dynamic conducted a detailed soil sampling program supported by geological mapping and rock chip sampling, which returned assay results of up to 2,040 g/t gold.
These results were used to generate drill targets for the current campaign.
Phase 2 drilling, approved and ready to commence in the June quarter, will include up to 40 RC holes designed to further test and extend identified anomalies.
At Chalice South, just south of the historical Chalice Gold Mine, Dynamic completed 3D modelling using historic drill data and identified multiple follow-up targets for calendar year 2025.
The Chalice open pit produced over 500,000 ounces of gold historically and remains a compelling exploration area along a proven structural corridor.
The company also progressed exploration at its Lindsays Project, northeast of Kalgoorlie, where a desktop study generated 36 gold and 22 lithium targets across three newly granted tenements.
Eighteen gold targets and five lithium targets have been prioritised for field assessment in 2025.
Dynamic’s self-funding model continues to be supported through joint venture agreements across non-core assets, including partnerships with Mineral Resources Limited, GWR Group and Future Battery Minerals.
The company ended the March 2025 quarter with a cash balance of A$4.1 million, maintaining a strong financial position to advance its exploration programs.