Westar Resources Ltd (ASX:WSR) is set for strong results-driven newsflow in the coming months across its project portfolio in Western Australia.
The company will also be kept very busy in the months ahead as it progresses exploration across its projects, in line with its three-pronged exploration rationale.
The company closed the June quarter with $3.063 million cash and remains well funded for its 2021 exploration activities.
Also in the June quarter, the company completed the acquisition of the historically high-grade producing Birrigrin Mining Centre and Carbine Bore tenements adjoining the Gidgee South Gold Project.
Westar holds 100% ownership over seven projects in Western Australia - the Sandstone Projects, Gidgee South and Gidgee North, the Mt Magnet Projects, Winjangoo and Coolaloo and the Pilbara Project, Opaline Well.
The Southern Cross Projects, Mt Finnerty and Parker Dome held by Westar under a farm-in/joint venture agreement with Ramelius Resources Ltd having the right to earn a 75% interest.
‘Very strong results-driven news flow’
Westar managing director Karl Jupp said: “Q2 CY2021 has been exceptionally busy at our focal Gidgee South Project with the completion of our maiden RC drill program and contiguous, synergistic acquisitions of the historic Birrigrin Mining Centre and Carbine Bore tenure.
“In addition, Westar commenced another maiden RC drill program at Winjangoo, a DGPR program at Gidgee South, field reconnaissance at Opaline Well and geophysical and litho-structural targeting exercises at Gigee North.
“With our earn-in partner, Ramelius Resources expected to soon commence drilling at Mt Finnerty and Parker Dome, we’re expecting a very strong results-driven news flow in the coming months across the total portfolio of Westar’s Projects.”
Three-pronged exploration rationale
Its three-pronged exploration rationale is summarised as:
- Maximise discovery potential of key assets through diligent application of capital and resources, utilising best practice systematic exploration and technology;
- Diversify risk on appropriate assets through partnering with fast-moving companies with reputations for building mines; and
- Continuously evaluate a pipeline of prospective opportunities under the mantra ‘succeed swift or fail fast’.
Sandstone Projects
At the Gidgee South, the company is awaiting assays from the reverse circulation (RC) drill program.
Once received, they will be uploaded into the database prior to review and interpretation by Westar geologists.
The results of the deep ground penetrating RADAR (DGPR) program will be reviewed and integrated into Westar datasets.
Results dependent, Westar will immediately proceed to plan subsequent exploration programs.
At Gidgee North, Westar completed a review of the open file Panoramic 2015 SkyTEM data (airborne EM) and historical geochemical datasets to assess the region for base-metals (Cu-Zn) prospectivity, which will be reported in due course.
Data from the PGN Geoscience (PGN) litho-structural interpretation of the Northern Gum-Creek Greenstone belt has been integrated into Westar datasets and will also be reported in due course.
Application for an additional 20 blocks of tenure adjoining North of Gidgee North (E51/2044) has been submitted to the Department of Mines, Industry Regulation and Safety (DMIRS) with approval pending at the end of the second quarter of 2021.
A field mapping, soil sampling and rock-chip sampling program is planned to commence in the third quarter at Gidgee South, which will focus on preliminary gold as well as copper-zinc target regions identified from historical exploration programs and datasets.
The results from this program, analysed in context with the PGN litho-structural interpretation and SGC review of the SkyTEM data will be used to define and rank drilling targets for the second half of 2021.
Mt Magnet Projects
The RC drilling program at Winjangoo has commenced, with completion expected late July/early August.
Winjangoo will also be assessed for the potential application of either Mobile Metal Ion MMI and/or ultra-fines soil geochemical sampling over the southern part of the lease, where an interpreted greenstone and structural corridor lie under more extensive alluvial cover.
Pilbara Project
Westar engaged PGN to complete a litho-structural interpretation and deformational history of the Opaline Well Project and region based on Westar’s remote sensing geophysical data and DMIRS open file historical data.
Results of the study are being integrated into Westar datasets and used to assist in target definition and ranking.
Also, it had completed a reconnaissance and rock-chip sampling program that is currently under review and will be reported in due course.
Going forward, a field mapping and rock-chip sampling program is planned to be completed, which will focus on the region and surrounds of the initial reconnaissance completed in June.
Southern Cross Projects
Ramelius Resources are progressing preparations at the Mt Finnerty project ahead of drilling planned for 2021.
Preparations include permitting to access private haul roads, selection of civil earthwork contractors for clearing of tracks, pads and sumps.
At the Mt Finnerty project, Ramelius Resources has communicated all POW’s are approved to support planned aircore and RC drilling to confirm and extend on historical intersections.
At the Parker Dome project, planned works include a regolith review, re-logging of historical drill spoil and assessing site access for proposed drilling and site heritage clearance.
Minimise turnaround time
Westar also noted the current backlog of assays at all suitable laboratories in Western Australia and has ensured all appropriate measures under its control are in place to minimise turnaround time from drilling to reporting.
Covid restrictions in Western Australia have not caused any material delays to exploration execution or its business plans.