Westar Resources Ltd (ASX:WSR)’s farm-in partner Ramelius Resources Ltd has started a reverse circulation (RC) drilling campaign of up to 3,400 metres at the Mt Finnerty Project, north of Southern Cross in the Archaean Marda-Diemals greenstone belt.
A regional aircore program of around 2,500 metres focused on an initial target area of structural complexity along the granite-greenstone contact south of Tasman prospect is planned for the fourth quarter of 2021.
Mt Finnerty covers more than 9 kilometres of greenstone-granite contact that has been subject to limited modern-day exploration.
Clear future potential
Westar managing director Karl Jupp said: “We are extremely excited about Ramelius commencing drilling at the Mt Finnerty project.
“Mt Finnerty hosts known gold mineralisation over several previously defined prospects, with some outstanding high-grade historical drill intercepts.
“There is clear future potential here for an open-pit resource to be defined and there is minimal drilling at depth or along strike of the known mineralisation”.
Historical high-grade intercepts
The drilling campaign will follow up on historical high-grade gold intercepts, including:
- 9 metres at 98.2 g/t gold from 62 metres, including 4 metres at 215.8 g/t from 62 metres;
- 1-metre at 236.3 g/t from 126 metres;
- 9 metres at 9.95 g/t from 51 metres; and
- 24 metres at 3.68 g/t from 45 metres; including 4 metres at 12.6 g/t from 46 metres.
Mt Finnerty and Parker Dome
The Mt Finnerty and Parker Dome projects are subject to a farm-in and joint venture agreement between Ramelius Resources and Westar Resources’ wholly-owned subsidiary, Rouge Resources.
Under the terms of the agreement, Ramelius may earn up to a 75% interest by spending $2 million over a three-year period.