Westar Resources Ltd (ASX:WSR) has released an exploration update following results reported by JV partner Ramelius Resources Ltd for the Mt Finnerty and Parker Dome Project in WA.
The project is subject to a farm-in joint venture agreement between Westar-owned Rouge Resources Ltd and Ramelius.
Ramelius stands to earn 75% of income from the project by spending $2 million over a three-year period.
Mt Finnerty is roughly 200 kilometres northeast of Edna May while Parker Dome is about 150 kilometres southeast of Edna May.
Aircore program tested strike extent
Ramelius wound up a 42-hole aircore program in late 2021, which tested a further two-kilometre strike extent to the south of the Tasman prospect.
The Mt Finnerty Project area comprises a northerly located prospect referred to as Flinders and a southerly prospect called Tasman.
It ranges across a 9-kilometre strike extent that consists of a deformed and sporadically mineralised granite-greenstone contact in close proximity to the east of the regional Mount Dimer Shear Zone.
Results from campaign
At Mt Finnerty, assay results were reported for the 2021 aircore campaign. Several weak anomalous composite results were returned, including:
- 8 metres at 0.28 g/t gold from 48 metres;
- 8 metres at 0.26 g/t from 56 metres;
- 6 metres at 0.16 g/t from 60 metres to end of hole;
- 7 metres at 0.34 g/t from 44 metres to end of hole;
- 16 metres at 0.20 g/t from 40 metres;
- 16 metres at 0.17 g/t from 44 metres; and
- 3 metres at 0.19 g/t from 36 metres to end of hole.
“Drilling typically indicates a 40- to 50-metre deep, near-surface depletion zone in residual saprolitic clays.
“Until recently, the historic higher-grade results were considered to be sporadic and discrete supergene enriched zones.
“Recent reverse circulation (RC) drilling targeted areas of best previous anomalism, with new intersections demonstrating deeper primary hosted mineralisation,” WSR's managing director and CEO Karl Jupp said.
About Westar Resources
Westar Resources is a Perth-based mineral exploration company that focuses on creating value for shareholders through the development of high-quality gold and base metal assets in Western Australia.
Projects are strategically located in highly prospective parts of some of WA’s most prolific goldfields including Sandstone, Mt Magnet, Southern Cross and Nullagine.
The company’s strategy is to apply a systematic approach to the assessment and prioritisation of its projects, all of which have the potential to produce material discoveries.