PERTH (miningweekly.com) – Nickel miner Western Areas will spend another A$400 000 on exploration at ASX-listed Monax Mining’s Western Gawler Craton project, to earn 75% interest in the project.
In October 2014, Western Areas inked a farm-in agreement with Monax to spend A$800 000 to earn a 75% interest in the project.
Western Areas had now completed its Stage 1 earn-in expenditure and elected to proceed with the Stage 2 earn-in.
To date, some 65 drill holes totalling 5 789 m had been completed, and samples had been submitted for laboratory assaying. The initial drilling programme was a mix of focused holes targeting interpreted mafic intrusions along with more broadly spaced holes aimed at providing geological/lithological information to assist with potential future drilling programmes.
Monax MD Gary Ferris said on Tuesday that the company was pleased that Western Areas was progressing with exploration ahead of schedule, and was looking forward to the initial drilling results.
“The Western Gawler Craton is vastly under-explored and the area is interpreted to share a similar geological history to the Albany-Fraser belt, in Western Australia, which hosts the Nova-Bollinger nickel-copper deposit.
“Monax believes the Western Gawler Craton is highly prospective and the current drilling programme will provide important geological information which will assist in understanding the geological history and potential in this area.”