Western Mines Group announced advancements in its Mulga Tank Nickel Sulphide project, revealing the potential for a major nickel sulphide mineral system.
The flagship project, located in Western Australia, boasts an estimated JORC exploration target of 350 million tonnes to 2,200 million tonnes at 0.24% to 0.35% nickel.
Caedmon Marriott, Managing Director of Western Mines Group, spearheads the exploration efforts, highlighting the project's strategic importance "An exploration-driven company looking to create value through discovery."
Recent drilling activities have yielded positive results, including high-grade nickel sulphide intersections.
Highlights from July included continuous mineralisation in the upper sections of MTD029, suggesting a robust nickel system under challenging market conditions.
The company received investment from Dundee Corporation, enhancing its financial position with a market capitalisation of approximately $22.7 million as of June 30.
The investment is expected to bolster ongoing exploration and development activities at Mulga Tank.
Western Mines Group remains committed to rigorous, high-quality technical exploration, aiming to capitalise on the nickel market's cyclic lows and position itself favourably for an anticipated upswing.
Western Mines Group is an Australia-based mineral exploration company. The company’s projects include Mulga Tank, Jasper Hill, Melita, Rock of Ages, Pavarotti, Youanmi, Broken Hill Bore and Pinyalling.
At the time of reporting, Western Mines Group’s share price was $0.265.