Shares of mineral exploration company Western Mines jumped almost 40% after the company announced it?s found about 300 metres of disseminated sulphides in Western Australia?s Eastern Goldfields.
The discovery was made at its flagship Mulga Tank Ni-Cu-PGE Project, on the Greenstone Belt.
?Hole MTD020 was drilled more towards the centre of the Mulga Tank body and was designed to test beneath historical hold MTD011, which showed numerous intersections of Ni-Cu-PGE mineralisations.
Visible disseminated sulphides were seen throughout a thick high MgO dunite unit; this is very exciting and offers great encouragement for the prospectivity of this large ultramafic body to host both Mt Keith-style or Perseverance-style nickel sulphide deposits,? said WMG Managing Director Caedmon Marriott.
WMG is undertaking an initial ten-hole diamond drilling program, totalling 4,050m, at the Mulga Tank Ni-Cu-PGE Projet.