Western Mines Group (ASX:WMG) High-grade Nickel Sulphide assay results

17 September 2024

Price Sensitive Announcement $

Overview:

Western Mines Group Ltd (WMG or Company) (ASX:WMG) is pleased to update shareholders on geochemical assay results recently received for three Phase 3 reverse circulation (RC) drill holes at the Mulga Tank Project, on the Minigwal Greenstone Belt, in Western Australia’s Eastern Goldfields.
Assay results have been received for holes MTRC044 to MTRC046, located to the south of previous RC drilling within the main body of the Mulga Tank Complex. Results from all three holes highlight broad intersections of nickel sulphide mineralisation, with all holes ending in mineralisation.

Highlights:

• Geochemical assay results received for Phase 3 RC holes MTRC044 to MTRC046 at Mulga Tank
• All holes show broad zones of nickel sulphide mineralisation – elevated Ni and S coincident with
  highly anomalous Cu and PGE:

  MTRC044 Cumulative 187m at 0.28% Ni, 121ppm Co, 34ppm Cu, 10ppb Pt+Pd with S:Ni 0.8*
  MTRC045 Cumulative 174m at 0.28% Ni, 125ppm Co, 49ppm Cu, 14ppb Pt+Pd with S:Ni 0.7*
  MTRC046 193m at 0.33% Ni, 152ppm Co, 310ppm Cu, 25ppb Pt+Pd from 107m S:Ni 1.5*

• Standout results from MTRC046 with the best high-grade intersection ever drilled at the Mulga Tank
  Project
• Two high-grade zones confirming extension of mineralisation to the south of hole MTRC032:
  MTRC046
• 10m at 0.81% Ni, 352ppm Co, 0.28% Cu, 77ppb Pt+Pd from 224m
  inc. 4m at 1.14% Ni, 501ppm Co, 803ppm Cu, 0.14g/t Pt+Pd from 224m
  and inc. 5m at 0.61% Ni, 258ppm Co, 0.49% Cu, 32ppb Pt+Pd from 229m

  7m at 1.52% Ni, 578ppm Co, 0.16% Cu, 0.17g/t Pt+Pd from 282m
  inc. 5m at 1.92% Ni, 711ppm Co, 0.21% Cu, 0.18g/t Pt+Pd from 283m

  MTRC032

• 3m at 0.60% Ni, 337ppm Co, 0.1% Cu, 44ppb Pt+Pd from 131m
  inc. 1m at 1.08% Ni, 602ppm Co, 379ppm Cu, 83ppb Pt+Pd from 131m
  6m at 1.01% Ni, 443ppm Co, 0.32% Cu, 0.12g/t Pt+Pd from 254m
• Mineralisation appears to correlate between holes MTRC032 and MTRC046 and possibly be
  thickening and enriching towards the south
• All three holes located outside the area of JORC Exploration Target modelling – demonstrating the
  system remains open to the south and potential for an increase in the Exploration Target estimate
• WMG continues to de-risk and expand a potentially globally significant, large-scale, open-pitable
  nickel sulphide deposit at Mulga Tank

Company Notes:

WMG Managing Director Dr Caedmon Marriott said: “The team are excited by these results, with MTRC046 showing the best high-grade intersection at the project, to date. Its further validation of the extensive Mulga Tank nickel sulphide mineral system and the potential the Complex could hold. The more we drill the more we’ve become increasingly convinced of the hybrid nature of the system and potential to host higher grade massive sulphide.

A very large, low-grade, open-pitable deposit has been defined within the Complex by the various phases of drilling so far but within that a number of these high grade pods/zones are starting to emerge as we increase drilling density.

Also of note in these results is that all three holes fall outside the area of previous drilling used to
define our JORC Exploration Target. Whilst the mineralisation in holes MTRC044 and MTRC045
wasn’t quite as robust as recent results for the core area, they certainly contain significant
mineralisation and demonstrate the system remains open to the south. We’ll follow-up on hole
MTRC046 with DHEM and further RC and diamond drilling in this area.”

Full Company Announcement: WMG Mulga Tank MTRC046 Assay Results 170924 FINAL (discoveryalert.com.au)