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Western Mines Group Ltd (ASX:WMG)

ALERT: Price-sensitive ASX Announcement for WMG
Current share price for WMG : $0.150 -0.095 (-38.78%)+
Announcement
Release
8 Sep 2025 9:04AM
Price at Release
$0.245
Full Release
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Summary
Western Mines Group Ltd has completed a diamond drill hole, MTD030 (EIS8), at the Mulga Tank Project located on the Minigwal Greenstone Belt in Western Australia's Eastern Goldfields. This hole, reaching a depth of 708.6 meters, intersected approximately 530 meters of high MgO olivine cumulate lithologies, revealing visible nickel sulphide mineralisation throughout. The drilling was part of a stratigraphic study to explore a 1.5km magnetic high feature, confirming the presence of a dynamic komatiite flow system, which is prospective for high-grade Kambalda-style massive sulphide deposits. Initial findings from spot pXRF readings indicated nickel concentrations up to 41.3%. The drilling was co-funded by the Western Australian Exploration Incentive Scheme (EIS) grant. Future exploration will continue to assess the area’s potential as the company establishes its onsite core cutting capability for further detailed analysis.
Key Points
  • Completion of diamond hole MTD030 (EIS8) at Mulga Tank to 708.6m depth.
  • Intersected ~530m of high MgO olivine cumulate lithologies with visible nickel sulphide mineralisation.
  • Frequent horizons of disseminated mineralisation and high-tenor nickel sulphide blebs confirmed by spot pXRF up to 41.3% Ni.
  • Stratigraphic hole targeting ~1.5km long magnetic body within tenement E39/2134 confirms geological interpretation.
  • Visual mineralisation indicates prospective dynamic komatiite flow system, confirming belt-scale potential.
  • Drilling co-funded by WA EIS grant, covering 50% of costs up to $220,000.
  • Future updates to be provided as the company sets up onsite core cutting capability.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.