Woomera Mining Commences Highly Anticipated Drilling Between Million Ounce Gold Deposits

Woomera Mining Ltd (ASX: WML) has commenced a drilling program at the strategically located Wyloo Dome Gold joint venture in Western Australia’s Ashburton region.

Wyloo Dome is nestled between Black Cat Syndicate Ltd’s (ASX: BC8) 1.2 million gold ounce Paulsens, and De Grey Mining Ltd’s (ASX: DEG) 1.6 million gold ounce Mt Olympus.

Black Cat is currently working on funding to accelerate the restart of Paulsens.

The Mt Olympus deposit historically produced 242,000 gold ounces from 2.5 million tonnes at 3g/t gold, with a recovery of 92% and a strip ratio of 3:1.

Earlier in the year De Grey signed an exclusive option agreement with Kalamazoo Resources Ltd (ASX: KZR) to acquire the company’s Ashburton Gold Project which hosts Mt Olympus – highlighting the interest in the region.

Wyloo Dome Gold Project

At Wyloo Dome, drilling will cover four holes for around 1000 metres at the New Morning prospect, targeting electromagnetic conductors identified from a geophysical survey completed in 2022.

The prospect features an untested blind AEM conductor coincident with a large amplitude VTEMTM MAX anomaly.

The anomaly lies adjacent to historical drilling which returned intersections of up to 40 metres at 0.11g/t gold.

This suggests a near-miss scenario whereby this intersection is marginal to a higher-grade mineralised zone.

Woomera can earn up to a 60% equity interest from Nanjilgardy Resources Pty Ltd.

Ravensthorpe

The company is also busy at the Ravensthorpe Projects, with infill auger follow-up sampling completed across the Mt Cattlin and Mt Short joint venture project areas, targeting previously defined lithium, gold and base metal anomalies.

Assays are anticipated to be received in late April/early May.

The results will determine the follow-up drilling programs to be conducted later in 2024 subject to access relating to farming activities.

Mt Cattlin is located 6 kilometres north of Allkem’s (formerly Orocobre Limited) Mt Cattlin lithium mine.

Allkem Ltd merged with Livent to create Arcadium Lithium Ltd (ASX: LTM).

 

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