December Quarter Update: Great Western Exploration Reports High-Grade Commodities

  • Feb 03, 2020 AEDT
  • Team Kalkine
December Quarter Update: Great Western Exploration Reports High-Grade Commodities

December 2019 quarter update of Great Western Exploration Limited (ASX: GTE) has demonstrated high-grade gold mineralisation at its Yandal West Gold Project. The company also provided quarterly update on other key projects.

To know more about GTE projects, please read: Overview Of Gold And Base Metal Explorer, Great Western Exploration Limited

Let us now go through the company’s activities during the December quarter vis-à-vis projects.

Significant High-Grade Gold Mineralisation Confirmed at Yandal West Gold Project

During the quarter, the company confirmed presence of high-grade gold mineralisation across its Harris Find and May Queen East shear zones along with identification of a new high-grade gold target, at Yandal West Gold Project.

Harris Find Shear Zone: Three RC holes were completed during the three months to December 2019 with two holes intersecting the main target zone gold mineralisation to the south, confirming substantial high-grade gold mineralisation.

  • 2m @ 7.75 g/t gold from 20m and 2m @ 1.38 g/t from 52m;
  • 4m @ 0.54 g/t gold from 28m.

The result also supported results the previous drilling and sampling work (2m @ 15 g/t gold, 2m @ 6.55 g/t gold and 7m @ 4.31 g/t gold), as well as from underground sampling (105 g/t, 10.6 g/t and 9.6 g/t).

Also, it is pertinent to mention that the gold trends continue to pass the previous drilling limits to 340m strike where new rock chip assay results include 28 g/t gold, 19.8 g/t gold and 0.65 g/t gold.

Drilling assessed a depth of up to forty metres, and the mineralisation is open in all directions.

May Queen East Shear Zone: Drilling along the Harris Find Shear Zone provided further indication of substantial gold trends for at least ~ 550m and the mineralisation remains open along with the strike and at depth.

For the same, three holes were drilled, of which two holes were drilled to a gold rock chip of 4.19 g/t crossed near surface high-grade gold that consists of 2m @ 3.89 g/t (incl 1m @ 7.3 g/t) gold from 3m. The third hole was drilled to assess the outcropping gold mineralisation of 31.1 g/t situated ~50m south of drill hole, i.e. 3m @ 5.01 g/t gold, returning no intersect of high mineralisation. However, GTE believes that the target area is located too far east and therefore, failing to reach the primary trend.

New High Grade: A new gold target was identified ~2km north of Harris Find Shear Zone, returning 23.5 g/t gold rock chip sampling.

Along with positive gold indication, drilling also confronted with stratigraphy and semi-massive sulphide mineralisation, typically related to VMS style mineralisation.

Yerrida South Project - Believed to Hold Widespread Vanadium Mineralisation

Previously, the project indicated extensive vanadium mineralisation, involving several gossans with high-grade vanadium in rock chip samples up to 1.6% V2O5. The company also reported significant areas of laterite with surface sampling result of 0.3% to 1.0% V2O5.

Want to know about Vanadium, please read: Vanadium to Cast Shine on Great Western Exploration’s Yerrida South Project

Yerrida North JV Tenure - Geological Mapping Programme

Yerrida North JV tenure, consisting of copper-gold, copper-cobalt, nickel-cobalt and gold mineralisation, is a joint venture between GTE and Sandfire Resources NL (ASX: SFR). Under the earn-In agreement, SFR can earn 70% in the tenements, on the basis of funding exploration.

During the quarter, compilation of a geological mapping programme continued to entail geological mapping details along the south basin towards better understanding the geological constraint and enable analogy with prospective Bryah basin and VMS-host stratigraphy. Sandfire also reported that lithogeochemical and petrographic work is continuing to detect certain areas of Bryah-like VMS-host lithologies.

Lake Way Potash and Lithium Brine Project - Exceptional Economics

The project is located near Salt Lake Potash Limited’s (ASX: SO4) high-grade potash brine projects. The SO4 Bankable Feasibility Study reported during the quarter demonstrated exceptional economics at the Lake Way potash brine.

The GTE project is the downstream extension of the main basal channel that SO4 is targeting and which they show extending approximately 9km into the company’s project.

During the quarter, the company confirmed Native Title negotiations that include the area of Lake Way where the basal channel enters the project area.

Do GTE projects have access to requisite infrastructure? Must Read: Gauging Nearby Infrastructure For Great Western Exploration’s Yandal West Gold Project

GTE Future Plan

The company is planning for a follow-up drilling program for its Harris Find and May Queen East shear zones along with continuation assessment of VMS potential across the Yandal West project, which will be reported in due course of time.

Stock Price Information – The GTE stock price traded at $ 0.003 on 3 February 2020, with a market cap of $ 3.76 million.

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