The Conversation (0)
West Cobar Metals Limited (ASX:WC1) (“West Cobar”, “WC1” or “Company”) has previously announced3 the conditional 100% acquisition of an exploration licence E28/2513 in the Fraser Range Province of Western Australia, highly prospective for orogenic gold deposits.
Highlights
- Progress towards completion of recent agreement for acquisition of IGO Limited’s 100% interest in tenement E28/2513 (“Mystique Project”)
- Highly prospective for gold in the Fraser Range, Western Australia, with exciting targets emerging
- Exceptional gold intercepts at the nearby Themis Prospect (250m outside of, and north of, the Mystique Project boundary), reported by Rumble Resources Limited, includes intersections of:
- 18AFAC307711 - 25m @ 2.42g/t Au from 42m, including 5m @ 10.85g/t Au from 49m
- 20AFAC113212 - 16m @ 6.69g/t Au from 42m, including 4m @ 22.2g/t Au from 50m
- Immediate targets at Mystique, supported by widespread drill intersected gold anomalism in transported cover and saprolite, are:
- to drill test the saprolite gold mineralisation
- to drill test and define significant gold mineralisation targets in the basement rocks
- Exploration drill programme now planned to follow up key targets on the Mystique Project
- Further acquisition of 70% joint venture interest from IGO Limited in three adjoining tenements (E28/2528, E28/2529 and E28/2595, “Thunderstorm Project”) will not proceed after notification that joint venture partner Rumble Resources Limited will pre-empt the acquisition
Exploration licence E28/2513, known as the Mystique Project covers 35km2 within the Albany-Fraser Province and is located approximately 225km SSE of Kalgoorlie.
While exploring the adjoining tenements for nickel-copper mineralisation, the IGO Limited / Rumble Resources Limited joint venture encountered outstanding gold intercepts in saprolite and bedrock, in particular at the Themis prospect, just outside of, and north of, the E28/2513 tenement boundary.1,2
West Cobar Metals’ Managing Director, Matt Szwedzicki, commented: “We are excited to progress the acquisition of the Mystique Project, which is highly prospective for gold.
The tenement comprises a key land area with exceptional and immediate potential for both shallow saprolite hosted and large-scale basement hosted gold deposits. We have identified two high priority targets which warrant immediate attention.
Themis South, on E28/2513, has the potential of being a large mineralised system, with thick, high-grade gold zones intercepted just outside the tenement boundary.
In addition, the Torquata prospect is a very large calcrete gold anomaly which contains a number of areas that require testing.
We look forward to completing this acquisition and to begin exploring.”
Figure 1: Location of Mystique Project and West Cobar’s Salazar Project in the Fraser Range
Exploration to Date
The Mystique Project remains relatively unexplored as most of the area is covered by 30m or more of transported Eocene sediments and there is little surface expression of geology or mineralisation.
Exploration work by IGO included gravity surveying, MLEM (Moving Loop EM – ground survey along lines 400m apart) and air core drilling (nine holes for 630m). Prior to IGO’s involvement, the licence area E28/2513 had been explored for mineral sands and for gold, notably by Iluka Resources Ltd, Homestake Gold of Australia Ltd, SIPA Resources NL and Blackfire Resources Ltd who drilled 165 air core, seven RC and three diamond holes. The result is a data set which includes geophysics and a drill database, that enables West Cobar to concentrate initially on well-defined high priority gold prospects. The historical exploration covering EL28/2513 has been reported previously in the West Cobar release to the ASX of 5 March 2025.3
Figure 2: Themis South and Torquata Prospects – possible extension of gold mineralisation intersected in air core drilling, just to north of tenement boundary along structural corridor interpreted from aeromagnetics (intersections outside of E28/2513, see references 1 and 2)
Click here for the full ASX Release
This article includes content from West Cobar Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Strategic US Antimony Acquisition, Coyote Creek
Highlights:
- EVR has reached agreement with a private US Investor to acquire 49 unpatented claims over the Coyote Creek Antimony Project in Utah, USA.
- The claims cover both old workings and waste from historical antimony mining up to the 1920’s.
- A historical non JORC resource estimate of 12.7 million metric tons grading 0.79% Antimony was estimated by the Utah Geological and Mineral Survey in 1975.
- The historical estimate above is not reported in accordance with the JORC Code. A competent person has not done sufficient work to classify the historical estimates as mineral resources or ore reserves in accordance with the JORC Code, and it is uncertain that following evaluation and/or further exploration work that the historical estimates will be able to be reported as mineral resources or ore reserves in accordance with the JORC Code.
- The USA currently has no operating antimony mine and imports all its antimony concentrates.1
The USA imports all of its antimony concentrates at present1 and the Coyote Creek Project appears to have the potential to become a domestic supplier of antimony at a time of well documented supply shortages.
This acquisition follows EVR’s recent announcement of the proposed acquisition of 70% of Los Lirios, an open pit antimony mine in Oaxaca state Mexico. The Coyote Creek Project fits with EVR’s preference to develop an Americas antimony division based upon open pit mining opportunities. (See ASX announcement “Acquisition of Los Lirios Antimony Mine (EVR 70%) Mexico” dated 28th January 2025).
Background to Coyote Creek Antimony Project
The demand for raw materials for the defense effort during the 2nd World War prompted a review of the Coyote Creek Project, and field work including trenching was conducted between November 1941 and February 1942.
Location
The Coyote Creek claims are located in Garfield County, Utah, 11km east of the town named Antimony. The Canyon in which it is located is referred to variously as Coyote Creek Canyon or Antimony Canyon. Access to the project is via paved roads and then unpaved forestry roads navigable with a low clearance vehicle.
Map 1 Location of the Project
Map 2 Claims at Coyote Creek
Click here for the full ASX Release
This article includes content from Ev Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.