Dynamic Metals has gold drilling planned this quarter at Widgiemooltha
Dynamic Metals Ltd is in the advanced planning stages for drilling this quarter at the Widgiemooltha Gold Project south of Kalgoorlie in Western Australia to follow-up highly encouraging sampling which returned up to 2,040 g/t gold.
The reverse circulation drilling will target Cognac West prospect on the Goldrush tenement from which more than 68 nuggets have been reported to the WA Department of Energy, Mines, Industry Regulation and Safety in the nine months to October 2024.
Dynamic is well-funded to continue exploration at the flagship Widgiemooltha project and fieldwork at other WA tenements with a cash balance of $4.7 million at the end of the December 2024 quarter.
Focus on Widgiemooltha gold
Widgiemooltha, which is about 550 kilometres east of Perth and 100 kilometres south of Kalgoorlie, lies within a known corridor of world-class komatiitic nickel sulphide deposits and orogenic gold deposits and historic exploration activities have been focused on these two commodities.
More recently, the area has also emerged as a lithium belt with three lithium-caesium-tantalum (LCT) pegmatite-related mines developed in the past few years. Dynamic has a farm-in and JV with a subsidiary of Mineral Resources (MinRes) covering lithium mineral rights on the Widgiemooltha tenement package.
During the September 2024 and December 2024 quarters, Dynamic undertook a systematic gold targeting exercise across its Widgiemooltha tenure.
This process involved integrating historic exploration datasets, interpreted bedrock geology and structural interpretations built from high-quality open file airborne magnetic survey data.
Initial findings from the targeting work highlighted the Cognac West and Chalice South prospects as two priority areas.
Cognac West has been subject to near-surface exploration dating back to the 1970s including soil sampling and shallow drilling, with historical data sets often incomplete and limited to gold assays only. A peak historic drill hole gold assay from the 1990s includes 1 metre at 91.3 g/t from 41 metres.
Consequently, Dynamic began gathering new, high-confidence data as part of its systematic approach to exploration.
For the first step in this process, Dynamic completed soil sampling over an area of about 3 kilometres by 2 kilometres and collected samples every 50 metres along 200-metre spaced east-west lines.
In September 2024, the company received first results from soil sampling at the Cognac West prospect where two strong gold anomalies were identified.
During the December quarter, Dynamic returned to the prospect to complete additional sampling with the aim of filling gaps where samples were missing from the first soil program and extend soil sampling lines to the east where the anomaly remained open.
Several high-grade results were returned from soil samples spaced at 50 to 100-metre intervals, including:
In late October 2024, assays were returned from rock chip sampling of float, sub crop and outcrop across the Goldrush tenement with encouraging results from multiple locations at Cognac West, including 2,040 g/t in DM1007 in Anomaly A.
Mapping around a western soil anomaly (Anomaly B) identified discrete outcropping gabbro intrusions, the margins of which show evidence of a network of highly weathered shear zones within mafic volcanics that may be related to a gold mineralising system.
The mapping confirmed that outcrop and residual soils dominate the surficial geology, allowing the company to employ infill soil sampling to further define the geometry of the gold anomalism established to date.
Rock chip samples were taken from outcropping geology with the best result to date of 3.27 g/t coming from an iron-rich brecciated quartz vein.
The company returned to Cognac West in November 2024 to complete 755 infill soil samples on 100-metre spaced lines, with 25 metres between samples.
These results refined several higher-grade zones of +0.1ppm (100ppb) which have been incorporated into plans for RC drill testing in early 2025.
Dynamic also plans to drill-test the Chalice South prospect later this year after 3D geological modelling using historic drill datasets highlighted multiple prospective drill targets for follow up.
Chalice South is south of the Chalice Gold Mine currently held by Westgold Resources and Dynamic’s exploration licence 15/1721 is coincident with 14 kilometres of greenstone geology and the same structural corridor that hosts the Chalice deposit.
The Chalice open pit was mined by Resolute Limited in the late 1990s with 2.9 million tonnes at 5.6 g/t for 517,000 ounces produced. A small underground mining operation by Avoca Resources Ltd produced a further 993 tonnes at 3.91 g/t with the mine placed on care and maintenance in 2015.
Following the 3D modelling, Dynamic’s exploration team has completed ground-truthing of the targets to evaluate priority order for drill testing.
During the last 12 months, Dynamic progressed the grant of three tenements covering 300 square kilometres of the Lindsays Project 60 kilometres northeast of Kalgoorlie.
The company has generated 36 gold targets at the project through desktop analysis of historic soil and drill data, combined with structural and radiometric analysis to determine the effectiveness of historic exploration.
Of these, 18 targets have been identified as a priority for field assessment to confirm surficial geology through mapping and sampling to determine priority for drill testing. In addition, 22 lithium targets were generated in the first-pass desktop targeting exercise.
Further analysis of the anomalies indicated that the northernmost targets were supported by caesium, tantalum and niobium, indicating potentially higher degree of fractionation.
This supporting information has directed ranking of targets and as a result, five targets in the northern portion of the project have been identified as a priority for field assessment.
This approach has focused the company’s attention on several targets that it intends to follow up in a comprehensive field campaign in 2025.
At the Widgiemooltha lithium JV during the December quarter, MinRes successfully applied to secure a grant for drilling at the Pioneer Dome West prospect under Round 30 of the WA Government Co-Funded Exploration Incentive Scheme.
Successful applicants are granted up to $180,000 to cover direct drilling costs and mobilisation through a competitive application process.
In its application, MinRes proposed a program of 10 RC and diamond holes for a total of up to 2,300 metres.
This program is designed to increase understanding of the stratigraphic and structural controls on the emplacement of LCT pegmatites in the Pioneer Dome area as well as the prospectivity of the Boorabbin and Pioneer Dome batholiths as potential granitic sources to LCT pegmatites.
Source: https://www.proactiveinvestors.com.au/