Norwest Minerals (ASX:NWM) - CEO, Charles Schaus
CEO, Charles Schaus
Source: Finance News Network
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  • Norwest Minerals (NWM) was up as much as 75 per cent this morning after receiving final results from its drilling program at the Bulgera Gold Project in WA
  • Reverse circulation drilling began late last year to determine whether the gold mineralisation at the Bulgera and Mercuri deposits continues at depth
  • Norwest has received results from three outstanding holes at Bulgera with grades peaking at 11.8g/t gold
  • Additionally, drilling at Mercuri intersected multiple to low moderate grade gold lodes with widths ranging from one to nine metres
  • Planning is now underway to test the down-dip potential of all the holes across both deposits
  • Shares in Norwest are still up a healthy 75 per cent and are trading at 14 cents

Norwest Minerals (NWM) was up as much as 75 per cent this morning after receiving final results from its drilling program at the Bulgera Gold Project in WA.

A 26-hole reverse circulation (RC) drilling program began late last year to determine whether the gold mineralisation at the Bulgera and Mercuri deposits continued at depth.

A review of the gold deposits undertaken last year indicated that the widths and grades of intercepts increases at depth.

Partial results from Bulgera were received in mid-February with an intercept of five metres at 15g/t gold from 194 metres returned.

Additional RC holes were planned test along strike and up dip of this hole.

Results have now been received for three outstanding holes with intercepts of 6 metres at 11.8g/t gold from 218 metres and 16 metres at 7.3g/t gold from 194 metres returned.

Unfortunately, one of the holes showed no significant mineralisation and Norwest is undertaking analysis to determine if the hole ended short of the gold mineralised zone.

RC drilling at Mercuri intersected multiple to low moderate grade gold lodes with widths ranging from one to nine metres.

“The continuity of these relatively shallow, wide, high-grade drill intersections demonstrate Bulgera’s significant potential, especially with one of the holes ending in very high-grade mineralisation at only 210 metres,” CEO Charles Schaus said.

“We are very keen to recommence drilling to test for down dip extensions of this gold-rich zone,” he added.

Shares in Norwest are still up a healthy 75 per cent, trading at 14 cents at 10:46 am AEST.

NWM by the numbers
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