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Shares in Riversgold (ASX:RGL) slide following underwhelming Q2 update
  • Westar Resources (WSR) has announced 12 new target areas at its Coolaloo Gold Project in WA
  • Last year, Southern Geoscience Consultants reviewed data from survey work undertaken in October 2019
  • Pleasingly, the review identified 12 targets — four of which have been labelled high-priority
  • The company will now evaluate the targets further along with historical data to be used for a drilling program later this year
  • Westar ended the day down 1.96 per cent at 25 cents per share at market close

Westar Resources (WSR) has announced new targets have been identified at the Coolaloo Gold Project in Western Australia.

In November 2020, Southern Geoscience Consultants (SGC) reviewed data from an aeromagnetic and radiometric survey undertaken at the project in October 2019.

Pleasingly, SGC identified 12 target areas — four of which are considered high-priority.

In addition, the study gave a broader understanding of the structural patterns and potential controls of mineralisation at the Coolaloo project.

"The results of the SGC review and the recently recognised potential for sheared granite mineralisation highlights the strong prospectivity of the Coolaloo geology and refining the exploration targets," Managing Director Karl Jupp said.

Westar will now evaluate and prioritise all current targets along with other datasets, including historical geochemical data, ahead of drilling which is planned for later this year.

Before the aircore drilling can go ahead, Westar has already submitted a spatial program of works to the Department of Mines, Industry Regulation and Safety.

The company will also conduct a reconnaissance program at the new targets but further details on this will be reported as they are decided.

Westar ended the day trading down 1.96 per cent at 25 cents at market close.


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