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Western Areas (ASX:WSA) - CEO, Dan Lougher - The Market Herald
CEO, Dan Lougher
Source: CEO Magazine
  • Western Areas (WSA) has received highly encouraging results from the Sahara prospect within the Western Gawler Project in South Australia
  • The first diamond hole at Sahara has intersected over 200 metres of nickel and copper sulphides
  • Pleasingly, an average of two to five per cent sulphide content has been reported across the entire intrusive body
  • This drill hole marks the first hole completed by Western Areas as part of the farm-in and joint venture with Iluka Resources (ILU)
  • A number of interpreted mafic intrusive bodies remain to be tested
  • Company shares are up a healthy 16.9 per cent and are trading for $2.70 each

Western Areas (WSA) has received highly encouraging results from the first diamond hole at the Sahara prospect within the Western Gawler Project.

Western Gawler lies within the Fowler Domain orogenic belt of western South Australia. The Fowler Domain is known to host mafic and ultramafic intrusive rocks and is overlain by the recent sedimentary cover of the Eucla Basin.

The Sahara prospect lies within the farm-in and joint venture with Iluka Resources (ILU), which allows Western Areas to earn up to 75 per cent in the Sahara prospect.

Sahara comprises five tenements and is located in the northern part of the Fowler Domain.

The joint venture partners conducted an extensive target generation program last year to define several priority targets for diamond drilling.

The first diamond hole at Sahara has intersected of 200 metres of nickel and copper-bearing sulphides hosted by a thick pyroxenite intrusive body.

Importantly, sulphide concentrations increased at depth.

At 88.3 to 105 metres, between one and two per cent disseminated sulphide was intersected. Within the 109 and 139 metre depth, two per cent disseminated sulphides were intersected throughout. At 141 to 195 metres, the company intersected three to seven per cent disseminated sulphides.

Finally, between five and 15 per cent of disseminated and matrix sulphides were intersected at a 195-to-205-metre depth.

"This is an excellent result from our first drill hole at the Sahara prospect, intercepting broad widths of nickel and copper-bearing mineralisation," Managing Director Dan Lougher said.

"We keenly await the assay results but it is already clear from what we have seen in the drill core, that we have a significant exploration result that merits immediate follow-up work," Dan said confidently.

Western Areas is still drilling the first hole and the immediate aim is to test the western contact of this intrusive body.

The company has planned a follow-up hole to test the Sahara conductor 50 to 75 metres down dip from the current hole. It is hoped the second hole will unveil elevated sulphide concentrations within the interpreted conductor.

Western Areas is so encouraged by these sulphide intersections that it has applied for an additional three exploration licences covering the northern extension of the Fowler Domain.

Company shares are up a healthy 16.9 per cent and are trading for $2.70 each at 12:30 pm AEST.


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