Total
0
Shares
Woomera Mining (ASX:WML) -
Source: Woomera Mining
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Woomera Mining (WML) shares dip into the red after the company releases subdued gold grades from drilling efforts at the Mount Venn Project
  • The results are from a maiden reverse circulation drilling campaign at the Three Bears prospect within the Western Australian project
  • Notable intercepts from the drill program include 10 metres at 0.70 grams of gold per tonne (g/t) from 197 metres, including one metre at 5.0 g/t gold
  • Infill and extension drilling is set to follow up the finds once results from a separate aircore drilling effort are in hand
  • Woomera Mining shares closed down eight per cent to trade at 2.3 cents on August 16

Woomera Mining (WML) shares have dipped into the red after the company released subdued gold grades from drilling efforts at the Mount Venn Project in Western Australia.

The explorer is undertaking its maiden reverse circulation drill program at the Three Bears prospect, situated within the project.

According to Woomera, geological interpretations indicate the Three Bears Lodes — Mama, Baby and Papa Bear — are “stacked” and are controlled by thrust fault repeats within a 300 metre wide corridor.

These thrusts are interpreted to have tripled the prospect’s combined prospective strike to 12 kilometres.

Notable intercepts from the drill programme so far returned 10 metres at 0.70 grams of gold per tonne from 197 metres, including one metre at 5.0 g/t gold from 203 metres and 19 metres at 0.40 g/ gold from 93 metres.

Results are still to come from aircore drilling at Papa Bear Lode, which is yet to receive significant intersections according to WML.

Further drilling is set to get under way once the company receives these results, which is anticipated to include infill and extension drilling.

Woomera has an 80 per cent interest in the project, with Cazaly Resources owning the remaining 20 per cent.

Woomera Mining shares closed down eight per cent to trade at 2.3 cents on August 16.

WML by the numbers
More From The Market Herald

" R3D Resources (ASX:R3D) appoints Mathew Hancock as Plant Manager

R3D Resources (R3D) has appointed Mathew Hancock as the Plant Manager of the Tartana Copper Sulphate Plant.
Alicanto Minerals (ASX:AQI) - Managing Director, Peter George

" Historical drilling highlights potential at Alicanto Minerals’ (ASX:AQI) Sala project

Newly released historical drilling results have identified a new zone at Alicanto Minerals’ (AQI) Sala silver project in Sweden.
Andromeda Metals (ASX:ADN) - Managing Director, James Marsh

" Andromeda Metals (ASX:ADN) shares dip on quarterly update

Andromeda Metals’ (ADN) shares have dipped into the red following an update from the company on its activities during the three months to
Grange Resources (ASX:GRR) - Executive Director and CEO, Honglin Zhao

" Grange Resources’ (ASX:GRR) quarterly sales dip as iron ore price tumbles

Grange Resources (GRR) has reported a decrease in quarterly sales revenue on the back of sinking iron ore prices.