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Drills fire up at WA1 Resources’ West Arunta sniffing out copper, gold and rare earths

Wed 13 Jul 22, 10:20am (AEST)
Exploring - Core Drilling for Exploration
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Key Points

  • RC drills to test for ‘iron oxide copper gold (IOCG) style’ copper-gold and rare earths deposits
  • Six holes across three key prospect targets in maiden drill run
  • WA1 listed on the ASX in February and currently boasts over $3.5m cash in hand

WA1 Resources (ASX:WA1) is firing up an RC rig at Pachpadara, a target within the larger West Arunta project, on the hunt for copper, gold, and rare earths.

Targets found in earlier geophysical works now inform the six hole program, itself the company’s maiden drill run at Arunta.

Visualising distance between the company's two key prospects

Pachpadara and Luni 

Within Pachpadra are two targets: P1 and P2. Both targets will receive two RC drill holes. 

Drilling at both will give geos a chance to test the peak and bottom of each anomaly present underground detected in magnetic imaging. 

The company expects each drill run to max out at 400m, based on current interpretations of geophysical data.

The same will be done for an eastward target called ‘Luni,’ which too will receive two RC drillholes on-site, figuring out the same things.

The company intends to report assay results for all upon receipt of all data for all six assets. It expects drilling to take three weeks, complete early August. 

Rock chip samples provide ideas

Earlier rock chip sample collection across Arunta provided evidence of rare earth mineralisation in Pachpadra’s P1 target. 

At that same location, evidence of copper and nickel was found in five samples taken from nearby accessible ironstone on-site. 

No magnetic anomaly data was produced at the site of the rock chip sampling, and further exploration will be conducted by the company in the weeks and months ahead. 

WA1's three month charts reflect some turbulence during sell-off season. Volume information underlying: but remember the company only listed back in February
WA1 was a Market Index client at the time of publishing. All coverage contains factual information only and should not be interpreted as opinion of financial advice.

 

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Written By

Jonathon Davidson

Finance Writer

Jonathon is a journalism graduate and avid market watcher with exposure to governance, NGO and mining environments. He was most recently hired as an oil and gas specialist for a trade publication. Email Jon at [email protected].

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