Western Mines (ASX:WMG) launches its first diamond drilling program at Mulga Tank – The Market Herald

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  • Western Mines (WMG) begins its first diamond drilling program at the flagship Mulga Tank project in Western Australia’s eastern goldfields
  • A total of 10 diamond holes will be drilled on several targets identified in previous programs
  • Drilling is expected to take around three months, with each hole taking between eight and 15 days to drill, depending on depth.
  • Based on initial portable X-ray fluorescence results and downhole electromagnetic results, additional follow-up holes will be planned
  • Western Mines shares fall 1.72%, trading at 28.5 cents per share

Western Mines (WMG) has started its first diamond drilling program on the flagship Mulga Tank project in the eastern goldfields of Western Australia.

A total of 10 diamond holes, for 4050 meters, will be drilled on several targets identified during previous programs.

These targets were identified through a combination of geophysical modeling of recent Mobile Electromagnetic Loop (MLEM) results as well as interpretation of the intrusion and geochemical vectoring work.

Drilling began this morning and is expected to take around three months, with each hole taking between eight and 15 days to drill, depending on depth.

Based on the initial results from portable X-ray fluorescence (pXRF) and background electromagnetic (DHEM), additional follow-up holes will be planned.

“Drilling has now begun at Mulga Tank and WMG has entered what will hopefully be an exciting three to four month period for the business,” commented Managing Director Caedmon Marriott.

“Each hole will take between eight and fifteen days, depending on the depth, and we will update shareholders on the flow of important news as the program progresses.”

“The Company is also pleased to have completed the due diligence stage for the sale of the Pavarotti Project iron ore rights to the Mineral Resources. Cash proceeds of $200,000 are expected to be received this week and these funds will be used to expand the Mulga Reservoir drilling program.

Shares of Western Mines fell 1.72%, trading at 28.5 cents per share as of 10:33 a.m. AEST.

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