Dynamic Metals Ltd (ASX:DYM) continues to systematically evaluate and prioritise gold exploration targets across its portfolio of assets in Western Australia in preparation for drilling in early 2025.
Gold exploration activities are now underway at the company’s Widgiemooltha Project, where DYM has identified a priority gold target for immediate exploration at the project’s Cognac West prospect.
Here, two strong gold soil anomalies have been defined by recent soil sampling, while field mapping and rock chip sampling is progressing, with a reverse circulation (RC) drill program to be refined with inputs from field observations.
Also underway is 3D modelling of the Chalice South prospect using historic drill data and surface geochemical datasets.
Dynamic Metals managing director Karen Wellman said: “I am excited to share our latest advancements in gold exploration at the Widgiemooltha Project.
“Our systematic approach has identified promising gold targets at Cognac West and Chalice South, where we are leveraging both historical data and new soil sampling results. The strategic location of our tenements adjacent to major gold producers highlights the potential for significant discoveries.
“With the continued integration of high-quality geological data, we are laying a solid foundation for future exploration and look forward to initiating drilling activities in early 2025.”
The company makes note that it is well funded for exploration after receiving $4 million from mineral resources as part of the Widgiemooltha lithium joint venture.
Cognac West prospect
Dynamic has initiated a new phase of exploration at the Cognac West prospect, which has seen historical surface-level exploration efforts dating back to the 1970s.
Previous efforts included soil sampling and shallow drilling, though these data sets were often incomplete and focused solely on gold assays. A key result from the 1990s included an impressive gold assay of 1 metre at 91.3 grams per tonne (g/t) from 41 metres.
In response to the limited scope of previous work, Dynamic has implemented a systematic approach to gather new, high-confidence data.
The company recently completed a soil sampling program across an area around 3 kilometres long and 2 kilometres wide. Samples were collected every 50 metres along 200-metre spaced east-west lines, focusing on an area of structural complexity near a late felsic intrusion, 500 metres west of the Republican Thrust.
A total of 704 soil samples were collected and analysed for gold and a suite of multielements. Early results indicate two areas of anomalism exceeding 0.025 parts per million (ppm) gold. Dynamic has already extended the sampling lines to the east and expanded geological mapping and rock chip sampling in the region. Assay results from these recent efforts are expected early next month.
Chalice South
The local geology at Chalice South is defined by north-north-west trending, westward-dipping mafic and volcanic rock units, bordered by the Pioneer Dome to the east. This area has undergone multiple stages of surface geochemical analysis and both shallow and deep drilling activities since the Chalice gold deposit was first discovered.
Dynamic's exploration licence, 15/1721, covers a 14-kilometre stretch of greenstone geology. Importantly, this licence falls within the same structural corridor that hosts the renowned Chalice gold deposit.
Historically, the Chalice open pit, mined by Resolute Limited in the late 1990s, produced 2.9 million tonnes at an average grade of 5.6 g/t, resulting in 517,000 ounces of gold.
Additionally, a small underground mining operation by Avoca Resources Limited (ASX:AVO) yielded 993 tonnes at 3.91 g/t, before the mine was placed on care and maintenance in 2015.
Dynamic Metals’ current exploration strategy for Chalice South includes an in-depth analysis of the complex geological structures. This will aim to pinpoint new target areas for further surface geochemistry studies or drill testing, with the ultimate goal of discovering and advancing new gold resources in this highly prospective region.
Read more on Proactive Investors AU
