Westar Resources Ltd (ASX:WSR) has completed its consolidation of the Gidgee North Gold Project in Western Australia’s Mid-West with the acquisition of the historically operating Fairy Well Prospect.
Fairy Well includes historical workings with recorded production between 1906 and 1913 with grades up to 36 g/t gold.
Historical RAB drilling has also confirmed high-grade mineralisation at the prospect.
Consolidation completed
Westar managing director Karl Jupp said: “Westar is pleased to have finalised the acquisition of the Fairy Well tenement which completes the consolidation of the Gidgee North Project tenure.”
Fairy Well complements Westar’s Gidgee North tenement package and allows for a refined understanding of the gold mineralisation throughout the tenements.
The prospect, which is around 85 kilometres southeast of Meekatharra, was mined in the early 21st century with workings extending over a strike length of about 200 metres.
Immediate drill targets
"Given the historical production and information sources, the Fairy Well tenement allows a further understanding of the regional gold mineralised systems, enhancing our target generation ability and providing immediate drill targets,” Jupp said.
"Westar plans to undertake exploration through systematic methods, to test the potential of this area.”
Mineralisation includes high-grade, southerly 30-degree plunging shoots which are consistent with Westar’s’ observations within the Gidgee North Project.
With no systematic or modern exploration methods applied, Westar is of the opinion the tenement provides walk-up drill targets, along with gaining a broader regional understanding of mineralisation controls that can be extended for target generation over the greater tenement package.
Fairy Well comprises one exploration licence, E51/2303, of about 6 square kilometres and is in between Westar’s granted tenement E53/1920 and tenement application E51/2090.
Historical production
MINDEX records historical gold production from 1906 to 1913 from three sites - Blue Bell, Hilda No 1 and Hilda No 2.
The line of shafts extends northerly over around 200 metres, with mineralisation occurring in weathered greenstones associated with quartz veining and alteration.
Maximum gold grade was 36.214 g/t at Blue Bell and the overall maximum amount of gold produced was 9.092 kilograms from Hilda 1.
WAMEX reports include a number of shallow drill holes within the tenement that demonstrate anomalous gold readings and the company is reviewing these records. As such, the information is considered historical in nature and not reported in this release.
Historical records noted gold was primarily observed in association with quartz veining and sulphides (mainly pyrite) in a NNE trending shear consistent with other prospects in the region.
Review of documents
Westar plans to undertake a detailed review of the available documentation, along with its internal databases to plan future exploration.
As consideration for 100% ownership of the Fairy Wells tenement, Westar agreed to issues 625,000 fully paid ordinary shares to the vendors Mining Equities Pty Ltd.
These shares will be issued pursuant to the company’s available capacity under Listing Rule 7.1.