Nov 7, 2024

WIN Metals Hits 66m @ 1.89g/t Au at Butchers Creek Gold Project, Western Australia

Introduction:

WIN Metals Ltd (ASX: WIN) has reported significant gold intercepts from its Butchers Creek Gold Project in Western Australia, highlighted by 66m @ 1.89g/t Au from 280m including 17m @ 3.10g/t Au from 311m.

Last Close: $0.026 | Market Cap: $11.13M

Performance: 5d: 0% | 1m: -43% | 6m: -30% | 1y: -84%

Drill Results:

66m @ 1.89g/t Au from 280m (including 17m @ 3.10g/t Au from 311m) (24BCRC002)
10m @ 2.54g/t Au from 368m (including 3m @ 5.70g/t Au from 374m) (24BCRC004)‍
2m @ 1.65g/t Au from 321m (24BCRC003)

Project Overview:

The Butchers Creek Gold Project is located 30km south-east of Halls Creek in the Kimberley region of Western Australia. The project is accessible via the unsealed Duncan Road that connects to Halls Creek and the sealed Great Northern Highway. It covers an area of 340km2 of granted tenure.

The project hosts a current mineral resource of 5.6Mt @ 2.0g/t Au for 357,000oz of gold. Historical production from 1995-1997 totaled 52,000oz of gold from an open pit operation.

Program Details:

A total of 25 drillholes for 7,200m have been completed in the current program. The drilling was designed to increase resource confidence and test for down dip extensions at Butchers Creek and Golden Crown, in addition to reconnaissance drilling at Mt Bradley. Results reported are from the first three completed holes, which intersected the prospective syenite gold bearing horizon.

Understanding These Results:

The 66m @ 1.89g/t Au intercept in hole 24BCRC002 demonstrates a broad high-grade zone of gold mineralization in the hinge zone of the syenite unit.

Hole 24BCRC004, drilled on the southern limit of the current resource, returned 10m @ 2.54g/t Au. This result is significant as it confirms gold mineralization continues at depth beyond where it was previously thought to terminate, indicating potential for resource growth down-plunge.

Management Commentary:

WIN Metals Managing Director and CEO, Mr Steve Norregaard, stated:

“We are only three holes into this program and the magnitude of the resource is confirmed.”

“It’s early days and we expect many more highlights to come after the successful completion of WIN’s first exploration program at Butchers Creek. I look forward to more results confirming the quality of the gold endowment we are dealing with. We have embarked on an exciting new golden era for WIN Metals.”

Next Steps & Catalysts:

Assay results for the remaining drillholes from the 2024 program are expected over the coming months. Two diamond tails from Butchers Creek Far South and one diamond hole at Golden Crown will be processed and evaluated.

The company plans to reprocess all core drilled since 2020 for detailed geological, structural, geotechnical and metallurgical analysis. Validation and remodeling of data at Butchers Creek and Golden Crown will commence to inform new geological and mineral resource models before the 2025 field season.

Commodity Outlook:

Gold continues to be a sought-after safe-haven asset. The Halls Creek region, which saw Western Australia's first gold rush in the 1890s, remains an important gold producing area with established infrastructure and renewed exploration interest.

Conclusion:

The initial results from WIN Metals' drilling program at Butchers Creek are encouraging, confirming broad zones of gold mineralization and potential for resource growth at depth. With a large program completed and numerous assays pending, there is strong news flow in the coming months as the company works to expand and upgrade the existing 357,000oz gold resource.

Sources:

WIN Drill Results Announcement

Additional Figures:

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Nov 7, 2024