Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
Western Mines Group Ltd (ASX: WMG) has been awarded AU$440,000 under the WA Government’s Exploration Incentive Scheme to fund additional drilling at its flagship Mulga Tank Ni-Cu-PGE Project. The Company secured two maximum grants of AU$220,000 each, covering 50% of direct drilling costs for an upcoming deep diamond hole into the main body of the Mulga Tank Complex and two diamond holes targeting a 1.3km-long komatiite channel system within tenement E39/2134.
The deep hole will focus on the eastern portion of the MobileMT anomaly, near high-grade geochemical results from hole MTD027, potentially representing a sulfide-rich keel or feeder vent. Meanwhile, the two additional holes aim to explore the newly confirmed fertile komatiite channel system north of the main complex. These drilling activities build on last year’s successful EIS-supported programs, enhancing the Company’s understanding of the large-scale mineral system at Mulga Tank.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.