Westar Resources (ASX:WSR) reports it completed negotiations to facilitate the company becoming the 100% owner of the historically operating Fairy Well prospect (E51/2032), which will complete consolidation of the Gidgee North Project in WA.
The company believes the Fairy Well Prospect ‘complements’ Westar’s Gidgee North tenement package and allows for a refined understanding of gold mineralisation throughout the tenements.
Westar says the prospect was mined in the early 1900s with workings extending over a strike length of approximately 200m and recording grades of up to 36g/t Au.
Mineralisation includes ‘high-grade’, southerly 30 degrees plunging shoots which are consistent with the company’s observations within the Gidgee North Project.
Westar believes with no systematic or modern exploration methods applied, 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.
Westar Managing Director Karl Jupp said the company is pleased to have finalised the acquisition of the Fairy Well tenement, which completes the consolidation of the Gidgee North Project tenure.
“Given the historical production … the Fairy Well tenement allows a further understanding of the regional gold mineralised systems, enhancing our target generation ability and providing 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.
“Westar plans to undertake exploration through systematic methods, to test the potential of this area.”
The Fairy Well Prospect which covers an area of 6km-square in between Westar’s granted tenement E53/1920 and tenement application E51/2090, is located 85km southeast of Meekatharra in Western Australia.
MINDEX records historical gold production from 1906 to 1913 from the sites Blue Bell, Hilda No.1, and Hilda No.2, and the line of shafts extends northerly over approximately 200m with mineralisation occurring in weathered greenstones associated with quartz veining and alteration.
The maximum grade was 36.214g/t Au (Blue Bell) and the overall maximum amount of gold produced was 9.092kg (Hilda 1) of contained gold.
WAMEX reports include a number of shallow drillholes within the tenement that demonstrate anomalous gold readings and Westar is currently reviewing these records.
Historic records noted gold was observed in association with quartz veining and sulphides (mainly pyrite) in a north-northeast trending shear which is consistent with other prospects in the region.
The company is planning to undertake a detailed review of the available documentation, along with its internal databases to plan future exploration.
Westar Resources is a Perth-based mineral exploration company focused on creating value for shareholders through the development of high-quality gold and base metal assets in Western Australia.
The company’s assets include Gidgee North and South, the Winjangoo Project, the Mt Finnerty Project, the Parker Dome Project and the Opaline Well Project.