Ida Holmes Junction

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Ida Holmes Junction

Overview

The Ida Holmes Junction Project is a continuous landholding comprising two granted exploration licences (E36/1010 and E36/1011) covering a combined area of 118km2 and exploration licence application E36/1025. The Ida Holmes Junction Project is located approximately 840km northeast of Perth, 120km northwest of Leonora and 40km southwest of the town of Leinster in the Gascoyne Region of Western Australia.

There are numerous gold and nickel mines in the surrounding district including the New Holland, Waroonga, Lawlers, Redeemer, Bounty, Deliverer, Cox-Crusader, Vivien, Turrent and McCaffer gold mines as well as the Yakabindie, Leinster and Perseverance nickel sulphide mines.

The Ida Holmes Junction Project is interpreted to lie along the trend of the Ida fault, an early steep structure marking the boundary between the Eastern Goldfields Superterrane in the east from the Youanmi Terrane in the west. Previous drilling has confirmed the presence of ultramafic rocks with moderate MgO levels. While no nickel sulphides have been encountered to date, the presence of ultramafic rocks offers potential for Mount Alexander style nickel-copper or komatiitic nickel sulphide deposits.

Exploration History

Previous exploration over the project area targeted granite hosted gold and nickel sulphide mineralisation within deformed migmatised ultramafic belts within granite terrain. Work included heritage surveys, exploration planning and interpretation, geological mapping, surface geochemical sampling (soils), surface geophysical surveying (including fixed loop and moving loop EM), aircore and RC drilling. Results were encouraging with 20 holes intersecting moderate to high MgO ultramafic in bedrock with elevated nickel (maximum 1.29% Ni) in the regolith. These ultramafic units were delineated over a 5km strike length adjacent to the Ida Fault. As this area was previously interpreted as granite, the discovery of prospective ultramafic units was a significant exploration milestone. Drilling by St George Mining confirmed a greenstone sequence, with further drilling and surface geophysical surveying recommended to assess the potential for nickel sulphide mineralisation and, given the proximity and geological relationships to historical gold production at the Idea Valley area, also for gold.

Exploration Potential

Western Yilgarn views the Ida Holmes Junction Project as prospective for Mount Alexander style mafic hosted nickel-copper mineralisation and shear-hosted gold mineralisation similar to that of the nearby Agnew gold mining centre. To test this concept, Western Yilgarn intends to assess and develop an exploration model relating to the south-southwest regional splay structures associated with the Waroonga Shear Zone as well as to further assess the newly outlined greenstone sequences as encountered by previous tenement holders. The potential for medium-high MgO ultramafic requires further assessment, particularly given its proximity to regionally significant structures which are known to host significant gold and nickel mines at Agnew and Yakabindie respectively.
As part of its exploration strategy for the project area, Western Yilgarn plans to test for nickel and gold occurrences by undertaking a compilation of available technical data, a structure geology review, surface geochemical sampling, geophysical surveying and air core drilling under cover targeting the shear zone.

THE COMPANY

The Company’s new management team recently executed a strategic restructure which included the divestment of international subsidiary projects and acquisition of new, highly prospective land holdings located in some of Australia’s emerging Nickel- PGE-Gold regions.

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PROJECTS

The Julimar West project covers a total area of 349km2 within the Darling Ranges located approximately 75km northeast of Perth, Western Australia and PGE Projects (comprising the Mount Magnet, Sylvania, Bulga and Melbourne Projects) are primarily located in the Eastern Goldfields and Pilbara regions of Western Australia.

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INVESTORS

WYX is dedicated to pursuing early-stage exploration opportunities with a diversified portfolio of highly prospective assets have been strategically selected for their potential for growth and ability to deliver value for shareholders. A unique investment exposure to one of the most globally significant Nickel-PGE deposits in the last 20 years.

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WYX

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