Latest news with #Widgiemooltha
West Australian
04-08-2025
- Business
- West Australian
Dynamic and MinRes tweak WA lithium joint venture deal
ASX-listed Dynamic Metals has sealed a revamped lithium joint venture with mining heavyweight Mineral Resources at their Western Australian Widgiemooltha project in the Southern Goldfields by tweaking the key terms to extend their partnership and streamline their tenements. The updated formal agreement expands on the original binding term sheet inked in March last year and provides for a sharpened focus on the duo's lithium hotspots. Under the original deal, MinRes can earn up to 80 per cent of the lithium rights attached to Dynamic's fully owned leases over two stages for a total spend of $20 million. The latest changes mean MinRes has an extra two years added to the stage two earn-in period - stretching it to six years in total - and gives the miner more runway to spend its way to a deeper stake in the prized lithium ground. Dynamic has also received the final $1 million of a $3.6 million cash injection from MinRes for stage one, locking in the latter's initial 40 per cent interest in the lithium mineral rights across the joint venture ground. The revised earn-in commitment for stage two has also been dialled back from $15 million to $14 million. Dynamic still sees this as a sizeable investment, underpinning MinRes' ongoing belief in the potential of the Widgiemooltha region to deliver another significant lithium discovery. Notably, the updated structure isn't just a paper reshuffle - it sharpens the lithium focus. Sixteen tenements have been carved out of the joint venture and returned to full Dynamic control, allowing the partners to zoom in on land parcels showing the most promise. The new deal frees up Dynamic to keep its eyes on the gold prize in the remainder of its expansive Widgiemooltha holdings, where it retains full ownership. That ground sits among some of WA's most fertile exploration real estate, just south of Kambalda and adjacent to several million-ounce gold systems. The company has no less than 12 major gold prospects and at least 10 further targets showing decent sniffs of the yellow metal in the region. Management says the number of prospects is likely to grow as more exploration is conducted. Dynamic recently announced it had received heritage clearance to move ahead with drilling on one of its hottest prospects, Chalice South, about 7 kilometres south of Westgold Resources' Chalice gold mine. The licence takes in 14km of the same gold-rich greenstone corridor that's already churned out more than half a million ounces of gold. The historic Chalice mine, originally worked by Resolute Limited in the 1990s, yielded 2.9 million tonnes at a juicy 5.6 grams per tonne (g/t) for 517,000 ounces. Avoca Resources later took a bite with a boutique underground play before the site was mothballed in 2015. Most recently, Dynamic's rig has also been probing its Anomaly A and Anomaly B targets at the company's Cognac West prospect, 40km to the northeast of Chalice. The 19-hole phase two drilling program was designed to chase up on a stage one, 32-hole reverse circulation program in March, which hauled in some tantalising results. These included 32 metres grading 0.25g/t gold from 68m, 8m going at 0.36g/t gold and 16m at 0.29g/t gold from 84m. In one particular hole, drilling peeled back even more layers, returning four separate gold-bearing zones ranging from 32m going at 0.25g/t from 32m, 12m grading 0.28g/t from 76m, 12m at 0.32g/t from 92m and 12m running at 0.28g/t from 112m. While the grades aren't breaking records just yet, the widths are raising eyebrows. In particular, Dynamic is keeping a close eye on some notable copper hits suggesting a much larger mineralised system may be lurking beneath the surface. With the lithium joint venture now locked in and restructured to reflect operational realities, MinRes and Dynamic appear ready to drill deeper into what could become WA's next big critical minerals success story. And with the first-year technical reviews already complete and the highest priority ground now isolated, the stage is set for targeted, high-impact lithium exploration in the months ahead. Both parties will be hoping the next round of drill bits strikes the kind of spodumene-rich pegmatites that have put WA at the epicentre of the global battery metals boom. Is your ASX-listed company doing something interesting? Contact:
West Australian
23-07-2025
- Business
- West Australian
Dynamic eyes new polymetallic structure in WA Goldfields
Dynamic Metals has picked up promising signs of what could be a robust copper and gold system rich in sulphides from a phase two drilling program of the Anomaly A and Anomaly B targets at its Cognac West prospect. Cognac West makes up part of the company's broader Widgiemooltha project in WA's southeast Goldfields and management says the drill bit might be scratching the surface of a much larger mineralised beast. The 19-hole phase two drilling campaign was designed to chase up on March's 32-hole reverse circulation program, which produced some highly encouraging results, particularly at Anomaly B. These included 32 metres grading 0.25 grams per tonne (g/t) gold from 68m, 8m going at 0.36g/t gold and 16m at 0.29g/t gold from 84m. At another hole, four distinct zones of mineralisation were intercepted ranging from 32m going at 0.25g/t from 32m, 12m grading 0.28 g/t from 76m, 12m at 0.32g/t from 92m and 12m running at 0.28g/t from 112m. The company says that multiple broad zones of lower-grade gold mineralisation hint at a larger system that may be in play. About 600m north of the broad low-grade zones at Anomaly B, Dynamic drilled a scissor hole to chase down an earlier standout hit of 4m at a sizzling 5.04g/t gold within 8m at 2.78g/t from 60m in fresh rock. The follow-up didn't disappoint, delivering a solid 4m going 1.66g/t from 56m. While chasing gold at Anomaly B, Dynamic also hit paydirt with further copper hits. Several holes picked up anomalous copper zones, including 6m running at 0.22 per cent copper from 114m and 12m grading 0.15 per cent copper from 104m. This built on previous hits such as 5m grading 0.44 per cent copper, including a tasty 1m section going 1.06 per cent copper. Although the copper and gold appear to be unrelated, the results still got tongues wagging, particularly given copper shows up in both the supergene and fresh rock zones. Chalcopyrite and cobaltite, which are key sulphide minerals, were picked up in one hole at 62m depth. Coupled with an intriguing structural and lithological complexity, the tea leaves point to sulphide-rich mineralisation and the potential for a broader polymetallic system or even a multiphase hydrothermal system. Micro-XRF mapping has helped identify mineral zoning, suggesting multiple stacked mineralisation events. A late-time conductive feature, seen in airborne electromagnetic surveys, is being reprocessed to better understand what might be fuelling the mineralisation below. At Anomaly A - one kilometre east of Anomaly B - drill testing has been completed beneath a surface gold-bearing quartz vein, which threw up some spectacular rock chips, including 2040g/t, 53.1g/t and 8.95g/t gold. Anomaly A's drill results were a mixed bag and did not replicate the rock chip highs but still pulled up 4m running at 0.15g/t gold from 28m and 4m at 0.12g/t gold from 40m, offering a thread for the company to follow up. Dynamic has an aggressive exploration program in motion. Reverse circulation drilling is already scheduled for its nearby Chalice South prospect and first-pass assays are pending from the Courvoisier gold target, 4.5km away. Dynamic is sitting pretty on $3 million in the bank at the end of June and has since received a further $1 million from Mineral Resources as a deferred transaction payment, leaving it well funded to further explore its grounds. If the next round of drilling confirms what this round is hinting at - a significant, polymetallic mineralised system - then the $13 million market cap junior explorer could quickly move from potential to discovery. Is your ASX-listed company doing something interesting? Contact:
West Australian
06-05-2025
- Business
- West Australian
Dynamic identifies new high-grade gold zone at Goldfields project
Dynamic Metals has identified a new gold zone from its recent phase one drilling blitz at the company's Anomaly B target in its Cognac West prospect, which is part of its Widgiemooltha project between Norseman and Kambalda. Dynamic put 32 reverse circulation holes, each to 150 metres depth, for 4800m of drilling into its Anomaly A and Anomaly B targets at Cognac West, as part of an ongoing 75-hole program. Encouraging initial results from 4m composite samples include 8m assaying 2.87 grams per tonne (g/t) gold, with 4m going 5.37g/t gold from 60m, 44m at 0.33g/t gold, including 4m at 1.21g/t gold from 36m, and 24m running 0.33g/t gold from 48m. The 32-hole program, completed in March, represents the first round of drilling, which will continue over several campaigns. Dynamic has started by analysing 4m composite samples to see initial results returned as soon as possible. The company intends to resample 4m zones of interest, above 0.01g/t gold, at 1m intervals. Dynamic says while lithological logging indicates different geology from previous interpretations, initial results from the program are encouraging. At Anomaly B, a long, low-grade intercept in the volcaniclastic unit reported 44m assaying 0.33g/t gold from 36m, including 4m at 1.21g/t gold from 60m. The results are mainly from fresh rock and Dynamic believes they could represent the margin of a more strongly mineralised gold system. In another hole on a section 570m northwest of this low-grade run, a narrower higher-grade zone was identified in 8m of fresh rock assaying 2.87g/t, including 4m at 5.37g/t gold from 60m. A second hole on the same section picked up two low grade intercepts in the weathered zone of 2m each, assaying 4m at 0.24g/t gold from 12m and 0.52g/t gold from 44m respectively. A third hole nailed 8m at 0.11g/t gold from 68m, 4m at 0.25g/t gold from 120m and 8m going 0.14g/t gold from 132m. The results from this three-hole section highlight the effectiveness of the company's deep scout drilling strategy to probe beneath the base of oxidation, where a pair of 50m historic holes between two of Dynamic's holes failed to produce results. At Anomaly A, a main quartz vein mapped at surface was intercepted in a weathering profile in the phase one drilling work and not in the intended fresh rock target. The target will be revisited in a following phase two program to test for gold west of the phase one work to see if the initial results represent the margin of a more significant zone of gold mineralisation. Dynamic's latest drilling program follows up the results of extensive soil sampling on 50m sample by 200m line spacings, which produced areas of cohesive low-level gold anomalism above 25 parts per billion (ppb) or more than 0.025g/t gold. Follow up infill soil sampling identified several higher-grade zones within the original anomalies of better than 100ppb or more than 0.1g/t gold. The company also undertook geological rock sampling and mapping, with results including 2040g/t, 53.1g/t and 8.95g/t gold, which support the potential for gold mineralisation in the anomalous areas. The latest results and results to come from subsequent 1m re-sample analyses of encouraging 4m composites – those above 0.1g/t gold - will complement the current database and will inform the design of the proposed phase two follow-up drilling program to focus on two areas in each of the two main anomaly areas. Is your ASX-listed company doing something interesting? Contact:
