Mt Jewell (WSA retained 20% interest with Magma Metals)

The Mt Jewell project is located 65km north of Kalgoorlie and 20km along strike to the northwest of the Silver Swan and Black Swan nickel deposits (approximately 185,000t nickel – production and resources) and contains a 20km strike length of a highly prospective komatiite sequence. Three main prospects were identified during historic exploration – Ringlock, GSP and Mt Jewell.

A nickel sulphide Inferred Mineral Resource of 86,000t at 2% nickel has been defined by previous explorers at the GSP prospect. Potential exists for discovery of down-plunge extensions and remobilized sulphide bodies associated with the GSP resource. The short strike length of the deposit is analogous to the upper levels of the high-grade Silver Swan deposit. A review of exploration data indicates that the mineralisation may be open at depth providing considerable potential for down-plunge additions to the resource.

Regionally, further exploration opportunities have been identified. Geophysical surveys within the Project area returned several geophysical anomalies which were tested, some with associated nickel mineralisation, but many anomalies were not tested, generally because they were interpreted to reflect features other than nickel mineralization. In addition other areas of the eastern and a western komatiites sequence have been identified where there has been little exploration.