Western Mines Group Ltd. announced completion of diamond drill hole MTD023, at the Mulga Tank Ni-Cu-PGE Project, on the Minigwal Greenstone Belt, in Western Australia's Eastern Goldfields. Hole MTD023 (EIS1) was designed to test the centre of the Mulga Tank Ultramafic Complex, drilling the inferred deepest part, in order to capture and characterise a complete cross-section of the intrusion. This is the first of two deep co-funded EIS holes to be drilled with the aid of WMG's EIS award (ASX, WMG Wins $220,000 EIS Award to Drill Mulga Tank, 17 October 2022).

MTD023 intersected a cumulative ~1,200m thickness of high MgO adcumulate dunite ultramafic across two sequences each >500m. These intervals possibly represent at least two major magmatic events. Both of these sequences were seen to be mineralised, with >600m containing disseminated magmatic sulphides (trace to 2%) that in a number of places coalesced into interstitial blebs (3 to 5% sulphide) and even approaching net textured (~10% sulphide).

At the base of the hole multiple intersections of remobilised massive nickel sulphide veinlets were observed. The hole validates WMG's geological model for the Mulga Tank Ultramafic Complex and most significantly it shows clear evidence for a very extensive magmatic nickel sulphide mineral system, with large volumes of mineralised ultramafic magma within the Mulga Tank Complex. This result has very positive implications for the prospectivity of the project and confidence in ongoing exploration targeting.

Mulga Tank Phase 2 Diamond Drilling Program: WMG is currently undertaking a six-hole diamond drilling program, totalling 4,000-5,000m, to test a number of follow-up targets based on the results of the Company's first drilling program and ongoing exploration targeting work. The targets and drill holes selected are based on a combination of geophysical modelling of recent DownHole Electromagnetic (DHEM) results and previous Moving Loop Electromagnetic (MLEM) results along with geological interpretation of the complex and geochemical vectoring work. The program includes two deep co-funded EIS holes to be drilled with the aid of WMG's EIS award.

HOLE MTD023: Hole MTD023 (planned hole EIS1) is the second hole of the Phase 2 program and was designed to test the centre of the Mulga Tank Complex, drilling the inferred deepest part, in order to capture and characterise a complete cross-section of the intrusion. This is the first of the two deep co-funded EIS holes. The hole was drilled to a total depth of 1,401.3m and intersected ~1,200m of variably serpentinised and talc- carbonate altered high MgO adcumulate to extreme adcumulate dunite ultramafic (56.5-1,299m), beneath 56.5m of sand cover (0-56.5m), before encountering a footwall of predominantly basalt and minor shales at 1,299m depth.

The dunite intersection was divided by an approximately ~44m thick basalt/dolerite unit (742.5-786.5m) that may represent a later dyke/sill, a xenolith or a horizon between two major magma emplacements. Disseminated magmatic sulphides (trace to 2%) were observed down the majority of the hole for ~623m, starting from around 156m depth. In a number of places the disseminated sulphides coalesced into interstitial blebs (3 to 5% sulphide) between former olivine crystals and also approached net textured (~10% sulphide).

Both of the adcumulate dunite units were mineralised with the lower unit showing some of the richest sulphide intersections seen to date across the project. At the base of the hole multiple intersections of remobilised massive nickel sulphide veinlets were observed. Similar disseminated sulphide mineralisation was observed in Phase 1 hole MTD020 and Phase 2 hole MTD022; recent mineralogical investigation work by the Company has shown the sulphide component of those holes to be dominated by relatively coarse pentlandite blebs.