Westar Resources Limited (ASX: WSR) (Westar or the Company) is pleased to announce the completion of negotiations to enter an Option Agreement over the Mindoolah Lithium-Gold Project, adjacent to the Weld Range, approximately 70km north-west of Cue, Western Australia. Westar has also executed an agreement for the sale of the Gidgee South Project, located approximately 60km north of the town of Sandstone with Aurumin Ltd (ASX: AUN). The agreement over the Mindoolah tenure and divestment of Gidgee South are aligned to Westar's exploration strategy of exploring for company making assets in areas of known mineralisation.
Westar Managing Director Karl Jupp commented: 'The Mindoolah Project is a very exciting acquisition with our initial review identifying multiple mapped outcrops of pegmatites over several kilometres of strike, with no sampling for LCT mineralisation. This will be the immediate focus for initial exploration activities, and in the background, we will refine the potential priority targets for gold exploration. Separately, the Aurumin Ltd (ASX: AUN) all-script transaction for Gidgee South will give Westar continued exposure to this asset alongside the potential of Aurumin's rapidly developing Sandstone Gold Project'.
Overview of the Mindoolah Project
The Mindoolah Project consists of approximately 100km2 of tenure, located 70km north-west from the town of Cue in Western Australia (Figure 1), within the Murchison Mineral Field of Western Australia. The tenement lies on the south-western end of the Weld Range and contains a sequence of felsic volcanics, several mafic units, BIF and granite, with lenses and dykes of pegmatite, aplite and quartzfeldspar porphyry. Extensive alluvial and open cut gold occurrences occur in the Mindoolah mining centre and many historic workings are scattered throughout the tenements. Historical exploration has largely targeted gold, with a minor base-metal anomalism defined
Pegmatite Hosted LCT
Westar's initial due diligence review of the Mindoolah project noted Cougar Metals 1:10,000 scale geological mapping1 recorded multiple outcropping pegmatites throughout the current western tenement area, Figure 2. No sampling of the pegmatites was completed due to the gold-focused exploration activities and these areas will form the immediate focus for Westar to concentrate field reconnaissance, including rock-chip sampling and assaying for (LCT) potential of the project. A field team is planned to be on site late November, with rock-chip assays expected early Q1 CY23.
Gold Prospects
Significant gold has been produced in the Mindoolah district from both hard-rock (open cut and underground) and eluvial deposits. Historical production of 161kg of gold is recorded at Mindoolah from 7,621 tonnes of ore being treated at an average grade of 21.18g/t Au2 . There are no production figures from the mid-eighties onwards, however the scale of operations is likely to have been significant from the open pits present in the project. The area is regularly prospected with small scale alluvial operators still finding the occasional rich gold-bearing reef or gold nuggets. Recent explorers, including Battle Mountain, Placer Exploration and Podium, identified significant gold anomalous zones through soil geochemistry, however limited follow up drilling has been completed and Westar considers there is significant exploration potential in these less explored and under cover areas.
ABOUT WESTAR RESOURCES
Westar Resources (ASX:WSR) 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. Westar's projects are strategically located in highly prospective parts of some of WA's most prolific goldfields including Sandstone, Mt Magnet, Southern Cross and Nullagine. The Company's strategy is to apply a systematic approach to the assessment and prioritisation of its projects, all of which have the potential to produce material discoveries.
Contact:
Karl Jupp
Managing Director & CEO
T: +61 8 6556 6000
E: kjupp@westar.net.au
COMPETENT PERSON STATEMENT
The information in this announcement that relates to exploration results is based on and fairly represents information compiled by Karl Jupp, a competent person who is a member of the AusIMM. Karl Jupp is employed by Westar Resources Limited. Karl Jupp has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Karl Jupp consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.
WESTAR RESOURCES LIMITED 
