Western Areas NL

Published : September 29th, 2015

Western Areas to Commence Drilling at Fowlers Bay Nickel JV

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Western Areas to Commence Drilling at Fowlers Bay Nickel JV

Microsoft Word - Fowlers Bay Exploration Update 29 Sept 2015 FINAL edits 11pm


WESTERN AREAS TO COMMENCE DRILLING AT FOWLERS BAY NICKEL JOINT VENTURE



Highlights

  • Reverse Circulation drill programme set to commence in next few weeks as part of major regional exploration push;

  • A series of priority geophysical and geological targets across Strandline's JV ground (Fowlers Bay Project) to be tested;

  • 'First mover' play in a Belt identified as having geological affinity to the Albany‐Fraser Belt;

  • Prospective for large multi‐commodity deposits including nickel‐copper‐PGE's (e.g. Nova/Bollinger);

  • Recently completed drilling by Western Areas on adjacent ground reinforcing the prospectivity for nickel and copper sulphide mineralisation along the Belt;

  • Tenure over prospective Belt now tightly held; and

  • Under the JV, Strandline is free carried for up to $1.2M of expenditure.

Company Facts

Strandline Resources (ASX: STA) ‐ Exposure to emerging country‐wide exploration play in Tanzania, within one of the world's major mineral sands producing corridor and major 'construction ready' Coburn Heavy Mineral Sands Project in Western Australia


Key projects:

  • Tanzanian Heavy Mineral Sands Exploration Projects (100%)

  • Coburn Heavy Mineral Sands Project, WA (100%)

  • Mt Gunson Copper Exploration Project, SA (100%)

  • Mt Gunson MG14/Windabout Copper‐ Cobalt‐Silver Development Project, SA (100%)

  • Fowlers Bay Nickel Project, SA (100%) - Western Areas Earning In

Corporate Structure

Shares on issue 628.5m

Unlisted Options 12.5m Performance Rights 19.2m

Company Directors

Michael Folwell

Non‐Executive Chairman

Richard Hill

Managing Director

Didier Murcia Non‐Executive Director Asimwe Kabunga Non‐Executive Director

Investor Enquiries

Andrew Rowell Cannings Purple E: [email protected] T: + 61 8 6314 6300


Strandline Resources Limited ('Strandline') is pleased to announce that drilling of a series of nickel and copper targets at its 700km2 Fowlers Bay Project (Figure 1) by joint venture partner, Western Areas Limited (ASX: WSA)('Western Areas') is set to commence in the next few weeks. This

will follow on from a successful 65 drill hole (5,789m) programme recently completed on neighbouring ground immediately to the north and will continue through the December Quarter.


Commenting on the programme, Strandline's Managing Director, Richard Hill, said, 'This major drilling campaign is another exciting step in our partnership with Western Areas to target the previously untested Western Gawler belt of mafic‐ultramafic intrusives. This is particularly exciting given their recent drilling to the north, which is reinforcing the view that these rocks are prospective for nickel and copper sulphide mineralisation.


'Interestingly, the tenement position of the prospective West Gawler Belt is now tightly held by active, well‐funded explorers with Iluka Resources also actively drilling base metal and gold targets in the northern portion of the Belt.


www.strandline.com.au 1


This reverse circulation (RC) drill programme follows up a detailed magnetic survey completed over the Project area by Western Areas earlier this year (Figure 2; see WSA March Quarterly, 15 April 2015). Interpretation of the magnetic data, combined with a detailed review of the historical core and previous exploration activity has revealed numerous features that are indicative of mafic/ultramafic intrusions, many of which are clustered in potential 'camps'. These features have been ranked and prioritised based on a number of key criteria and will be tested in the upcoming drilling program.


As announced by Western Areas today, the drilling on Strandline's joint venture ground will follow on from a recently completed 65 hole (5,789m) RC drilling programme designed to test prospective mafic‐ultramafic intrusive targets along the Belt to the immediate north (See WSA announcement dated 29 September 2015). Initial positive indications of potential for nickel and copper sulphide mineralisation is strong encouragement for the potential of targets on the Strandline ground.


In today's announcement by Western Areas, their Managing Director, Mr Dan Lougher commented that while it is early days, the drilling program is reinforcing the view that this area is thought to be prospective for nickel and copper sulphide mineralisation. This area may eventually prove to be equivalent to the Fraser Range or Musgraves areas in Western Australia.


'Our initial drilling results are providing early indications that our focus area selection and targeting assumptions are well justified. We've highlighted a number of prospective areas and rock types which we will continue to drill and review in a diligent and disciplined manner.


'The success to date highlights that the Western Gawler region in South Australia will continue to be an important part of our medium to long term growth pipeline….' said Mr Lougher.


It is anticipated that drilling activities on Strandline's joint venture ground will continue through the December quarter. Any positive results will be followed up with further drilling and geophysics.


Background to Fowlers Bay Project and Joint Venture

The Fowlers Bay Project comprises a 700 km2 exploration licence located approximately 150km west of Ceduna in the Western Gawler region of South Australia, close to existing infrastructure including road and port (see Figure 1).


The tenement package covers an interpreted prospective craton margin containing deep seated structures, with a complex and long lived structural and Proterozoic intrusive history. The area is tectonically related to the Albany‐Fraser (Nova/Bollinger) and Musgrave Orogens (Nebo/Babel and Succoth) and has the potential to host mafic‐ultramafic intrusive related deposits. These styles of deposits are typically large and multi‐commodity (nickel, copper and +/‐PGEs).


On 9 October 2014, Strandline announced a Joint Venture with Western Areas, whereby WSA is to earn in to the Fowlers Bay Project as a priority target area for its Western Gawler regional exploration strategy. Under the Joint Venture, Western Areas will sole fund up to $1.2 million of exploration to earn up to 90%.



Figure 1. Location of Fowlers Bay Project, South Australia Figure 2. Detailed magnetic image of Fowlers Bay

Project showing strongly magnetic features (red) interpreted to represent large ultramafic‐mafic intrusions and structural discontinuities prospective nickel and copper sulphide mineralisation.


About Western Areas Limited

Western Areas is an ASX200 company and Australia's second largest nickel sulphide producer, with high grade nickel production assets in Australia and base metals exploration projects across Australia, Canada and Finland. Western Areas was built upon the successful discovery of two of the highest grade nickel ore bodies in the world located at Forrestania, Western Australia. The Company has a committed strategy of growth, which includes both significant re‐investment in exploration at Forrestania and also continued regional exploration programs outside Forrestania and pre‐development projects in the base metals space in stable jurisdictions.


For further enquiries, please contact:


Richard Hill

Managing Director Strandline Resources Limited T: +61 8 9226 3130

E: [email protected] Website: www.strandline.com.au

Media: Andrew Rowell

Cannings Purple T: + 61 8 6314 6300

E: [email protected]

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | Canada | Finland | Tanzania | All
Gold and Silver Prices for these countries : Australia | Canada | Finland | Tanzania | All

Western Areas NL

PRODUCER
CODE : WSA.AX
ISIN : AU000000WSA9
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Western Areas NL is a producing nickel and gold company based in Australia.

Western Areas NL holds various exploration projects in Australia.

Its main assets in production are FORRESTANIA, FLYING FOX MINE and KOOLYANOBBING in Australia, its main asset in development is SANDSTONE - LORD NELSON in Australia and its main exploration properties are MT FINNERTY NICKEL JV, LAKE KING, MT ALEXANDER, MT JEWELL and SPOTTED QUOLL in Australia and EAST BULL LAKE in Canada.

Western Areas NL is listed in Australia and in Canada. Its market capitalisation is AU$ 732.4 millions as of today (US$ 510.3 millions, € 451.2 millions).

Its stock quote reached its highest recent level on April 15, 2011 at AU$ 6.78, and its lowest recent point on March 27, 2020 at AU$ 1.66.

Western Areas NL has 272 280 000 shares outstanding.

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Corporate Presentations of Western Areas NL
2/17/2014Half Year Results Corporate Presentation
11/21/2013Areas AGM Corporate Presentation
2/21/2013Half Year Results Corporate Presentation
Annual reports of Western Areas NL
Annual Report to shareholders
Annual Report to shareholders
2009 Annual Report
Option Grants of Western Areas NL
2/14/2012Maintains Strong Profits and Declares Dividend
Nominations of Western Areas NL
1/3/2012appoints new Managing Director
Financials of Western Areas NL
2/24/2016Half Year Financial Results Press Release
8/20/2015Areas Full Year Financial Results Presentation
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1/28/2014Revised Resource Table - December Quarterly Report
12/6/2013RBR: Drilling to Commence at Caesar Hill JV
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11/22/2013Final Director's Interest Notice
9/6/2013Assays Increase New Morning High Grade Nickel Intersection
8/30/2013High Grade 8% Nickel Intersection at New Morning
7/19/2013Further High Grade Intersections at New Morning
7/1/2013TKL: Musgrave project farm-in by Western Areas
3/27/2013New Morning Exploration Update
3/14/2013Exploration Strategy and Activities Update
2/1/2013GEOPHYSICS CONFIRMS SIGNIFICANT CONDUCTOR AT NEW MORNING
1/24/2013(Forrestania)New High Grade Nickel Discovery at Forrestania
1/24/2013GTE:Encouraging gold results intersected in drilling Mt Gibb
7/18/2012(Forrestania)Announces New High Grade Nickel Sulphide Discovery at Forres...
5/11/2012Production Guidance Update
3/14/2012Completed the Acquisition of Kagara Nickel
10/5/2011(Flying Fox Mine)Major Nickel Intersection Below Flying Fox Mine
Corporate news of Western Areas NL
8/11/2017Advance Notice - Full Year Results Conference Call
8/2/2016Diggers and Dealers Presentation
6/15/2016Final Director's Interest Notice
6/9/2016Western Areas Board Change
4/22/2016Quarterly Activities Report
4/5/2016Western Areas - Security Purchase Plan Booklet
4/5/2016Western Areas - Section 708A Cleansing Statement
3/31/2016Successful Completion of Western Areas Placement
1/28/2016Change in substantial holding
1/27/2016Quarterly Activities Report
1/11/2016Becoming a substantial holder
12/21/2015Western Areas Reduces Standby Bank Facility Fees
12/1/2015Change in substantial holding from NAB
11/25/2015Annual General Meeting - MD Presentation
11/25/2015Chairman's Address to Shareholders
10/26/2015Quarterly Activities Report
10/23/2015Notice of Annual General Meeting/Proxy Form
10/12/2015MOX: Western Gawler Craton Drilling Recommenced
10/12/2015Western Gawler Craton Update
10/7/2015Western Areas Revised FY16 Capital Expenditure Plans
10/1/2015Cosmos Nickel Complex Acquisition Completed
9/29/2015Western Areas to Commence Drilling at Fowlers Bay Nickel JV
9/28/2015STA: Western Areas to Commence Drilling at Fowlers Bay Nick
9/28/2015Prospective Mafic Intrusions Confirmed at Western Gawler
9/22/2015Becoming a substantial holder
9/14/2015Change in substantial holding
9/1/2015Change in substantial holding
8/28/2015Change of Director's Interest Notice x 3
8/20/2015Dividend/Distribution - WSA
8/20/2015Western Areas Report Increased Full Year Profit and Dividend
8/20/2015Appendix 4E & Full Year Statutory Accounts
8/20/2015Western Areas Full Year Financial Results Presentation
8/18/2015Full Year Results Conference Call Details
7/30/2015Change in substantial holding from NAB
7/21/2015Quarterly Activities Report - Revised
7/19/2015GNG: Contract Award
7/19/2015MILL ENHANCEMENT PROJECT
7/5/2015Major Drilling Program Commenced at Western Gawler Project
7/2/2015WESTERN AREAS NOW DEBT FREE
6/18/2015Western Areas to Acquire the Cosmos Nickel Complex
4/1/2015Change in substantial holding
3/25/2015Change in substantial holding from NAB
3/11/2015Change in substantial holding from NAB
3/5/2015Ceasing to be a substantial holder
2/18/2015Change in substantial holding from NAB
2/17/2015Becoming a substantial holder from MS
2/16/2015Becoming a substantial holder from CBA
2/12/2015Half Year Results Conference Call Details
2/12/2015Ceasing to be a substantial holder from MS
1/21/2015Western Gawler Craton Project Update
11/6/2014Western Areas to Commence Major Exploration at Fowlers Bay
2/28/2014On Market 2014 Convertible Bond Purchase
2/25/2014Areas Share Purchase Plan Offer Document
2/24/2014Cleansing Statement - Notification under section 708A(5)(e)
2/18/2014Successful Completion of Western Areas Raising
2/18/2014Areas Ltd Capital Raising and SPP
2/17/2014Half Year Results Press Release
2/10/2014Areas Upgrades Full Year Guidance
1/28/2014Competent Person Statement
1/9/2014Becoming a substantial holder
12/17/2013Ceasing to be a substantial holder
12/17/2013Managing Director Interview by Market Professional
12/4/2013TKL:Western Areas proceeds to Stage 2 of JV and begins drill
11/21/2013Areas 2013 AGM Results
11/21/2013WSA 2013 AGM Chairman Address
11/21/2013Areas Chairman to Step Down
11/13/2013Finland Exploration Assets - London AIM Listing
10/21/2013Notice of Annual General Meeting/Proxy Form
10/15/2013TKL: Musgraves project - new targets on WSA JV tenements
9/24/2013Becoming a substantial holder
9/12/2013(Spotted Quoll)Spotted Quoll North High Grade Mineral Resource and Reserve
9/6/2013Substantial Shareholder - Restatement from CBA
8/27/2013Preliminary Final Report and Full Year Financial Statements
8/27/2013Areas Full Year Results Press Release
8/27/2013Areas Full Year Result Presentation Pack
8/21/2013Conference Call: Full Year Results for the Year Ended 30 Jun...
7/31/2013Announces Anticipated Non-Cash Impairment
7/23/2013Quarterly Activities Report
7/4/2013Areas Exceeds Full Year Guidance
7/1/2013Strategic Agreement with Traka at Musgraves
6/24/2013GTE: Rights Issue Entitlement
5/31/2013Areas Upgrades Full Year Guidance
4/23/2013Quarterly Activities Report
4/5/2013Chairmans Letter to Shareholders
4/4/2013Becoming a substantial holder
2/21/2013Half Year Accounts and Appendix 4D
2/21/2013Half Year Results Press Release
2/21/2013Results of Meeting
1/29/2013New Offtake Agreement
1/18/2013Notice of General Meeting/Proxy Form
1/14/2013WSA Announces Successful Completion of Share Purchase Plan
1/14/2013Areas Announces New Constitution
1/14/2013Areas Announces Change of Name and Company Type
12/10/2012Section 708A - Cleansing Notice
10/22/2012Notice of Annual General Meeting/Proxy Form
10/16/2012Takes Top Honours at WA Industry & Export Awards
9/21/2012Weekly Summary Alert
8/15/2012Conference Call-Full Year Results for the Year Ended 30 June...
7/25/2012Announces June 2012 Quarterly Activities Report
7/13/2012Weekly Summary Alert
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6/29/2012Weekly Summary Alert
6/15/2012Weekly Summary Alert
6/7/2012(Spotted Quoll)Spotted Quoll Underground Ore Reserves Increase by 94%
6/1/2012Weekly Summary Alert
5/18/2012Weekly Summary Alert
5/4/2012Weekly Summary Alert
4/20/2012Weekly Summary Alert
4/6/2012Weekly Summary Alert
3/23/2012Weekly Summary Alert
3/9/2012Weekly Summary Alert
3/5/2012Acquires 100% of Lounge Lizard and Kagara's Nickel Assets
2/24/2012Weekly Summary Alert
2/10/2012Weekly Summary Alert
1/27/2012Weekly Summary Alert
1/23/2012Announces December 2011 Quarterly Activities Report
1/13/2012Weekly Summary Alert
12/30/2011Weekly Summary Alert
12/22/2011Closes Out Royalty Obligation To Outokumpu
12/16/2011Weekly Summary Alert
12/2/2011Weekly Summary Alert
11/30/2011Agrees One Year Offtake Contract with Jinchuan
10/12/2011Clarification: Lounge Lizard Nickel Deposit
9/23/2011Weekly Summary Alert
9/8/2011Announces Update on Nickel Concentrate Tender Process
8/26/2011Weekly Summary Alert
8/22/2011Strong Financial Results for Year Ended 30 June 2011 & Full ...
8/12/2011Weekly Summary Alert
8/2/2011Considering Nickel Offtake Tender
5/6/2011Weekly Summary Alert
4/15/2011Announces March 2011 Quarterly Activities Report
4/8/2011Weekly Summary Alert
3/25/2011Weekly Summary Alert
2/25/2011Weekly Summary Alert
2/14/2011ALERT: New Western Areas Financial Report
2/11/2011Weekly Summary Alert
11/7/2008Weekly Summary Alert
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AUSTRALIA (WSA.AX)TORONTO (WSA.TO)
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