Wild Acre (ASX: WAC) intends to achieve this goal by exploring for high grade gold deposits in areas of historical mining with a lack of modern exploration and where previous exploration has shown results of high quality but remain where exploration remains incomplete.
Wild Acre Metals (ASX: WAC) will soon begin deep testing of a 550 metre gold mineralised corridor between the Boudie Rat and Forrest Belle open pits at the Quinns Project in the Mt Ida district, a region that is attracting renewed interest.
The company will kick off a 1,500 metre reverse circulation drilling program next week, which is co-funded up to $78,000 by the Western Australian Government.
Wild Acre holds about 290 square kilometres of exploration acreage in the Mt Ida region covering about 43 kilometres of the Ballard Fault/Zuleika Shear.
The company identified the mineralised corridor through bottom-of-hole sampling of historical drilling using low level gold assay techniques.
Contours of over 9 parts per billion and 20 parts per billion gold indicate the trend of gold anomalism within the target area to a maximum of 89.9 parts per billion gold.
Importantly, this sampling has enabled more accurate targeting of reverse ciruclation drilling between the Boudie Rat and Forrest Belle pits.
Renewed Mt Ida interest
Swan Gold Mining (ASX: SWA) announced last week it has reached agreement with Investmet, which intends to recapitalise the company and provide sufficient funding to complete a review into recommencement of operations at the Carnegie and Mt Ida gold projects.
Why it is so important to be able to secure funding from the likes of Investmet, is that the group has taken strategic positions in companies such as Northern Star Resources (ASX: NST) in recent years –which is currently trading at around $0.70, up from less than $0.03 two years earlier.
This investment by Investmet is a positive advancement towards the introduction of critical infrastructure in the region, which could provide Wild Acre Metals with access to a district milling facility.
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