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Widge Nickel Unlock Potential for Widgie South Nickel Resource Growth

20 July 2023 12:45

Drill results from Widgie Nickel’s namesake Widgie South Project have bolstered the Company’s confidence in upgrading the Project’s estimated 71,800t contained nickel resource, with the rig uncovering significant nickel mineralisation intercepts outside of the current resource.

Extending Mineralisation

The drilling campaign focused on delivering extensions to the Project’s main Gillet Resource, with hole 23MERCD057 extending Gillett mineralisation 270m to the south with an intersection of 7.00m @ 1.14%Ni and hole 23MEDD007 extending Gillett mineralisation 120m to the north of the current resource with an intersection of 2.12m @ 1.33% Ni.

Following this extensive drilling campaign, Gillet’s known nickel mineralisation has been extended to approximately 1.5km in the strike, with mineralisation remaining open both to the north and south.

Another significant return from the campaign is from hole 23MERCD027 which hit the Gillett North target and delivered a significant intersection of 13.2m @ 1.68% Ni, including a significant assay of 4.36% Ni for 2.51m, confirming that the target hosts a high-grade core.

Upgrading Nickel Resource

To make the most of these new discoveries, the Company is currently undertaking a detailed structural review underway to assist with future targeting of the mineralised channels, with a downhole electromagnetic survey also planned for hole 23MERCD057 to vector future drilling to the core of this southern extension.

All this work will lead up to a resource upgrade for Gillett once drilling is complete which will include both the southern extension and Gillett North in the estimation, with the Company anticipating to deliver this upgrade next month.

Once complete, the Company will begin a re-estimation of the Gillet Resource, including both the newly uncovered southern extension and the Gillet North target, with the Company saying that these results continue to demonstrate the extremely fertile nature of Widgie’s tenure.

“As we round off our infill and extensional drilling programs prior to resource re-estimation we continue to be impressed with the potential of Gillett and the Widgie South trend. These results demonstrate ample upside for resource growth and confirm the continuity of mineralisation within the current resource,” Managing Director Steve Norregaard said.

“We remain supremely confident of the significant value potential contained within our nickel resource and with our Widgie
South Scoping Study progressing well this great news only cements the foundation for that confidence.”

WIN’s Australian Stock Exchange-listed share price is currently trading at 23.5c (12:42 pm UTC+ 8 hours).

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