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FORRESTANIA
Great Western Exploration Ltd (GTE) is a significant landholder in the Forrestania district with a total of 303 km2 of area. The main focus has been the southern extension of the Forrestania greenstone belt which the company believes extends a further 12km south than previously thought, obscured by the remnants of a thin granite sill overlying the sequence.
This stratigraphy is similar to what has been described at the Diggers South and Cosmic Boy nickel deposits, both of which are located along strike to the north west of the project area. A recently completed independent geological review concluded that the Mt Gibb project has significantly under-explored nickel potential due to:
• Confirmation of the presence of Olivine-rich komatiitic lithologies
• Occurrence of disseminated pentlandite
• Sparse nature of outcrop
• Surplus of untested EM targets
• Limited Ni-relevant in previous exploration
• Favourable komatiite geochemistry
• Limited effectual drilling
Within this sequence the company has intersected komatiite and sulphidic BIF units at least 6km further south and along strike of the last known ultramafic in outcrop or drill hole. The company has entered into a JV with Western Areas NL (ASX: WSA) to explore the project whereby WSA can earn up to 70% interest in the Project in two stages by spending $2.5 million.
• Stage 1 WSA to earn 51% by spending $1.0 million in two years;
• Stage 2 WSA to earn a further 19% by spending $1.5 million within five years;
• There is a minimum commitment of $200,000 before WSA can withdraw from the JV.
Western Areas NL owns and operates the Flying Fox nickel mine and other significant infrastructure in the region which includes nickel concentrator, grid power and plant & equipment. In addition to its operations, Western Areas also has an impressive discovery record since they commenced nickel exploration in the region, which includes the recent Spotted Quoll deposit.
Work completed by GTE to date has identified a sequence of geochemically favourable komatiitic basalt stratigraphy, which overlies a thin sulphidic BIF, and contains disseminated pentlandite. The sequence has been intersected in three diamond holes that are located 1.5km apart with the thickest down hole intersection of 132m.
Great Western believes this to be an excellent opportunity to progress the project further by leveraging off the considerable infrastructure, resources & expertise that Western Areas bring to the JV.
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