WIN Metals Ltd (ASX: WIN) ('WIN' or 'the Company') is pleased to provide its shareholders with the current Mineral Resources Estimate and the previous exploration results for the Butchers Creek Gold Project As was announced on 28 August 2024, the Company has conditionally agreed to acquire the tenements comprising the Butchers Creek Gold Project from Meteoric Resources Ltd (ASX:MEI) (Meteoric).
The Company announced on 9 September 2024 that it will commence drilling on the Project in mid-September 2024
As was disclosed in the Company's announcement dated 28 August 2024, Meteoric published a Mineral Resource Estimate (MRE) for Butchers Creek in June 2021 when it restated Northern Star Resources Ltd's 2007 MRE for Golden Crown in compliance with the 2012 JORC code. The Golden Crown MRE combines the Golden Crown and Faugh-a-Ballagh prospects due to their close proximity and similar geological features.
Location and Project History Butchers
Creek is located 30km south-east of Halls Creek in the Kimberley region of Western Australia. The project is accessible via the unsealed Duncan Road that connects the project to the town of Halls Creek and the sealed Great Northern Highway. The Halls Creek region heralded Western Australia's first gold rush in the 1890's but has been largely limited to small scale mining and artisanal activities until the 1990's.
In 1993 Precious Metals Australia (PMA) acquired the Project and carried out extensive drilling at Butchers Creek, completing geotechnical studies, metallurgical test work and mineral resource calculations. Gold production from the Butchers Creek open pit commenced in 1995 with the construction of a 500ktpa conventional carbon in pulp gold ore processing plant, a 9Mt tails storage facility, diesel power station and a 75-person accommodation camp and offices. During operation supplementary ore was trucked some 80kms from the Nicholson's Find gold mine located to the south of Halls Creek (now owned by Pantoro Limited ASX:PNR) and processed at Butchers Creek. Total production from Butchers Creek open pit was 761,000t @ 2.09g/t Au for 52,000oz of gold produced until the operation was closed in late 1997 due to the low gold price at the time. The Butchers Creek 500ktpa processing plant has since been decommissioned and mine site rehabilitated. Post closure of the mining operation in 1997 various public and private entities having held the tenure with exploration drilling in the ensuing period carried out by Northern Star Resources in 2004 and Meteoric between 2020 and 2022.
Local Geology and Mineralisation of Butchers
Creek Gold mineralisation at Butchers Creek is generally stratabound within tightly folded hinge zones of a syenite intrusive host. The gold is strongly associated with potassic alteration and sulphide bearing quartz veins within the syenite host unit. During the mining of Butchers Creek, it was observed that several styles of quartz veining are present including saddle reefs, parallel bedding veins and flat lying extensional veins. The syenite is locally displaced within the open pit by cross cutting faults.
About WIN Metals
WIN Metals (ASX: WIN) is a mineral exploration company holding 340km2 of granted tenure in the Southern Goldfields and Kimberley regions of Western Australia. WIN's possesses gold, nickel and lithium resources within the Company tenure. The Mt Edwards Nickel and Faraday-Trainline Lithium Projects are located at Widgiemooltha 80km south of the major regional centre of Kalgoorlie-Boulder and 30km south-west of the town of Kambalda. The Mt Edwards Nickel Project is a collection of twelve (12) nickel deposits with a total mineral resource reported at 13Mt @ 1.45% Ni for 188,160t of nickel2 . The Faraday-Trainline Lithium Project is shovel ready with an approved small mining proposal3 and a reported mineral resource of 1.96 Mt at 0.69% Li2O4 . The Butchers Creek Gold Project is located 30km south-east of Halls Creek in the Kimberley region of Western Australia. Butchers Creek is a historic gold production centre hosting a global mineral resource of 5.6Mt at 2.0g/t Au for 357,000oz of gold and a series of advanced gold drill targets. Previous production from the Butchers Creek gold mine resulted in 52,000oz of gold being produced between 1995 and 19971 . The tenements comprising the Butchers Creek Gold Project are currently held by Meteoric's wholly owned subsidiaries, Horrocks Enterprises Pty Ltd (Horrocks) and Kimberly Resources Pty Ltd (Kimberly). WIN will acquire the tenements once the acquisition is complete.
Competent Person Statement - Exploration Results
The information in this announcement that relates to mineral resource estimates and exploration results is based on information reviewed, collated and fairly represented by Mr William Stewart, who is a full-time employee of WIN Metals Ltd. Mr Stewart is a member of the Australian Institute of Metallurgy and Mining (member no 224335). Mr Stewart has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Stewart consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Additionally, Mr Stewart confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.
Compliance Statement
The Company confirms it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original announcement.
Forward Looking Statements
This announcement includes forward-looking statements that are only predictions and are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of WIN Metals Ltd, the directors and the Company's management. Such forwardlooking statements are not guarantees of future performance. Examples of forward-looking statements used in this announcement include use of the words 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intend' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of announcement, are expected to take place. Actual values, results, interpretations or events may be materially different to those expressed or implied in this announcement. Given these uncertainties, recipients are cautioned not to place reliance on forward-looking statements in the announcement as they speak only at the date of issue of this announcement. Subject to any continuing obligations under applicable law and the ASX Listing Rules, WIN Metals Ltd does not undertake any obligation to update or revise any information or any of the forwardlooking statements in this announcement or any changes in events, conditions or circumstances on which any such forward-looking statement is based
Contact:
Steve Norregaard
Managing Director
WIN Metals steve@winmetals.com.au
Tel: 0472 621 529
