Western Mines Group Ltd (ASX:WMG) Phase 3 RC program update

Western Mines Group Ltd (WMG) (ASX:WMG) has completed the first 19 holes of the Phase 3 reverse circulation (RC) drilling program at the Mulga Tank Ni-Cu-Co-PGE Project in Western Australia. The program has reached a total depth of 6,002m, with drilling focused on infilling and extending mineralisation within the main body of the Mulga Tank Complex, particularly to the south of high-grade results in MTRC032 and MTRC038. Additionally, the company has initiated regional RC drilling of 5 holes to test interpreted komatiite channels within tenement E39/2134, supported by an Exploration Incentive Scheme (EIS) grant.

Executive commentary on Phase 3 RC program progress

We're making steady progress on our Phase 3 RC program with 19 of the holes now complete for just over 6,000m. The rig has now changed back to mud rotary pre-collaring for the remaining holes, which should take around 1.5 to 2 weeks and then we'll commence the final RC drilling. Samples from each of these holes have been submitted to the lab on the completion of each hole and we expect to start to see a regular flow of results start coming through in the next few weeks. After further weather related delays we were finally able to get a DHEM crew to site who completed a DHEM survey in August. This was the most successful survey to date, in terms of holes able to be surveyed, with all holes except deep diamond hole MTD028 (blocked) able to be surveyed to near bottom of hole. Anomalies were seen, generally relating to visual sulphide mineralisation observed, in each of the holes. Further investigation into the results of holes MTRC015 and MTRC018 is being undertaken and these holes may look to be re-entered and extended to target possible off-end of hole targets.

Summary of Mulga Tank exploration activities

Western Mines Group Ltd (WMG) has made significant progress in its exploration activities at the Mulga Tank Ni-Cu-Co-PGE Project, with the completion of the first 19 holes of the Phase 3 RC drilling program. The company's focus on infilling and extending mineralisation within the main body of the Mulga Tank Complex has yielded promising results, with high-grade findings in specific areas. The successful completion of a multi-hole Down Hole ElectroMagnetic (DHEM) survey has provided valuable insights, identifying anomalies associated with visual sulphide mineralisation in the drilled holes. Ongoing metallurgical test work on bulk sample material from MTD029 remains in progress, demonstrating the company's commitment to advancing and de-risking a globally significant, large-scale, open-pitable nickel sulphide deposit at Mulga Tank. WMG's exploration efforts have demonstrated significant nickel sulphide mineralisation and an extensive nickel sulphide mineral system within the project, positioning the company for further exploration and potential discoveries.