West Cobar Metals project updates

West Cobar Metals (ASX:WC1) has announced progress in its major projects. These include the Bulla Park Copper Antimony Project in New South Wales and the Salazar Critical Mineral Project in Western Australia. The company is raising $838,751 through an Entitlement Offer to advance these initiatives.

Outlook and strategic goals

West Cobar Metals is actively advancing its exploration projects, focusing on Bulla Park and Salazar sites. The company aims to expand its mineral resource base, particularly in critical minerals like rare earth elements and scandium, which are vital for green technologies. The Entitlement Offer is a strategic move to fund these developments and explore new prospects. By seeking strategic partners, West Cobar Metals is positioning itself for accelerated growth and development. The ongoing project reviews and metallurgical testing are expected to enhance the company's resource potential and market position in the critical minerals sector.

Executive insights on project developments

Recent drilling at Bulla Park has confirmed a large interval of antimony and copper mineralization, measuring 66m at 0.34% copper (Cu) and 0.13% antimony (Sb), along with 7 g/t silver (Ag). The mineralization is associated with a significant gravity anomaly, with only a small part drilled to date. A review is underway to identify potential higher-grade areas. The mineralization is located within major fault zones and two adjacent carbonate-rich horizons. Metallurgical testing, including flotation and concentrate options, is commencing. The company is searching for a strategic partner to expedite the program. The project includes the Newmont and O'Connor deposits, which have shown significant rare earth elements (REE), titanium dioxide (TiO2), scandium, and alumina potential. Updated Mineral Resource Estimates for Newmont include 230Mt at 1178 ppm TREO, indicating potential for resource expansion with further drilling. Metallurgical testwork indicates a pathway for creating a titanium, REE, and scandium product stream. Scandium leach tests have shown promising recovery rates, and further exploration could extend resources. The company has identified four high-priority targets for iron oxide copper-gold (IOCG) mineralization. Despite high prospectivity, exploration has been limited due to thin cover layers. Geophysical data review has led to the selection of targets for testing via reverse circulation drilling. An application has been made for co-funding of drilling costs under the WA government's Exploration Incentive Scheme.