Microsoft Word - 2015-02-25 Major Tunkillia data review reveals more gold prospects.doc
ASX and Media Release
Major Tunkillia data review reveals more gold prospects - 14 planned for priority exploration
WPG Resources Ltd (ASX:WPG) has identified 14 prospects for priority exploration follow-up from a total of 33 targets generated from a major review of historical data compiled by previous explorers. These prospects are all located within the Tunkillia exploration tenements.
The Tunkillia gold project comprises three exploration licences that cover a combined area of 1,606.6 sq km as follows:
• EL 4812 Lake Everard 1,089 sq km
• EL 4495 Lake Everard West 150.2 sq km
• EL 4696 Cooritta Hill 367.4 sq km
Tunkillia Gold Pty Ltd, a wholly owned subsidiary of WPG, received Ministerial approval for the transfer of EL 4812 and 4495 in January 2015 with finalisation of the transfer of these tenements upon registration now imminent.
High priority prospects include:
• Three new prospects - Cooper, Hatchet and Chainsaw.
• Area 51, which is favourably located in the Yarlbrinda Shear Zone (YSZ) along strike from the Tunkillia 223 deposit and is rated as a "walk up" drill target.
• Tomahawk Extended, where there is a target with a potential 700 metre strike length.
The Tunkillia 223 gold deposit is situated within EL 4812. The 14 prospects prioritised for follow up exploration are also located within this tenement and generally in close proximity to the Tunkillia gold deposit.
25 February 2015
ASX Announcement - 25 February 2015
The follow up work will include programs of:
• Systematic close spaced calcrete sampling to follow up poorly defined anomalies
• Geophysical modelling and evaluation of potential geophysical targets in the regional data sets
• RAB, Aircore and RC drilling
The location of these prospects is shown in Figures 1 and 2.
Figure 1 - Tunkillia Project Prospect Location Map
ASX Announcement - 25 February 2015
Figure 2 - Tunkillia Project Prospect location in the Northern Yarlbrinda Shear Zone
The historical exploration data in the region has been based on extensive calcrete gold geochemical sampling and it is estimated that a total of 12,084 calcrete samples have been collected and analysed over the area of the Tunkillia tenements.
Previous explorers then defined prospects through follow-up of spot high sample results with closer spaced calcrete sampling and then testing the ensuing anomalies with either RAB or aircore and RC drilling.
This method led to the discovery of the large Tunkillia gold deposit at the 223 prospect.
The historical data that was acquired by WPG also includes detailed aeromagnetic, TEMPEST airborne EM and in-fill gravity surveys completed over parts of the Lake Everard tenement (EL 4812) mostly focussed on the Yarlbrinda Shear Zone. Further data includes gradient array IP, biogeochemical sampling, CHIM/MMI geochemical sampling and spectral scanning of RC chips.
ASX Announcement - 25 February 2015
The major detailed data review carried out by WPG was designed to establish the validity of the selection criteria previously used and to determine if further exploration was warranted. The initial 14 prospects now targeted for further exploration have resulted from this analysis.
No new exploration results were uncovered or generated during the course of this data review and accordingly it has been determined that an accompanying JORC table is not material to the understanding of the information as outlined above.
Further Information
For further information please contact WPG's Executive Chairman, Bob Duffin on
(02) 9247 3232 or Managing Director & CEO, Martin Jacobsen on (02) 9251 1044.
Competent Person
The sections in this report that relate to the results of a data review were based on information acquired from Mungana Goldmines (ASX:MUX) and compiled by Mr Gary Jones, a Fellow of the Australasian Institute of Mining and Metallurgy. He is Technical Director of WPG Resources Ltd and a full time employee of Geonz Associates Limited. He has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code & Guidelines). Mr Jones has consented in writing to the inclusion in this report of the matters based on his information in the form and context in which it appears.