The Wilcherry Project is located within the Gawler Craton, northern Eyre Peninsula, 40 km north of Kimba in South Australia. Wilcherry comprises seven exploration licences covering 1,200 km2 which are prospective for gold and base metals. The Project is a joint venture with Alliance Resources Ltd (Alliance 75.01% and manager, Tyranna 24.99%).
Weednanna is the most advanced gold deposit at Wilcherry and has a maiden Mineral Resource of 1.097 Mt @ 5.1 g/t gold for 181,000 oz gold classified as Indicated and Inferred in accordance with the JORC Code.
The reported Mineral Resource is that proportion of gold contained within $2,000 AUD pit shells (>0.5 g/t gold) and >2.0 g/t gold underground potential. Significant potential to increase the size of the Mineral Resource with further drilling as all 13 modelled gold shoots are open at in at least one direction.