AI assistant
WESTAR RESOURCES LIMITED — Capital/Financing Update 2023
Feb 26, 2023
66085_rns_2023-02-26_5b130ad5-786a-416b-8636-bdd6eca32e5e.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
ASX Announcement
==> picture [58 x 39] intentionally omitted <==
LCT Pegmatite Mineralisation Potential Confirmed at Olga Rocks
HIGHLIGHTS
==> picture [11 x 11] intentionally omitted <==
Rock chip assays indicate highly fractionated and fertile LCT-type pegmatites, including:
-
ORK0016 – 259ppm Li, 22.8ppm Cs, 807ppm Rb, 17.1ppm Ta, (34.5ppm Sn); and
-
ORK0029 – 21.4ppm Li, 107.5ppm Cs, 937ppm Rb, 20.6ppm Ta, (22.5ppm Be).
-
Mapped surface outcrops have defined two pegmatite domains highlighting a known 350m strike, up to 30m wide open in both directions beneath transported soil cover.
==> picture [11 x 11] intentionally omitted <==
==> picture [11 x 11] intentionally omitted <==
- Historical drilling and sampling combined with recent mapping and pegmatite fractionation trend analysis to be integrated for drill program planning.
==> picture [11 x 11] intentionally omitted <==
- WSR progressing permitting and approvals ahead of a maiden H1CY23 RC drilling campaign.
Westar Resources Limited (ASX: WSR ) ( Westar or the Company ) is pleased to announce the completion of a geological reconnaissance fieldwork program at the 100% owned Olga Rocks Project in the Yilgarn Region of Western Australia.
The Olga Rocks Project contains multiple mapped pegmatites with rock chip sampling, completed by Westar, indicating the pegmatites form part of a highly fractionated system with all pathfinder elements confirming they belong to the Lithium bearing LCT pegmatite type. Westar considers these results to be highly encouraging for Li-bearing mineralisation along a trend of up to 1.4 km and interprets these pegmatites to form part of the developing world-class Forrestania Li Pegmatite swarm which hosts Covalent Lithium’s Mt Holland Project and Zenith’s recently discovered deposits.
Westar Managing Director Karl Jupp commented:
“Westar has wasted no time in commencing exploration activities at Olga Rocks and this initial rock-chip sampling program confirms the potential for the project to host LCT-pegmatite mineralisation. WSR are immediately progressing to target definition and progressing permitting and approvals with the intention of completing a maiden drilling program in H1CY23.”
==> picture [54 x 49] intentionally omitted <==
==> picture [55 x 55] intentionally omitted <==
==> picture [75 x 9] intentionally omitted <==
----- Start of picture text -----
Registered Address
----- End of picture text -----
A
P
Board Members
T E W
Pilbara Projects Opaline Well Murchison Projects
Yilgarn Projects
ASX Code
==> picture [56 x 38] intentionally omitted <==
Rock Chip sampling program
Westar geologists have completed initial mapping and sampling activities at the recently acquired Olga Rocks Project, with a focus on defining pegmatite outcrops and establishing evidence for fractionated pegmatites and potential LCT-pegmatite mineralisation, allowing drill targeting to be undertaken. Seven pegmatite outcrops were mapped and sampled from separate eastern and central pegmatite trends. The eastern pegmatite is approximately 30 metres wide and can be traced for around 350m before running under transported soils. The Western pegmatite outcrops sporadically along 350m of strike trend before also being covered by lake sediments to the south and alluvial cover to the north. Importantly this western pegmatite trend is along strike of historical drilling intercepts. Westar is currently undertaking a detailed review of the results and will release an interpretation as soon as completed.
Westar interprets the geochemistry of the rock chip samples to indicate highly fractionated pegmatites, which can be classified as LCT-style mineralisation. Numerous samples returned anomalous pathfinder assays, particularly for Cs, Rb and Sn. Of note, sample ORK0016 returning a maximum 259 ppm Li in a coarse, muscovite dominated sample, interpreted as the residual weathering product of a micaceous pegmatite (Figure 1a) and sample ORK0029 returning > 100ppm Cs in graphic, micaceous pegmatite (Figure 1b). Several other samples (Table 1) are highly anomalous, despite the highly weathered nature of the samples, in Li, Rb, Cs, and Ta and are interpreted to meet established criteria of muscovite derived from an LCT pegmatite system[1] .
Of further note, sample ORK0032, from vein quartz on the footwall of the pegmatite in a small prospector working, returned 0.341g/t Au (Table 1) emphasising the multi commodity, gold and lithium potential.
1 Selway, Julie. (2005). A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits. Exploration and Mining Geology. Page 11
2
==> picture [56 x 38] intentionally omitted <==
==> picture [238 x 270] intentionally omitted <==
==> picture [237 x 273] intentionally omitted <==
Figure 1A (left) - Weathered muscovite subcrop/soil sample (259ppm Li & anomalous Ta, Rb, Sn). Figure 2B (right) - Pegmatite outcrop with anomalous Cs, Ta, Rb, Be and graphic texture.
Table 1 - Anomalous[2] rock chip samples - Full list of samples provided in Appendix 1
| Sample ID |
East MGA |
North MGA |
Type | Li ppm |
Cs ppm |
Ta ppm |
Rb ppm |
Sn ppm |
K % |
Au ppm |
|---|---|---|---|---|---|---|---|---|---|---|
| ORK0013 | 744681 | 6487271 | Rockchip |
10.6 | 39.9 |
0.54 | 1045 | 1.4 |
6.84 | 0.002 |
| ORK0014 | 744690 | 6487270 | Rockchip |
10.9 | 10.4 |
0.69 | 556 | 1.1 | 5.32 | 0.033 |
| ORK0016 | 744709 | 6487259 | Rockchip3* | 259 |
22.8 |
17.1 | 807 | 34.5 | 3.86 | 0.115 |
| ORK0028 | 744278 | 6487166 | Rockchip |
12.3 | 61.4 |
0.6 | 1280 | 0.9 |
7.43 | 0.003 |
| ORK0029 | 744382 | 6486882 | Rockchip |
21.4 | 107.5 |
20.6 |
937 | 5.9 | 4.92 | 0.002 |
| ORK0030 | 744378 | 6486884 | Rockchip |
23.3 | 23.4 |
3.67 | 717 | 3.3 | 4.05 | 0.005 |
| ORK0031 | 744377 | 6486894 | Rockchip |
11.6 | 15.7 |
14.15 | 231 |
2.4 | 1.5 | 0.007 |
| ORK0032 | 744382 | 6486894 | Rockchip |
12.8 | 2.99 |
2.34 | 18.5 | 0.5 |
0.11 | 0.341 |
| ORK0033 | 744377 | 6486899 | Rockchip |
30.8 | 24.9 |
8.79 | 349 | 9.9 | 2.1 | 0.002 |
2 Highlighted values are greater than 5 times average crustal abundance according to Selway, Julie. (2005). A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits. Exploration and Mining Geology. Table 1.
3 Weathered coarse muscovite and soil sample derived from heavily weathered subcrop.
3
==> picture [56 x 38] intentionally omitted <==
==> picture [461 x 639] intentionally omitted <==
Figure 3 - Location of rock chip samples, mapped pegmatite outcrop and orientation soil sampling
4
==> picture [56 x 38] intentionally omitted <==
Soil sampling program
An orientation soil sampling line was completed to establish the effectiveness of the exploration method for lithium bearing pegmatite under the thin cover (Figure 3). Eight samples were collected, returning assays that averaged 22ppm Li. A maximum of 57.5ppm Li (Table 2) returned with the highest values of Cs, Rb and Ta. This is interpreted to demonstrate soil sampling is effective in identifying LCT type pegmatites in areas of poor outcrop or under cover[4] . Further work is planned over the remainder of the tenement to test for ‘blind’ pegmatites which occur outside of the known pegmatite occurrences.
Table 2 - Soil sample locations and results. Additional information provided in Appendix 2.
Co-ordinates: UTM GDA 94, MGA Zone 50
| Sample ID |
East MGA |
North MGA |
Li ppm | Cs ppm |
Ta ppm |
Rb ppm |
Sn ppm |
K % |
Au ppm |
|---|---|---|---|---|---|---|---|---|---|
| ORK0034 | 744607 | 6487263 | 15.9 |
1.12 | 0.29 | 19.7 | 0.6 | 0.51 | 0.019 |
| ORK0035 | 744628 | 6487260 | 14.7 |
1.17 | 0.46 | 21.7 | 0.6 | 0.51 | 0.025 |
| ORK0036 | 744648 | 6487262 | 19 |
1.9 | 0.46 | 27.3 | 0.8 | 0.55 | 0.019 |
| ORK0037 | 744673 | 6487261 | 18.4 |
2.68 | 0.52 | 44.2 | 0.9 | 0.64 | 0.016 |
| ORK0038 | 744690 | 6487262 | 57.5 |
12.7 | 2.62 | 236 | 6.1 | 1.66 | 0.042 |
| ORK0039 | 744713 | 6487263 | 22.8 |
4.42 | 0.68 | 87.3 | 1.5 | 0.91 | 0.014 |
| ORK0040 | 744739 | 6487258 | 16.3 |
4.09 | 0.47 | 39.8 | 0.7 | 0.56 | 0.011 |
| ORK0041 | 744760 | 6487256 | 14.1 |
2.09 | 0.31 | 29.2 | 0.6 | 0.45 | 0.013 |
4 See ZNC ASX Announcement, 9 Feb 2023, “Major New Lithium Target At Split Rocks”
5
==> picture [56 x 38] intentionally omitted <==
==> picture [500 x 345] intentionally omitted <==
Figure 4 - Location of soil samples with lithium and trace element composition
Geochemical Comparison with Known Deposits
Lithium assays from both soil samples and rock chips are frequently below expected background values for an LCT type pegmatite. This is interpreted to indicate lithium depletion in weathered pegmatites as also seen in the Earl Grey lithium pegmatites, approximately 40km to the south[5] . Westar considers the anomalous rock chip and soil samples to be encouraging and highly significant when compared to published data from the proximal Earl Grey Li deposit (Table 3), especially noting the elevated LCT element assemblage from Westar’s rock chips.
Note that the weathered pegmatite sample from Earl Grey shows no anomalism in trace elements.
5 See KDR ASX announcement, 19 March 2018 “Substantial Increase in Earl Grey Lithium Mineral Resource Estimate”. Table 1 Section 3 p26: “Li2O% mineralisation is depleted in weathered pegmatite”
6
==> picture [56 x 38] intentionally omitted <==
Table 3 - Comparison of Olga Rocks and Earl Grey samples.
| SampleID | Easting MGA |
Northing MGA |
Li GAI | Cs GAI |
Ta GAI | Rb GAI |
Sn GAI |
Be GAI |
|---|---|---|---|---|---|---|---|---|
| ORK0013 | 744681 |
6487271 | 0 | 3 | 0 | 2 | 0 | 0 |
| ORK0014 | 744690 |
6487270 | 0 | 1 | 0 | 2 | 0 | 0 |
| ORK0016 | 744709 |
6487259 | 3 | 2 | 2 | 2 | 3 | 0 |
| ORK0028 | 744278 |
6487166 | 0 | 3 | 0 | 3 | 0 | 0 |
| ORK0029 | 744382 |
6486882 | 0 | 4 | 2 | 2 | 0 | 2 |
| ORK0030 | 744378 |
6486884 | 0 | 2 | 0 | 2 | 0 | 0 |
| ORK0031 | 744377 |
6486894 | 0 | 1 | 2 | 0 | 0 | 0 |
| ORK0033 | 744377 |
6486899 | 0 | 2 | 1 | 1 | 1 | 0 |
| Earl Grey | Weathered | Pegmatite | 2 | 0 | 0 | 0 | 1 | |
| Earl Grey | Fresh | Ore | 6 | No Data | 4 |
3 | 3 | 6 |
| Earl Grey | Transition |
Ore | 6 | No Data | 3 |
3 | 4 | 6 |
Co-ordinates: UTM GDA 94, MGA Zone 50
Global Abundance Index (GAI)[6] – Number of times Average Crustal Abundance on Log 2 scale.
Data for Earl Grey Representative Samples or Ore, Transitional and Weathered material from drill intervals of Earl Grey Li deposit. (GAI=0 represents >3 times background, GAI=1 represents 3-6 times background, GAI=2 represents 6-12 times background, GAI=3 12-24, GAI=4 24-48, GAI=5 48-96 GAI=6 <96 times median average crustal abundance for granitic rocks.)
Next Steps
Westar is currently finalising the geological mapping and fractionation trends based on the reconnaissance mapping and sampling. In addition, Westar has commissioned PGN Geoscience to compile a detailed litho-structural interpretation using high-resolution open file data (MAGIX:A84462) to assist in providing definition and orientation of the pegmatites undercover and assist in drill targeting for both LCT-style pegmatite mineralisation and gold.
Other planned exploration activities include:
-
Interpretation of completed mapping and fractionation trends.
-
Additional rock chip sampling
-
Ongoing review of historical gold mining reports overlying the tenure
-
Assessing the western Parker Dome tenement for LCT pegmatite potential.
-
Permitting and approvals prior to a maiden “Proof of Concept” RC drilling campaign
6 http://www.gardguide.com/index.php?title=Elemental_composition_of_mineralized_rocks
7
==> picture [56 x 38] intentionally omitted <==
Background
The Olga Rocks Project is located within the emerging Forrestania Li district (Figure 4), which hosts the developing Covalent Lithium “Mt Holland Project” (189Mt @ 1.50% Li20[7] ), along with Zenith Minerals recent Li-pegmatite discovery at the “Split Rocks Project”[ 8] , less than 1.5km from Olga Rocks. Westar considers this Project has the potential to further enhance the Tier 1 lithium potential of the district, with further exploration success. Westar announced on 16 January 2023 completion of negotiations to acquire the Olga Rocks project.
==> picture [383 x 463] intentionally omitted <==
Figure 4 – Location map of the Olga Rocks Project, south of Southern Cross, WA
7 See KDR ASX Announcement, 26 April 2018 “Quarterly Activities Report”
8 See ZNC ASX Announcement, 16 November 2022, “Zenith Drilling Returns Significant Lithium”
8
==> picture [56 x 38] intentionally omitted <==
ABOUT WESTAR RESOURCES
Westar Resources is a Perth-based mineral exploration company focused on creating value for shareholders through the discovery and development of high-quality precious and future metal assets in Western Australia. Westar’s projects are strategically located in the highly prospective Pilbara, Murchison and Yilgarn regions of WA, with projects near Nullagine, Mt Magnet, Cue, Southern Cross and Sandstone. Our exploration strategy is to explore projects aggressively and intelligently using innovation, technology, and best-practice with a clear focus on optimising opportunities for success and generating material discoveries.
For the purpose of Listing Rule 15.5, this announcement has been authorised by the board of Westar Resources Ltd.
ENQUIRIES
Karl Jupp , Managing Director & CEO | +61 8 6556 6000 | [email protected]
_____
COMPETENT PERSON STATEMENT
The Exploration Results have been compiled under the supervision of Mr. Jeremy Clark who is a director of Lily Valley International and a Registered Member of the Australian Institute of Mining and Metallurgy. Mr. Clark has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined in the JORC Code
_____
9
==> picture [56 x 38] intentionally omitted <==
Olga Rocks Project – Rock Chip Sampling JORC Code, 2012 Edition – Table 1 report Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary |
| Sampling techniques | Rock chip samples representative of the outcropping geology were collected by experienced geologists. Samples were typically between 1 and 2kg. |
| Drilling techniques | Not applicable as no drilling was undertaken. |
| Drill sample recovery | Not applicable as no drilling was undertaken. |
| Logging | Geological descriptions of each rock chip sample were appropriately recorded along with a unique sample number and the coordinates for each sample site. |
| Sub-sampling techniques and sample preparation |
No sub-sampling of the rock chip samples was undertaken. |
| Quality of assay data and laboratory tests |
No field blanks, field standards or field duplicates were submitted for assay. The samples were assayed at ALS laboratories in Perth. ALS are an accredited and recognised laboratory for this type of routine analysis and conduct appropriate QAQC samples as part of their standard assaying techniques. The main sample preparation and analysis steps were as follows: Lab. Code CRU-21: Coarse crushing of rock chip and drill samples. Used as a preliminary step before fine crushing of larger sample sizes or when the entire sample will be pulverized but the material is too large for introduction to the pulverizing equipment. No QC reported. Lab code PUL-24: Pulverize up to 3kg of raw sample. QC specification of 85% <75µm. Samples greater than 3kg are split prior to pulverizing and the remainder discarded. Lab. Code ME-ICP89: Na2O2peroxide fusion - Analysis of various elements by ICP-AES after Sodium Peroxide Fusion. This procedure is ideal for the determination of intermediate and ore grade lithium and associated whole rock elements in hard rock lithium settings. Lab. code ME-MS91: Selected element determination by Sodium Peroxide Fusion and Dissolution followed by ICP-MS analysis |
| Verification of sampling and assaying |
Sampling was undertaken by a suitably qualified geologist and assaying quality was checked using internal laboratory standards reported to WSR. |
| Location of data points | GPS coordinates for each site were collected using a handheld GPS. Datum: UTM GDA94, Grid: MGA Zone 50K |
| Data spacing and distribution | Rock chip samples were collected from prospective outcrops. There is no regularity to the sample pattern. |
| Orientation of data in relation to geological structure |
Not relevant for rock chip sampling. |
| Sample security | Samples were collected on site and transported in a single batch by Westar Resources |
10
==> picture [56 x 38] intentionally omitted <==
employees to the Westar office in Perth. Samples were received by a Westar Geologist for sample photographs and to verify sample numbers and packaging before being transported by Westar’s Managing Director to the assay laboratory. Audits or reviews Data interpretation is ongoing.
Olga Rocks Project – Rock Chip Sampling JORC Code, 2012 Edition – Table 1 report
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | Commentary |
| Mineral tenement and land tenure status |
Exploration reported was conducted on tenements P77/4271, which is 100% owned by Lithium Energy Pty Ltd, a subsidiary of Westar Resources Limited. The Olga Rocks Project is located approximately 70km south of Southern Cross in Western Australia. The tenement is current and in good standing with the Department of Mines, Industry Regulation and Safety (DMIRS) of Western Australia. |
| Exploration done by other parties |
Previous exploration has been undertaken by companies including Sons of Gwalia and Polaris as part of Joint Venture arrangements. All work is considered historical in nature and completed on local grids. |
| Geology | The Olga Rocks Project lies within the Southern Cross Greenstone Belt, which forms a lensed, broadly sinusoidal belt measuring some 250 km in length and 50 km in width. It is dominated by volcanic and sedimentary sequences and surrounded by intrusive granitoids, which contain rafts of greenstone. The margins of the belt are typically dominated by contact-metamorphosed basalts and banded iron formations (BIF). |
| Drill hole Information | Historical drilling of holes by RAB and RC methods was done by previous companies publicly listed on the ASX. The historical drilling data are publicly available on the DMIRS WAMEX system. Further work is required to fully validate the open file drill hole information. |
| Data aggregation methods | There has been no data aggregation. |
| Relationship between mineralisation widths and intercept widths |
No relationship between mineralisation widths and intercept widths have been established with the limited historical exploration data available. There is insufficient drilling to confidently interpret the orientation of a potential mineralized zone. |
| Diagrams | Suitable maps are included in the body of the announcement. |
| Balanced reporting | Key results and conclusions have been included in the body of the announcement. All rock chip assays are included in the Appendix. |
11
==> picture [56 x 38] intentionally omitted <==
| Other substantive exploration data |
Open file historical drilling and sampling data over several areas of the Project is publicly available on the DMIRS WAMEX system. Compilation of this data is ongoing including the validation of local grids used in exploration reports by previous explorers. |
| Further work | Westar intends to progress exploration activities at Olga Rocks to advance both the lithium-cesium-tantalum pegmatite and gold targets. Upcoming field activities include evaluation of current rock chips, additional mapping, rock chip sampling and soil sampling and the re-processing of geophysics data before target definition, ranking and design of a maiden drilling campaign. |
Olga Rocks Project – Soil Sampling
JORC Code, 2012 Edition – Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | Commentary |
| Sampling techniques | Soil samples were collected from a depth of 30cm, sieved, the -2mm fraction bagged in a numbered calico and the +2mm coarse material discarded. The location of sample sites were recorded by handheld GPS. |
| Drilling techniques | Not applicable as no drilling was undertaken. |
| Drill sample recovery | Not applicable as no drilling was undertaken. |
| Logging | Regolith and lithology descriptions were recorded for each soil sample location along with a unique sample number and the coordinates for each sample site. |
| Sub-sampling techniques and sample preparation |
No sub-sampling of the rock chip samples was undertaken. |
| Quality of assay data and laboratory tests |
No field blanks, field standards or field duplicates were submitted for assay. The samples were assayed at ALS laboratories in Perth. ALS are an accredited and recognised laboratory for this type of routine analysis and conduct appropriate QAQC samples as part of their standard assaying techniques. The main sample preparation and analysis steps were as follows: Lab. Code CRU-31L: Pulverize split of up to 250g to better than 85% passing minus 75 micron. Soil specific. No QC reported. Lab. Code ME-ICP89: Na2O2peroxide fusion - Analysis of various elements by ICP-AES after Sodium Peroxide Fusion. This procedure is ideal for the determination intermediate and ore grade lithium and associated whole rock elements in hard rock lithium settings. Lab. code ME-MS91: Selected element determination by Sodium Peroxide Fusion and Dissolution followed by ICP-MS analysis. |
12
==> picture [56 x 38] intentionally omitted <==
| Verification of sampling and assaying |
Sampling was undertaken by a suitably qualified geologist and assaying quality was checked using internal laboratory standards reported to WSR. |
| Location of data points | GPS co-ordinates for each site were collected using a handheld GPS. Datum: UTM GDA94, Grid: MGA Zone 50K |
| Data spacing and distribution | Soil samples were collected at 20m intervals on east-west orientated survey lines. |
| Orientation of data in relation to geological structure |
Not relevant for rock chip sampling. |
| Sample security | Samples were collected on site and transported in a single batch by Westar Resources employees to the Westar office in Perth. Samples were received by a Westar Geologist for sample photographs and to verify sample numbers and packaging before being transported by Westar’s Managing Director to the assay laboratory. |
| Audits or reviews | Data interpretation is ongoing. |
Olga Rocks Project – Soil Sampling
JORC Code, 2012 Edition – Table 1 report
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
| Criteria | Commentary | |
| Mineral tenement and land tenure status |
Exploration reported was conducted on tenements P77/4271, which is 100% owned by Lithium Energy Pty Ltd, a subsidiary of Westar Resources Limited. The Olga Rocks Project is located approximately 70km south of Southern Cross in Western Australia. The tenement is current and in good standing with the Department of Mines, Industry Regulation and Safety (DMIRS) of Western Australia. |
|
| Exploration done by other parties |
Previous exploration has been undertaken by companies including Sons of Gwalia and Polaris as part of Joint Venture arrangements. All work is considered historical in nature and completed on local grids. |
|
| Geology | The Olga Rocks Project lies within the Southern Cross Greenstone Belt, which forms a lensed, broadly sinusoidal belt measuring some 250 km in length and 50 km in width. It is dominated by volcanic and sedimentary sequences and surrounded by intrusive granitoids, which contain rafts of greenstone. The margins of the belt are typically dominated by contact-metamorphosed basalts and banded iron formations (BIF). |
|
| Drill hole Information | Historical drilling of holes by RAB and RC methods was done by previous companies publicly listed on the ASX. The historical drilling data are publicly available on the DMIRS |
13
==> picture [56 x 38] intentionally omitted <==
| WAMEX system. Further work is required to fully validate the open file drill hole information. |
|
| Data aggregation methods | There has been no data aggregation. |
| Relationship between mineralisation widths and intercept widths |
No relationship between mineralisation widths and intercept widths have been established with the limited historical exploration data available. There is insufficient drilling to confidently interpret the orientation of a potential mineralized zone. |
| Diagrams | Suitable maps are included in the body of the announcement. |
| Balanced reporting | Key results and conclusions have been included in the body of the announcement. Soil assays are included in the Appendix. |
| Other substantive exploration data |
Open file historical drilling and sampling data over several areas of the Project is publicly available on the DMIRS WAMEX system. Compilation of this data is ongoing including the validation of local grids used in exploration reports by previous explorers. |
| Further work | Westar intends to progress exploration activities at Olga Rocks to advance both the lithium-cesium-tantalum pegmatite and gold targets. Upcoming field activities include evaluation of current rock chips, additional mapping, rock chip sampling and soil sampling and the re-processing of geophysics data before target definition, ranking and design of a maiden drilling campaign. |
14
APPENDIX 1 – Rock chip samples
| Sample ID |
Easting MGA |
Northing MGA |
Type | Li **ppm ** |
Cs **ppm ** |
Ta **ppm ** |
Rb **ppm ** |
Sn **ppm ** |
Nb **ppm ** |
K % |
Be **ppm ** |
Y **ppm ** |
U **ppm ** |
Th **ppm ** |
Au **ppm ** |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ORK0010 | 744700 | 6487257 | Rockchip | 83.3 | 0.38 | 0.025 | 0.9 | 0.2 | 0.05 | 0.01 | 0.3 | 0.05 | 0.05 | 0.01 | 0.002 |
| ORK0011 | 744706 | 6487258 | Rockchip | 89 | 0.13 | 0.025 | 0.3 | 0.2 | 0.05 | 0.005 | 0.24 | 0.05 | 0.05 | 0.01 | 0.001 |
| ORK0012 | 744685 | 6487270 | Rockchip | 31.8 | 0.17 | 0.025 | 2.2 | 0.2 | 0.2 | 0.01 | 0.18 | 0.1 | 0.05 | 0.04 | 0.0005 |
| ORK0013 | 744681 | 6487271 | Rockchip | 10.6 | 39.9 | 0.54 | 1045 | 1.4 | 2.1 | 6.84 | 1.14 | 2.8 | 0.1 | 0.28 | 0.002 |
| ORK0014 | 744690 | 6487270 | Rockchip | 10.9 | 10.4 | 0.69 | 556 | 1.1 | 2.1 | 5.32 | 0.87 | 3.9 | 0.2 | 1.17 | 0.033 |
| ORK0015 | 744712 | 6487254 | Rockchip | 46.5 | 0.64 | 0.025 | 2.5 | 0.2 | 0.4 | 0.02 | 0.35 | 0.1 | 0.05 | 0.05 | 0.046 |
| ORK0016 | 744709 | 6487259 | Rockchip | 259 | 22.8 | 17.1 | 807 | 34.5 | 153.5 | 3.86 | 3.88 | 2 | 0.8 | 1.27 | 0.115 |
| ORK0017 | 744709 | 6487258 | Rockchip | 41.6 | 4.65 | 4.24 | 159.5 | 5 | 37.3 | 0.81 | 0.79 | 6.1 | 0.8 | 0.83 | 0.049 |
| ORK0018 | 744697 | 6487204 | Rockchip | 8.2 | 0.09 | 0.025 | 2.1 | 0.1 | 0.1 | 0.02 | 0.025 | 0.1 | 0.05 | 0.03 | 0.024 |
| ORK0019 | 744705 | 6487188 | Rockchip | 23.6 | 0.21 | 0.025 | 3.2 | 0.2 | 0.1 | 0.03 | 0.09 | 0.1 | 0.05 | 0.02 | 0.001 |
| ORK0020 | 744717 | 6487160 | Rockchip | 27.6 | 0.27 | 0.025 | 0.6 | 0.2 | 0.1 | 0.01 | 0.11 | 0.05 | 0.05 | 0.01 | 0.001 |
| ORK0021 | 744728 | 6487161 | Rockchip | 12.8 | 0.27 | 0.08 | 2.4 | 0.1 | 0.3 | 0.02 | 0.08 | 0.05 | 0.05 | 0.02 | 0.001 |
| ORK0022 | 744635 | 6487435 | Rockchip | 20.9 | 0.29 | 0.11 | 1.2 | 0.2 | 0.1 | 0.01 | 0.64 | 0.1 | 0.05 | 0.1 | 0.0005 |
| ORK0023 | 744641 | 6487433 | Rockchip | 19.2 | 0.33 | 0.025 | 6.4 | 0.2 | 0.2 | 0.05 | 0.35 | 0.2 | 0.05 | 0.13 | 0.0005 |
| ORK0024 | 744646 | 6487429 | Rockchip | 12.1 | 0.64 | 0.07 | 20 | 0.2 | 0.5 | 0.12 | 0.33 | 0.4 | 0.05 | 0.26 | 0.0005 |
| ORK0025 | 744648 | 6487427 | Rockchip | 24.1 | 7.88 | 9.08 | 62 | 2.6 | 45 | 0.25 | 1.5 | 3.7 | 1.1 | 4.84 | 0.004 |
| ORK0026 | 744653 | 6487427 | Rockchip | 21.1 | 7.33 | 5.37 | 58.1 | 3 | 23.6 | 0.31 | 1.64 | 2.7 | 0.7 | 4.81 | 0.007 |
| ORK0027 | 744274 | 6487169 | Rockchip | 16.7 | 2.46 | 0.9 | 20.3 | 0.5 | 2 | 0.36 | 5.28 | 1.2 | 1.3 | 1.07 | 0.002 |
| ORK0028 | 744278 | 6487166 | Rockchip | 12.3 | 61.4 | 0.6 | 1280 | 0.9 | 1.7 | 7.43 | 2.62 | 0.5 | 0.1 | 0.26 | 0.003 |
| ORK0029 | 744382 | 6486882 | Rockchip | 21.4 | 107.5 | 20.6 | 937 | 5.9 | 82 | 4.92 | 22.5 | 1.3 | 0.4 | 1.36 | 0.002 |
| ORK0030 | 744378 | 6486884 | Rockchip | 23.3 | 23.4 | 3.67 | 717 | 3.3 | 30.2 | 4.05 | 4.33 | 0.7 | 0.2 | 1.87 | 0.005 |
| ORK0031 | 744377 | 6486894 | Rockchip | 11.6 | 15.7 | 14.15 | 231 | 2.4 | 36.6 | 1.5 | 6.65 | 1.6 | 0.9 | 1.61 | 0.007 |
| ORK0032 | 744382 | 6486894 | Rockchip | 12.8 | 2.99 | 2.34 | 18.5 | 0.5 | 5.7 | 0.11 | 4.46 | 0.4 | 0.1 | 0.19 | 0.341 |
| ORK0033 | 744377 | 6486899 | Rockchip | 30.8 | 24.9 | 8.79 | 349 | 9.9 | 55.2 | 2.1 | 4.75 | 0.9 | 0.4 | 0.67 | 0.002 |
15
APPENDIX 2 – Soil samples: -2mm Fraction
| Sample ID |
Easting MGA |
Northing MGA |
Type | Li **ppm ** |
Cs **ppm ** |
Ta **ppm ** |
Rb **ppm ** |
Sn **ppm ** |
Nb **ppm ** |
K % |
Be **ppm ** |
Y **ppm ** |
U **ppm ** |
Th **ppm ** |
Au **ppm ** |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ORK0034 | 744607 | 6487263 | Soil | 15.9 | 1.12 | 0.29 | 19.7 | 0.6 | 3.6 | 0.51 | 0.62 | 10.8 | 0.6 | 3.89 | 0.019 |
| ORK0035 | 744628 | 6487260 | Soil | 14.7 | 1.17 | 0.46 | 21.7 | 0.6 | 4.1 | 0.51 | 0.57 | 10.4 | 0.7 | 3.76 | 0.025 |
| ORK0036 | 744648 | 6487262 | Soil | 19 | 1.9 | 0.46 | 27.3 | 0.8 | 4.3 | 0.55 | 0.83 | 13.4 | 0.5 | 4.86 | 0.019 |
| ORK0037 | 744673 | 6487261 | Soil | 18.4 | 2.68 | 0.52 | 44.2 | 0.9 | 4.8 | 0.64 | 0.8 | 10.1 | 0.5 | 4.1 | 0.016 |
| ORK0038 | 744690 | 6487262 | Soil | 57.5 | 12.7 | 2.62 | 236 | 6.1 | 24.3 | 1.66 | 1.34 | 8.5 | 0.7 | 4.29 | 0.042 |
| ORK0039 | 744713 | 6487263 | Soil | 22.8 | 4.42 | 0.68 | 87.3 | 1.5 | 6.7 | 0.91 | 1.22 | 8.1 | 0.9 | 3.58 | 0.014 |
| ORK0040 | 744739 | 6487258 | Soil | 16.3 | 4.09 | 0.47 | 39.8 | 0.7 | 4.3 | 0.56 | 0.67 | 8.5 | 0.7 | 2.63 | 0.011 |
| ORK0041 | 744760 | 6487256 | Soil | 14.1 | 2.09 | 0.31 | 29.2 | 0.6 | 3.2 | 0.45 | 0.64 | 11 | 0.5 | 2.82 | 0.013 |
16