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Western Gold Exploration Ltd. ( (TSE:WGLD) ) just unveiled an update.
Western Gold Exploration has received and reviewed historic exploration data for its Lyon licence application area, part of the Glen Lyon joint venture within the Caledonian Gold Project in central Scotland. The data, largely from work by Ennex International and Scotgold Resources, show multiple high-grade gold-bearing veins, with float samples assaying up to 136.3 g/t gold and outcrop grab samples up to 62.4 g/t gold, alongside visible gold in stream concentrates and backpack drilling that confirms continuity of mineralised structures from surface.
The historic work was concentrated in the western portion of the Lyon area, leaving roughly 150 square kilometres of prospective ground underexplored and providing immediate upside for further discovery. Positioned along the same mineralised belt as Scotland’s Cononish mine and major Irish deposits such as Curraghinalt, the results bolster the company’s geological model and support advancing systematic soil sampling, mapping and geophysics, potentially enhancing Western Gold Exploration’s project pipeline and strategic standing in the emerging Scottish gold district.
More about Western Gold Exploration Ltd.
Western Gold Exploration Ltd. is a mineral exploration company focused on gold, silver and critical minerals in Scotland’s Caledonian mineral belt. Through its Glen Lyon joint venture with Acrux Gold, operator of the nearby Cononish gold mine, the company is targeting high-potential ground within the Grampian Terrane at the Caledonian Gold Project.
Average Trading Volume: 27,278
Technical Sentiment Signal: Sell
Current Market Cap: C$9.35M
For a thorough assessment of WGLD stock, go to TipRanks’ Stock Analysis page.