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The latest announcement is out from Western Mines Group Ltd ( (AU:WMG) ).
Western Mines Group has reported new geochemical assay results from three Phase 4 reverse circulation drill holes at its Mulga Tank Project in Western Australia, confirming broad zones of nickel sulphide mineralisation with elevated copper and platinum group elements. The standout MTRC069 hole delivered 225m at 0.32% nickel, including a high‑grade interval of 4m at 2.17% nickel and 1m at 4.35% nickel, marking the project’s second highest nickel grade and defining a new priority area for follow‑up drilling.
The results from MTRC068, MTRC069 and MTRC071 support the company’s strategy of infill and step‑out drilling to increase resource confidence and extend mineralisation south of the current resource area. Despite weather‑related access issues and fuel constraints that have slowed drilling and prompted a shift from RC to diamond drilling, crews remain on site and the strong intercepts enhance the project’s exploration upside and potential value for shareholders.
The most recent analyst rating on (AU:WMG) stock is a Sell with a A$0.17 price target. To see the full list of analyst forecasts on Western Mines Group Ltd stock, see the AU:WMG Stock Forecast page.
More about Western Mines Group Ltd
Western Mines Group Ltd is an Australian mineral exploration company focused on nickel sulphide discoveries in Western Australia’s Eastern Goldfields. Its flagship Mulga Tank Project, located on the Minigwal Greenstone Belt, targets large-scale nickel, copper and platinum group element systems to build a significant base metals resource portfolio.
Average Trading Volume: 167,309
Technical Sentiment Signal: Sell
Current Market Cap: A$20.47M
For a thorough assessment of WMG stock, go to TipRanks’ Stock Analysis page.