{"id":8279,"date":"2024-04-10T03:18:50","date_gmt":"2024-04-10T03:18:50","guid":{"rendered":"https:\/\/economicherald.net\/?p=8279"},"modified":"2024-04-10T03:18:50","modified_gmt":"2024-04-10T03:18:50","slug":"norwest-is-hunting-monsters-near-wa1-resources-which-is-up-10400-in-less-than-two-years","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8279","title":{"rendered":"Norwest is hunting monsters near WA1 Resources, which is up 10,400% in less than two years"},"content":{"rendered":"<p>Norwest Minerals is starting to close in on drilling targets following gravity surveys and soil samples<br \/>\nThe company is exploring near WA1 Resources which has sealed the impressive Luni niobium discovery<br \/>\nWestern Australia\u2019s West Arunta region continues to impress<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special Report<\/em><\/strong><strong>:\u00a0One gravity survey and over 13,000 soil samples later, Norwest Minerals is homing in on some juicy drill targets in the same rocks as WA1 Resources\u2019 mammoth Luni niobium discovery.<\/strong><\/p>\n<p>In 2022, WA1 hit thick, high-grade niobium in its first hole in the remote, lightly explored, but highly mineralised West Arunta region.<\/p>\n<p>Ongoing drilling success since then means the stock is up a barely believable 10,400%, from 14c to $14.70\/sh. Every. Investor\u2019s. Dream.<\/p>\n<p>The find has also shone the spotlight on other explorers in the area, like <a href=\"https:\/\/stockhead.com.au\/company\/norwest-minerals-nwm\/\"><strong>Norwest Minerals (ASX:NWM)<\/strong><\/a> and its fellow Luni neighbour CGN Resources (ASX:CGR).<\/p>\n<p>Yesterday, CGN caught a rocket after enhancing on some key drill targets with a ground geophysics program, helping to hoist their market cap to $45m.<\/p>\n<p>\u201cWe are in the West Arunta because of the large-scale target potential to produce meaningful discoveries,\u201d CGN managing director Stan Wholley said.<\/p>\n<p>\u201cTheir scale also necessitates us to identify the most compelling parts of the targets as quickly as possible.<\/p>\n<p>\u201cThis is why we have completed detailed ground surveys\u2026so we can follow up and expand on what we find quickly and efficiently.\u201d<\/p>\n<p>Such inviting opportunities lay the groundwork for fellow juniors like Norwest to find their own success.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<h2><strong>Norwest: A $12m capped junior with tier 1 targets<\/strong><\/h2>\n<p>Located to the south of WA1, explorer NWM has a large project called \u2018Arunta West\u2019, where a similar ground gravity survey on tenement E80\/5031 to find IOCG, carbonatite, kimberlite and other critical mineral drill targets has just been finalised.<\/p>\n<p>Ground gravity surveys are low-impact geophysical techniques used by geologists to \u2018see\u2019 features beneath the earth\u2019s surface.<\/p>\n<p>Importantly, NWM says many anomalous pre-processed gravity readings are coincident (occur together) with \u201chigh-priority geochemical and magnetic critical mineral anomalies\u201d.<\/p>\n<p>These 31 anomalies were identified by a recent SGC geophysical study and importantly, are supported by a 13,000 soil sample program completed in 2022.<\/p>\n<p>The chance of finding something significant increases if geophysics and soil sampling are all \u2018saying\u2019 the same thing.<\/p>\n<p>The main area of interest right now is the SE Zone, an 8km x 2km target rich part of tenement E80\/5031 cleared for drilling late last year.<\/p>\n<p>The key targets hosted within the SE Zone are shown on the map below and include:<\/p>\n<p>A 2km x 1km coincident rare earths, lithium and niobium \u201chigh priority\u201d anomaly (geochemical)<br \/>\nA 2km x 2km niobium anomaly (geochemical) covering paleochannel &amp; IOCG magnetic targets<br \/>\nTwo kimberlite\/carbonatite anomalies; one coincident with a priority geochemical target; and,<br \/>\nA significant IOCG target zone with 2 coincident priority 1 geochemical anomalies.<\/p>\n<p>\u00a0<\/p>\n<p>Tenement E80\/5031 showing geology with critical mineral anomalies as identified by geophysical and geochemical studies. Luni high-grade Nb blanket zone displayed for scale-of-target reference. Pic: NWM<\/p>\n<p>\u00a0<\/p>\n<p>Several other coincident geochemical \u2013 geophysical anomalies are present within E80\/5031, NWM says.<\/p>\n<p>Southern Geoscience Consultants (SGC) is currently processing the newly acquired gravity data to refine drill targeting of these high-priority critical mineral anomalies.<\/p>\n<p>\u201cThe new unprocessed gravity readings appear to coincide with many of the critical mineral targets identified via the Company\u2019s recent geophysical and comprehensive geochemical studies,\u201d NWM CEO Charles Schaus says.<\/p>\n<p>\u201cIdentifying potential IOCG, carbonatite, kimberlite and other critical mineral targets for drill testing will be a priority once the gravity processing including 3D work by SGC is finalised.<\/p>\n<p>\u201cFortunately, our critical mineral targets fall within areas that were cleared for drilling late last year.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with Norwest Minerals, a Stockhead advertiser at the time of publishing.<\/em><\/p>\n<p>\u00a0<\/p>\n<p>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/resources\/norwest-minerals-is-hunting-monsters-near-wa1-resources-which-is-up-10400-in-less-than-two-years\/\">Norwest is hunting monsters near WA1 Resources, which is up 10,400% in less than two years<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Norwest Minerals is starting to close in on drilling targets following gravity surveys and soil samples The company is exploring near WA1 Resources which has <a href=\"https:\/\/economicherald.net\/?p=8279\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8280,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - 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