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WIN - Widgie Nickel

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Widgie Nickel Limited is a mineral exploration company, established to implement the demerger currently being undertaken by Neometals, with the purpose of maximising value for the Mt Edwards Nickel Project.

Since its acquisition in 2018, Neometals has reviewed and advanced the Mineral Resources at the Mt Edwards Project to provide a sound basis for mining studies to evaluate the development of a number of short lead-time nickel sulphide deposits. These have now progressed to the point where it has determined that the best outcome for shareholders is that a new, independent entity be established to devote the technical, human and financial resources that the Mt Edwards Project deserves.

As an independent entity with dedicated technical, human and financial resources Widgie Nickel intends to build on the work completed to the Mt Edwards Project which provide a sound basis for mining studies to evaluate the development of a number of short lead-time nickel sulphide deposits.

It is anticipated that WIN will list on the ASX during September 2021.

 

Dona Ferentes

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Listing date22 September 2021 11:30AM AEST ##
Company contact detailshttps://www.widgienickel.com.au/site/content/
Ph: +61 8 9322 1182
Principal ActivitiesNickel exploration and development
GICS industry groupTBA
Issue PriceN/A
Issue TypeOrdinary Fully Paid Shares
Security codeWIN
Capital to be RaisedN/A
Expected offer close dateN/A
UnderwriterFully underwritten. Euroz Hartleys Limited (Underwriter and Lead Manager)


Neometals confirms that it has distributed the Widgie Nickel shares to eligible Neometals shareholders, pro rata to their shareholding in Neometals on the record date of 24 August 2021 and Widgie Nickel has advised Neometals of the Widgie Nickel fully underwritten entitlement offer to raise $24 million.
 
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They didn't waste any time with Drill announcements. First one with the stand alone company looks very promising.


Thick massive nickel sulphide drilling intersections confirm high grade nature of mineralisation at Munda Highlights

• Drilling targeting gold mineralisation intersects thick massive nickel sulphides o 24m @ 3.22% Nickel, 0.20% Copper, 0.53 g/t Palladium and 0.26 g/t Platinum from 52m;

including o 16m @ 4.58% Nickel, 0.29% Copper, 0.76 g/t Palladium and 0.38 g/t Platinum from 59m

Result illustrates the potential to identify additional high-grade pods within the existing Munda Mineral Resource • Widgie to commence nickel focussed drilling campaign, including drilling at Munda, in the coming month Widgie Nickel Limited (ASX:WIN) (“Widgie” or “the Company”) is pleased to report the assay results from drilling carried out at Widgie’s Munda deposit by Auric Mining Ltd (ASX:AWJ) (“Auric”), which has returned thick massive nickel sulphide intersections at Munda.

Widgie Managing Director Steve Norregaard said that the drilling intersections were a significant first result for Widgie, particularly considering the purpose of the drilling was primarily targeting gold and undertaken by Auric. “We are very happy with this great result, as it further reinforces the high-grade nature of Munda, the presence of potentially important by-product credits such as copper and platinum group elements, and clearly illustrates that the process of infill drilling at the Munda deposit has the potential to identify additional localised high grade pods.” “Now that Widgie has been established as a standalone nickel focussed company in a great location, and with substantial cash in the bank, we are all very much looking forward to new exploration results from our planned drill programs. We kick off our maiden drilling program in the next month, which will be very much targeted towards nickel and associated by-products.” Munda Geology and Geological Interpretation

 
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Widgie maiden drilling program set to commence

Highlights •

. Widgie Nickel Ltd maiden drilling program scheduled to commence in early November 2021

• Program primarily focused on the extension of mineralisation at the Gillett Resource

• New Gillett West basal contact identified as additional high-priority target for new nickel mineralisation in addition to existing resources

Widgie Nickel Limited (ASX:WIN, “Widgie” or “the Company”) is pleased to provide an update on the upcoming maiden drilling program at the Mt Edwards Nickel Project in Western Australia. Widgie has appointed Kalgoorlie-based Challenge Drilling Limited for its Reverse Circulation (RC) drilling program. The Company’s initial focus will be in the Widgie South area, located on the northeast margin of the Widgiemooltha Dome (Figure 1), host to the Widgie Townsite, Widgie 3 and Gillett Mineral Resources. The initial program targets extensional opportunities at Gillett, to both the Mineral Resource and to recently identified new basal contact targets.

 
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