Australian (ASX) Stock Market Forum

WIN - Widgie Nickel

So the first results of the diamond drilling came in. Management called them strong results and they are do reveal profitable ongoing nickel mining. But IMV there is still a way to go.
SP jumped to giddy heights on release of the report. Now up a modest figure.

Strong Initial Assay Results at Gillett Highlights

• First assay results received from ongoing drilling program with a continuous stream of results to be delivered
• Mineralisation intersected in areas outside of the current resource envelope at the Gillett deposit indicates the resource remains open to the north, south and down dip
• Width and grade of intervals drilled outside the existing Gillett resource indicates growth potential
• Nickel sulphide intercepts of note from reverse circulation (RC) and diamond drilling (DD) include:


8.2 m at 0.54% Ni from 220.8 m and 20 m at 1.42% Ni from 234 m (including 2.2 m at 4.18% Ni from 242.4 m, 1 m at 2.27% Ni from 246.2 m and 5 m at 1.93% Ni from 248 m) in MERC143 (DD) o

16 m at 1.79% Ni from 277.1 m (including 4 m at 3.10% Ni from 280 m) and 5.9 m at 2.16% Ni from 287.2 m in MERC144 (DD) o

.8 m at 1.84% Ni from 330.5 m and 4.4 m at 1.97% Ni from 334 m in MERC145 (DD) o 3.5 m at 1.11% Ni from 244.1 m (including 0.7 m at 3.44% Ni from 244.1 m) and 8.6 m at 1.08% Ni from 269.6 m including 2 m at 1.63% Ni from 275.1 m in MERC134 (DD) o

3 m at 1.43% Ni from 136 m (including 2 m @ 1.69% Ni from 137 m) and 3 m @ 1.02% Ni from 164 m in MERC132 (RC) o 1.1 m at 1.9% Ni including 0.1 m at 4.33% Ni from 360.9 m in MERC129 (DD) o

1 m at 1.38% Ni from 184 m in MERC130 (RC) o 8 m at 1.16% Ni from 274 m including 3 m at 1.95% Ni from 278m in MERC137 (DD

Strong Initial Assay Results at Gillett
 
WIN has fallen back since the release of the first drilling results at the start of the month. However this morning in a falling market there seems to be some strong buying. Up 12%. Suggests some new drilling results around the corner.

Might even have some decent results .:cautious:
 
WIN has announced new mineralisation around it's drilling sites. Be interesting to see how drills in June come up.

Exploration drilling discovers new mineralisation at Gillett North
Highlights


• Gillett North drilling intercepts multiple broad zones of mineralisation in first hole
• First brownfields exploration drilling generates immediate success, initial drilling potentially extending mineralisation at Gillett up to 300 metres to the north-west along strike
• Massive and semi-massive nickel sulphides intersected approximately 200 metres below surface in a blind position

 
Trading halt today ahead of announcement of new results from Gillett North drilling on Monday

No movement before the announcement so either their security is excellent or maybe it will be "meh" results. In any case given the current market sentiment I would be surprised at any significant jump.
 
Results have come in from recent drilling. Out of left field really.
WIN has discovered High Grade Lithium in the Mt Edwards exploration tenements. Certainly opens up a new quiver of arrows to their bow.

High Grade Lithium Discovery at Mt Edwards


Highlights
• Rock chip sampling at the newly named “Faraday prospect” has identified high-grade lithium bearing pegmatites outcropping over a 600m strike with surface expressions up to 25 metres wide.
• Visible spodumene identified at several locations with multiple high-grade Li2O values returned from 14 rock chip samples. Higher values of note include;

 S10013 - 2.61% Li2O
 S10014 - 3.70% Li2O
 S10015 - 2.86% Li2O
 S10017 - 3.60% Li2O
 S10019 - 2.91% Li2O
 S10021 - 3.04% Li2O
 S10025 – 2.73% Li2O

• Spodumene is the dominant lithium mineral observed at the Faraday prospect.
• Significant potential to extend strike to the north under transported cover.
• Multiple pegmatite occurrences observed across broader Widgie tenure.
• Field work to commence immediately to drill test high-priority targets at the Faraday prospect as well as detailed mapping, soil and rock chip sampling across the Widgie tenure.

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High Grade Lithium Discovery at Mt Edwards (PDF 2,094.0 KB)
 
"The Market giveth and the Market takes it away."

So WIN releases a very encouraging set of results on the discovery of Lithium on it's Mt Edwards tenements.
SP opens at 34c- 11.5c up on the previous close of 23.5. A few more punters jump in and the SP reaches 35.5 in the next minute.

And then its all down hill.
WIN closes 1c up on the day. At this rate I reckon tomorrow it should test 20c :rolleyes:
 
The punters are off again on WIN. Has jumped to 39c from mid 20's less than two weeks ago. Whether it's in advance of some very favourable drill results or just clear eyed recognition of what has been found to date ... who knows..
 
Reminds me of another company - RAG - who was originally a nickel explorer turned lithium tenement purchaser. Their share price ran up on the speculation but then nose dived when it was discovered those tenements would no longer be purchased.
 
I do hold, as it was a freebee spin out, you seem to have the gist.
If they strike a high yeilding target, they are very close to current producers, so have plenty of upside.
If their drilling turns up poor results, welll.
 
Upgrade on Armstrong Nickel drilling. Market response has been strong.

Upgrade to Armstrong Mineral Resource
Highlights

• Infill drilling has successfully confirmed robustness of the mineralisation interpretation and estimation

• Indicated Resources increased to 630kt @ 1.8% Ni for 11,500t Ni, with 98% of the resource now within the higher confidence Indicated category (previously 83%)

• New resource now quantifies Palladium + Platinum + Gold (3E) endowment with Au (0.2g/t), Pd (0.4g/t) and Pt (0.2g/t) = 0.8g/t 3E. (contained metal equating to 4,100oz Au, 8,300oz Pd and 4,100oz Pt)

• Strategy continues to build shareholder value at Mt Edwards, by defining higher grade mineralisation within the existing inventory, leading to evaluation and development of a pipeline of nickel sulphide development opportunities

Managing Director and CEO Mr Steve Norregaard commented “With 98% of the Resource now in Indicated Resource category this further reinforces the robustness of the recently completed Scoping Study outcomes. Combined with the recent strength in the Nickel price this makes Armstrong a compelling low cost mine development opportunity for Widgie. One which we will continue to push forward to develop in the near term.

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Upgrade to Armstrong Mineral Resource (PDF 2,758.3 KB)
 
Trading halt ahead of exploration results on Faraday Lithium Project.

WIN has had a strong run over the past couple of weeks. Be interesting to see if the the Lithium exploration results reinforce that trend.
 
Well, that was disappointing.

"Assays confirm high grade lithium discovery at Faraday" states the news headline.

The market didn't think so and WIN ends down 33% at EOW.
 
I'm still in WIN for 2023. stock comp.

I think their nickel exploration and upgrading of resources will prove successful in 2023.

Upgrade to Armstrong Mineral Resource
Highlights

• Infill drilling has successfully confirmed robustness of the mineralisation interpretation and estimation

• Indicated Resources increased to 630kt @ 1.8% Ni for 11,500t Ni, with 98% of the resource now within the higher confidence Indicated category (previously 83%)

• New resource now quantifies Palladium + Platinum + Gold (3E) endowment with Au (0.2g/t), Pd (0.4g/t) and Pt (0.2g/t) = 0.8g/t 3E. (contained metal equating to 4,100oz Au, 8,300oz Pd and 4,100oz Pt)

• Strategy continues to build shareholder value at Mt Edwards, by defining higher grade mineralisation within the existing inventory, leading to evaluation and development of a pipeline of nickel sulphide development opportunities

Managing Director and CEO Mr Steve Norregaard commented “With 98% of the Resource now in Indicated Resource category this further reinforces the robustness of the recently completed Scoping Study outcomes. Combined with the recent strength in the Nickel price this makes Armstrong a compelling low cost mine development opportunity for Widgie. One which we will continue to push forward to develop in the near term.
 
Gillett Mineral Resource Expands in Size and Confidence, with Further Near-Term Growth Potential

Highlights
• Gillett deposit Mineral Resource expanded by 20% to 1.56 million tonnes at 1.5% nickel for 23,400 tonnes contained nickel between 80 and 350 metres below surface

• 60% of Gillett mineral resource upgraded to the higher confidence Indicated category

• Resource now quantifies Palladium + Platinum endowment with Pd (0.17g/t) and Pt (0.08g/t) (contained metal equating to 8,515oz Pd and 4,007oz Pt)

• Significant opportunity for further Resource growth through extension and connection with the Gillett North discovery
• Widgie South comprising Widgie 3, Gillett and Widgie Townsite now ready for technical evaluation aiming to become the Company’s second major nickel production centre


Managing Director and CEO Mr Steve Norregaard commented:
“Whilst only a snapshot in time with work ongoing, this is a great outcome to see the lion’s share of the Gillett resource now fall into a higher confidence level of Indicated with plenty of further resource growth on the horizon as drilling on Gillett North progressively expands the mineralisation footprint.

We can now begin to put a plan around the 70kt Widgie South project area with a much higher degree of confidence, further extending what is shaping up to be a very bright, long term nickel mining future”.

 
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