Norwest Faces Funding Challenge Amid Ambitious West Arunta and Bulgera Drilling Plans
Norwest Minerals reports significant silver, lead, zinc, and copper intersections at its West Arunta project, while advancing gold exploration at Bulgera and planning further drilling campaigns.
- Strong silver-lead-zinc-copper mineralisation intersected at West Arunta's Dales Gossan
- Induced polarization geophysical survey planned to refine West Arunta targets
- Bulgera Gold Project resource stands at 6.3Mt grading 1.07g/t Au with multiple lodes identified
- Positive progress on Bulgera Mining Lease application with native title group
- Company holds $770,295 cash and secured WA government co-funding for exploration
West Arunta Project: Promising Base and Precious Metals
Norwest Minerals Limited (ASX: NWM) has delivered a compelling update on its West Arunta project, reporting wide zones of silver, lead, zinc, and copper mineralisation from reconnaissance drilling at the Dales Gossan prospect. Seven slim line reverse circulation (SLRC) holes intersected significant intervals, including up to 43m at 22g/t silver and 36m at 1.3% zinc, with mineralisation intensifying at depth within a vertical fault breccia zone along the regional Sandman fault.
The multi-element assay results suggest a complex, multi-stage mineralisation system, potentially indicative of a Volcanogenic Massive Sulphide (VMS) deposit. Norwest is poised to deploy a 1.2 km induced polarization (IP) geophysical survey designed to detect mineralisation lenses and alteration halos, aiming to refine drill targets along the Sandman fault corridor.
Bulgera Gold Project: Resource Growth and Lease Progress
At the Bulgera Gold Project, Norwest is advancing plans to expand its JORC-compliant oxide gold resource, currently estimated at 6.3 million tonnes grading 1.07 g/t gold for 217,500 ounces. The company is preparing drill programs to test six identified gold lodes extending below shallow oxide pits, with historical drilling confirming high-grade intersections down to 550 metres and open at depth.
Importantly, discussions with the Marputu Native Title Group and pastoralists regarding the granting of the Bulgera Mining Lease are progressing well, with the lease expected to be awarded by mid-2025. This milestone would enable Norwest to accelerate exploration and development activities in a region known for its proximity to the Plutonic Well mafic-ultramafic gold mine sequence.
Marymia East and Bali Copper Projects: Early-Stage Exploration
Norwest's Marymia East project continues to show promise with anomalous copper and zinc values detected from recent rock chip sampling. The company has scheduled aircore drilling in 2025 to test two key base metal targets within the Baumgarten Greenstone Belt, aiming to delineate potential copper-zinc mineralisation.
Meanwhile, at the Bali Copper Project, recent drilling confirmed narrow zones of oxide copper mineralisation along newly identified vein structures, including the V6 'conglomerate' target. Norwest plans further RC drilling in 2025 to test high-grade copper-gold veins, building on encouraging rock chip results that include grades exceeding 30% copper in some samples.
Financial Position and Outlook
As of 31 December 2024, Norwest held $770,295 in cash. The company benefited from a successful application to the Western Australian Government's Exploration Incentive Scheme, securing co-funding of up to $180,000 for drilling at West Arunta. While recent exploration expenditures have been significant, Norwest is evaluating assay results before committing to further activities and anticipates raising additional capital to sustain its exploration momentum.
Norwest's diversified portfolio across critical minerals, precious metals, and base metals, combined with strategic government support and advancing tenure, positions it well to unlock value in Western Australia's prolific mineral provinces.
Bottom Line?
Norwest's upcoming assay results and mining lease approvals will be pivotal in shaping its exploration trajectory and capital strategy.
Questions in the middle?
- Will the pending assay results from Tamba, Malibu, and Duck targets confirm further high-grade mineralisation?
- How soon will the Bulgera Mining Lease be granted, and what impact will it have on project development timelines?
- What are Norwest's plans for capital raising to fund ongoing and expanded exploration programs?
