Westar Uncovers Intriguing Mo-Bi-W Anomalies at Mageye Prospect

Exploration Highlights at Mageye

Westar Resources Limited (ASX, WSR) has reported its June 2025 quarter activities, spotlighting the Mageye prospect within its Gidgee North Project in Western Australia’s Murchison region. Two reverse circulation (RC) drill holes targeting coincident magnetic and gravity anomalies returned no gold or copper mineralisation but revealed strongly anomalous molybdenum (Mo), bismuth (Bi), and tungsten (W) values. The peak assays reached 985ppm Mo, 858ppm Bi, and 98ppm W, suggesting the presence of a high-temperature magmatic system beneath transported cover.

Strategic Data Review and Next Steps

These findings have prompted Westar to engage consultants to review the multi-element chemistry and hyperspectral mineralogy data from the drill chips. Magnetic susceptibility measurements indicate the drill holes may not have fully intersected the magnetic source, leaving open the possibility of deeper or more complex mineralisation. The company is carefully considering the next phase of exploration at Mageye, balancing the potential of this magmatic signature against the absence of immediate gold or copper results.

Regional Exploration and Project Portfolio

Beyond Mageye, Westar has completed a thorough review of historical exploration data across the broader Gidgee North Project. This assessment highlighted gaps in earlier sampling and analytical methods, particularly regarding pathfinder elements critical to orogenic gold discovery. The company is developing new regolith-landform maps to guide targeted surface sampling and air core drilling, aiming to leverage modern techniques to unlock overlooked opportunities.

Meanwhile, the Mt Finnerty Project joint venture with Ramelius Resources remains active, although planned drilling programs are on hold pending completion of heritage surveys with the Marlinyu Ghoorlie Native Title Claimant Group. Westar holds a 25% free-carried interest in this project, which has seen promising high-grade gold intercepts under Ramelius’ stewardship.

Project Rationalisation and Financial Position

Westar has relinquished the Mindoolah Project after drilling failed to identify commercially viable gold mineralisation. The company completed rehabilitation work and regulatory reporting for the project during the quarter. Financially, Westar ended June 2025 with $1.2 million in cash reserves, supporting ongoing exploration activities. Net cash expenditure rose 25% to $359,000, reflecting increased drilling and due diligence on potential new projects. Despite assessing numerous opportunities, no new projects met Westar’s criteria this quarter, but the search continues.

Additionally, Westar divested its remaining listed shareholdings, generating $130,000 in proceeds, which bolsters its financial flexibility as it advances its exploration agenda.