Dynamic lands 65 ounce to the tonne gold rock chip at Widgie

Dynamic Metals has landed a suite of uber-high grade rock chip samples at its Cognac West prospect at its Widgiemooltha project in WA, headlined by a stunning 2040 gram per tonne rock chip - the equivalent of 65 ounces per tonne. Other high-grade results include 53.1g/t gold, 5.91g/t and 8.95g/t gold. In total 39 samples showed high grade gold, cementing Cognac West as an immediate priority for Dynamic.

The latest rock chip discoveries follow the previous discovery of gold in soil samples at Cognac West going 0.22 g/t gold, 0.49 g/t and a solid 2.1 g/t gold.

Dynamic is sitting on 30-plus exploration leases scattered across the lucrative Kambalda-Norseman mineral terrain that are either granted or pending and the company says Cognac West is rapidly making its way to the top of the pile.

Further infill soil sampling is currently underway at the prospect on 100m spaced lines with 25m between samples and management says those results that will assist in setting drill targets will be available next month.

One of the best pathfinders for gold is the presence of gold itself and it would appear we have exceptional potential for further discoveries at our aptly named Goldrush tenement. The area now has multiple indicators pointing to potential significant gold mineralisation at a time when the gold price has hit $4,000/oz, including our large soil anomalies, these latest rock chip sample results and recent gold finds reported by prospectors. We are extremely optimistic and excited about our ongoing exploration activities at Cognac West, with infill soil sampling currently underway to inform our drill target definition for testing in early 2025.

While near surface exploration at the Cognac West prospect area is not new, insufficient soil sampling and only shallow drilling dating back to the 1970s were undertaken. However, Dynamic renewed its interest in the area following a peak historic drill hole from the 1990s of 1m at 91.3g/t from 41m.

Following its desktop studies, Dynamic then commenced a soil sampling program across a 3km-by-2km area. Samples were collected along 50m-by-200m-spaced lines, targeting structural faults near a volcanic intrusion west of the Republican Thrust – the major controlling structure in the area.

A total of 704 samples were analysed for gold and other elements, with two key anomalous areas of more than 0.025 parts per million gold identified. Additional soil and rock-chip sampling work was then completed on the strength of the initial findings.

Dynamic’s stock was up almost 13 per cent at one point in early afternoon trading as punters tried to work out the significance of the newly discovered high grade rock chips.

With a recent injection of $4 million from farming out 40 per cent of its lithium rights at the Widgiemooltha project to joint venture partner Mineral Resources contributing to its $5.3m pile of cash at last report, if there is any gold lurking below those rock chips, chances are Dynamic has enough cash now to find it.

Is your ASX-listed company doing something interesting? Contact: matt.birney@wanews.com.au