Walkabout Resources (ASX: WKT) has acquired the remaining 25% ownership of JDH Exploration, which holds two Mines Royal Options with the Crown Estate Scotland covering 500 sq. km in Dumfries and Galloway, south-western Scotland.
Highlights
o Walkabout will have 100% ownership over 750 sq. km of highly prospective exploration licences in southwest Scotland.
o The vendor retains no rights over the licence areas with no further milestone payments. o Drilling at Blackcraig is progressing well with six holes completed with first assay results
expected early in 2022.
o Regional project specific soil sampling programmes completed with results expected in early 2022.
The company has acquired the remaining 25% holding in JDH Exploration through the once-off payment of GBP100,000. Following the completion of the deal the vendor will hold no further interest in JDH and will forfeit all further milestone payments as previously reported after the 75% earn-in milestones were reached in March 2021.
The addition of the two JDH Exploration licences (Newton Stewart and St Johns Town of Dalry) to the 100% owned Gatehouse of Fleet licence will give the company a commanding wholly-owned exploration footprint in the region of approximately 750 sq. km.
“The relatively early buy-out of the remaining 25% of JDH Exploration supports the company’s view on the mineral prospectivity of the region. Complete ownership will give the Company much more flexibility and leverage to execute its strategy in the region.”
Scotland Projects,” Walkabout Resources’ CEO, Andrew Cunningham, said.
The JDH Project consists of two licences covering 500 sq. km of highly prospective ground located in southwest Scotland. These areas are known for their historic mining (lead-zinc-silver) but have not undergone any modern systematic mineral exploration since a regional program was conducted by the British Geological Survey (BGS) in the 1980’s when several anomalies were identified in addition to the numerous old mines and historical mineral shows in the region.
A review of historic data and reconnaissance exploration by WKT has identified several prospective areas for both precious and base metals, including two drill-ready projects, with the maiden drilling programme currently underway at Blackcraig.
Blackcraig Lead-Zinc-Silver Project
Historic mining area dating back more than 250 years. Mineralisation occurs in two steeply dipping, sub-parallel veins with historical reports indicating that mineralisation is represented by stringers to massive sulphides up to 18 m wide over a strike extent of 4.5 km.
Prior to the current drilling program, recent exploration over the area includes geological mapping and rock chip sampling, supported by a ground geophysics (magnetic) survey and soil sampling. Rock-chip sampling (float) from spoil heaps around Blackcraig returned assay results of up to 30% Zn, 9.1% Pb, 7.4% Cu and 36.1 g/t Ag.
Glenhead Gold Project
Glenhead Gold Project was identified during the Mineral Reconnaissance Program of the British Geological Survey (BGS) in the 1980’s. Limited, shallow drilling was undertaken by the BGS (Approximately 394 m of diamond drilling over seven holes) primarily targeting outcropping auriferous veins with the best results recorded being approximately 1m @ 5.9 g/t Au, 1m @ 4.6 g/t Au and 4.5m @ 1.5 g/t Au.
Recent exploration over the area included detailed geological and structural mapping and rock-chip sampling and identified the main gold-bearing vein identified by the BGS which returned gold values of up to 12.8 g.t Au (See ASX announcement of 30 June 2020).
Current Work Programmes
Following the commencement of the diamond drilling that started in October at the Blackcraig project, six holes have been completed and samples for the first five holes have been sent to the laboratory in the Republic of Ireland for assaying and the results are expected early 2022.
Drilling is targeting potentially mineralised areas beneath the old underground mine as well as potential parallel structures to the main historical mining trend as identified through geological mapping and a close-spaced ground magnetics survey completed in 2020
The drilling operations are restricted to weekdays between 07:30 and 18:30 and the program is expected to continue into February 2022.
Regional soil sampling (250 by 250 m grid, total of 469 samples) was completed over several key areas along the Talnotry – Greymare’s Tail trend where several historic Pb-Zn trial workings (Au-Ag-Pb-Zn targets) are known located along a regional scale structure, as well as a historic Ni working (Ni-PGE target). The soil sampling covers an area of approximately 24 km2.
A detailed soil grid was undertaken on the Glenhead Gold project covering an area of approximately 0.7 sq. km (50 by 20 m grid, total of 653 samples) to expand the area covered by historic soil grid/ shallow drilling undertaken by the BGS in the 1980’s. Sampling was recently completed and has been sent for analysis. with results expected early in 2022.
For further information please visit: https://www.wkt.com.au/
