Wyloo Dome Gold Project
In March 2022, Woomera entered into a Farm-in and Joint Venture Agreement (FIJVA) with privately owned Nanjigardy Resources over the Wyloo Dome Gold Project in Western Australia’s Ashburton region.
Wyloo Dome is located 1,000km north of Perth and is accessed via the sealed Nanutarra Road, from the township of Paraburdoo. The tenements lie between Northern Star Resources’ Paulsens gold mine (1.2Moz historical gold endowment) and Kalamazoo Resources’ Mt Olympus gold project (1.6Moz Mineral Resource*).
Under the FIJVA, Woomera can earn a 60% interest in the Project by funding up to $4 million of exploration within three years. Upon Woomera earning 60%, Nanjilgardy has the one-off option to contribute its 40% of further funding or revert to a free-carried 20% interest until decision to mine.
Woomera believes there is compelling evidence for deeper buried mineralisation between the Paulsens and Mt Olympus deposits and notes strong comparisons between the geology of the Ashburton and that of Nevada’s Carlin Trend, which hosts multiple multi-million ounce gold operations.
The geology of Wyloo Dome comprises Duck Creek Dolomite with lesser exposures of the Mt McGraths Formation, which hosts the gold mineralisation at Mt Olympus. A regional airborne electromagnetic (AEM) survey commissioned by Geoscience Australia in 2013 identified that the Mt McGraths Formation is conductive, providing a direct mapping tool to identify favourable stratigraphy.
Location plan of Wyloo Dome Project