Extract of the AFR Article released 17/04/2019:
Norwest Minerals represents the little engine that could – biting off a huge chunk of very large exploration sites in WA (which were divested by fellow ASX-listed exploration company Australian Mines) and aiming to use the $6.6 million in funds it raised during listing last year to pour mostly into gold exploration.
Norwest’s first big target (19 tenements it holds in WA covering more than 1800 square kilometres) is the North Dovers IOCG prospect (600km west of Alice Springs), part of the Arunta West project in Western Australia.
North Dovers is an 8kmby 4km IOCG target, which the company’s geologists believe has geophysical and geological features nearly identical to BHP’sOlympicDamIOCG. In fact, North Dovers was previously owned by BHP, which could not secure land access from the area’s traditional owners to explore, so it sold off the exploration site. Norwest now has all the relevant approvals and permits to proceed with drilling. The company also has the support of the West Australian government for this exploration with a $200,000 grant.
“It’s been described that what we are doing is a very ballsy move for a small explorer – and that’s what our investors expect and want from us,” says Schaus. “They want us to pursue these opportunities.”
Deep diamond drilling at North Dovers is expected to start in the first week of May and continue for approximately three weeks. Norwest will be the first company to drill at the site. “From there, we will plan further drilling based on the initial results,” says Schaus.
“The thing about Western Australian explorers is we are very good at finding and extracting gold –we have some of the most advanced gold exploration and processing techniques in the world and the level of expertise in theWA gold sector is enviable.’’
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