Warrah Resources awarded Falklands licence

The company has secured an exclusive gold and minerals exploration licence from the Falkland Island Government, which covers a significant proportion of the land mass of East and West Falklands.

Gold was first discovered in the Falklands in 1999 and subsequent follow-up work through to 2007 confirmed additional gold occurrences. However, exploration techniques available at that time were unable to provide sufficiently detailed sub-surface target generation to identify potential economic gold sources due to the thick layer of peat present across many areas of the Falklands.

The Directors believe that the application of advanced geophysical applications such as drone magnetic and electromagnetic surveying combined with new technology, such as deep penetrating radar technology, will significantly de-risk future exploration by providing detailed sub-surface imagery in the priority areas.

Having secured the licence, the company will now seek to implement its work programme leveraging the extensive data set obtained from previous exploration programmes in the Falklands.

Work will initially involve desktop studies to generate target prospective areas. Geochemical and geophysical work combined with the application of remote sensing techniques – specifically deep ground penetrating radar – is anticipated to take place in early 2024. Initial capital expenditure to support the first phase of work is estimated to be up to £400 000.

In the event of encouraging results, the Company will seek to advance to exploration drilling activity later in 2024.

Stewart MacDonald and Derek Reeves, Founders of Warrah Resources, commented: “We would like to express our thanks to the Falkland Island Government for their support. The first phase of activity has the potential to be transformational for Warrah and its investors. The Falklands is largely under-explored and we believe the application of modern-day technology will add material value and substantially de-risk future exploration.”

Read the article online at: https://www.globalminingreview.com/mining/27072023/warrah-resources-awarded-falklands-licence/