Butchers Creek Gold Resource Remains Open at Depth, Raising Growth Expectations for WIN Metals

Exploration Breakthrough at Butchers Creek

WIN Metals (ASX: WIN) has unveiled compelling results from its recent drilling campaign at the Butchers Creek Gold Project in Western Australia's Kimberley region. The highlight is drill hole 24BCRCD008, which intersected 11 metres at 3.01 grams per tonne (g/t) gold, situated 260 metres south of the previous southernmost drill hole within the 2021 Mineral Resource Estimate (MRE). This intercept lies within a broader mineralised zone of 16.52 metres at 2.10 g/t Au, underscoring the project's significant upside potential.

The 2024 program comprised 25 drill holes totaling 7,200 metres, including five step-out holes designed to test the continuity and extent of mineralisation beyond the known resource envelope. Four of these five exploration holes successfully intersected gold mineralisation, confirming WIN Metals' geological model that the Butchers Creek system remains open at depth and along strike.

Challenging Previous Geological Assumptions

Prior drilling by Meteoric Resources in 2021 had suggested that mineralisation terminated down plunge. However, WIN Metals' targeted drilling between previously identified holes BCRD489 and BCRD490 has proven otherwise. The new intercepts demonstrate that earlier holes missed the high-grade hinge of the Butchers Creek fold, with WIN's drilling now confirming continuity of mineralisation well below previous limits.

Managing Director Steve Norregaard expressed optimism, stating that the results "underscore the significant growth potential" of the Butchers Creek resource. He highlighted that the next phase of drilling will focus on further definition and growth, with the company well-positioned to delineate gaps in the mineralised system.

Resource and Project Context

Butchers Creek hosts a global mineral resource of 5.6 million tonnes at 2.0 g/t Au, equating to approximately 357,000 ounces of gold. The deposit is characterised by gold mineralisation within a folded syenite intrusive, with mineralisation associated with potassic alteration and sulphide-bearing quartz veins. The fold hinge zone, plunging 20-25 degrees to the south-west, is a key control on higher-grade mineralisation.

The project has a rich history, with gold production from an open pit mine between 1995 and 1997 yielding 52,000 ounces before closure due to low gold prices. WIN Metals acquired the project in 2024, building on prior exploration by Meteoric Resources and others.

Looking Ahead: Resource Update and Further Exploration

Following completion of the 2024 drill program and receipt of all assay results, WIN Metals is undertaking a comprehensive reprocessing of all core drilled at Butchers Creek since 2020. This includes detailed geological, structural, and geotechnical logging, with approximately 30% completed as of January 2025. The company anticipates releasing an updated mineral resource estimate in the fourth quarter of fiscal year 2025.

Additionally, WIN Metals has lodged heritage clearance applications with the Koongie Elvire native title claimant group for planned exploration activities in 2025 and 2026, with consultations scheduled for March. This proactive engagement is critical for advancing the project responsibly.

While other prospects such as Mt Bradley and Golden Crown South returned insignificant results in the recent campaign, Golden Crown remains a highly prospective target, with previous drilling intersecting high-grade zones including 6m at 10.85 g/t Au.