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Company Announcement: Maiden Resource Estimation Commenced for MT Ida projects

21st January 2013

  

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Wild Acre Metals Limited  (0.35 MB)

Wild Acre Metals Limited is pleased to advise that independent geological consulting company CoxsRocks Pty Ltd has been appointed to undertake a JORC compliant resource estimation for the Quinns and Mt Ida South gold projects located in the Eastern Goldfields of Western Australia. Since listing on the ASX in March 2010, Wild Acre has completed a number of drilling programs covering numerous prospects (267 holes for 12,084 metres) with the aim of building a resource inventory for the Company at these projects. The resource estimation will include the Boudie Rat, Forrest Belle, Quinn Hills, Spotted Dog and Tim’s Find prospects.

The drilling completed at these prospects has extended previously known mineralisation at depth with mineralisation not currently closed off by drilling. It is anticipated that this work will be completed in the coming weeks. The establishment of a maiden JORC resource at the Company’s Mt Ida Projects is seen by the Board as an opportunity to demonstrate the immediate value of the project area and the broader district with excellent exploration potential remaining along almost 39 kilometres of the Ballard / Zuleika Shear which to date has had modest exploration drilling.

The Company has planned a further RC drilling program to be completed at the Spotted Dog prospect (Mt Ida South Project) for the June Quarter. Drilling is planned to test for the possible southern extension of high grade mineralisation intersected in previous drilling including 20 metres @ 1.73 g/t gold from 20 metres and 10 metres @ 7.99 g/t gold from 48 metres. A corridor of approximately 550 metres along this horizon remains undrilled to the south. The Spotted Dog prospect is located approximately 150 metres to the west of the Tim’s Find prospect where gold mineralisation has been delineated for over a 1 kilometre strike length.

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