WIN Metals has completed a conditional capital raising of A$3.6 million to fund the acquisition of the Butchers Creek Gold Project in Western Australia, with drilling operations set to begin in October 2024.

Information on the Target

WIN Metals Limited (ASX: WIN) has successfully completed a conditional capital raising of A$3.6 million, primarily to fund the acquisition of the Butchers Creek Gold Project. This project is situated approximately 30 kilometers east of Halls Creek in the East Kimberley region of Western Australia and is known for its historical gold production. The mineralization at Butchers Creek remains open, indicating promising potential for further exploration and development.

The Butchers Creek Gold Project presents immediate near-mine drilling opportunities alongside multiple high-priority drill targets, which are expected to enhance the project's viability and extend its resource base. An aggressive exploration program is underway, with drilling operations scheduled to commence in October 2024. WIN Metals has also awarded a Reverse Circulation (RC) drilling contract to initiate the drilling program before the onset of the wet season, comprising 23 holes and a total of 7,000 meters of drilling.

Industry Overview in Australia

The gold mining industry in Australia is one of the key sectors of the country's economy, contributing significantly to both exports and employment. Australia is the second-largest producer of gold worldwide, with robust infrastruc