WMS properties are strategically located in the “Navelgas Gold Belt” in a comparable geological environment to the El Valle-Boinas Carles gold mine and Salave project, which are significant gold deposits. The gold mineralization in the area typically occurs in high grade epithermal veins and breccias, skarns and as intrusive related gold deposits.

 

The four gold belts identified in Western Asturias and Galicia (NW Spain) are formed by multiple gold mineralizing events representing several styles of mineralization in a structurally complex, but favourable, terrain of Paleozoic carbonate and clastic host rocks.

 

WMS properties exhibit multi-million ounce gold potential and over 250K T Cu-Equiv. WMS properties are strategically located in mining-friendly jurisdictions, along geologically rich metallogenic belts known for gold and polymetallic mineralization. 

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The Nueva Celti Project, located in the Ossa Morena geological belt in the autonomous region of Andalusia, where former Cala and Agua Blanca mines are also located. The Nueva Celti Project was a producing mine with commercial grades of Cu reported, and comprises ~1,250 hectares.

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The Sierra Alta Project, likewise located in Asturias, enclosed in the Navelgas Gold Belt, is encompassed in a 90 km long by 20 km wide mineralized corridor, totalling ~2,500 hectares.

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The Penedela Gold Project is in the Ibias district, which is located at the southern edge of the Navelgas gold Belt. The Project comprises ~2,500 hectares with ~750 metres of strike length. 

 

The Valledor Gold Project, 9 km from Penedela, comprises ~3,500 hectares, covering a 6 km long by 5 km wide area. 

 

WMS initiated a 2 Phase; 3,000-metre diamond drilling program at Nueva Celti, in Q2-2023, the Company’s priority copper project in Spain due to initial drill hole results that demonstrate comparability to the vast amounts of regional and historical data, as well as high quality infrastructure on and adjacent to the property. Results of the first phase of drilling include 4.55 metres at 2.6% Cu in NCDD001, 26.05 metres at 1.5% Cu in NCDD002, 7.40 metres at 0.6% Cu in NCDD003, 1.65 metres at 1.7% Cu and 5.95 metres at 0.7% Cu in NCDD004. WMS has launched a first stage 1,000-metre, 5-hole, diamond drilling program at Sierra Alta.