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Shares in WA explorer Mutiny Gold shot higher today after the company said it had found five new gold mineralisation zones at its White Well project east of Cue.

Mutiny said the White Well project covered 6.5 km of the Tuckabianna mineral belt, which had a total estimated resource of one million ounces over a strike length of 48km.

The White Well resource is estimated at 113,000 ounces of gold, which the company expects to enhance through further drilling and exploration.

White Well was abandoned by Newcrest Mining in the late 1990s and was acquired by Mutiny in the middle of last year. 

Mutiny Gold managing director John Greeve said he was confident White Well was a vastly underdeveloped resource.

Mutiny Gold shares were up 1.8 cents, or 64.29 per cent, to 4.6 cents at noon on low volumes.

STUART McKINNON

www.thewest.com.au

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