High-Grade Results Continue To Highlight Tier 1 Gold Potential
Wiluna Mining Corporation Limited(ASX:WMX) has achieved high‐grade results from a further 68 holes and 18,584m of resource development infill drilling at the Wiluna Mining Centre in Western Australia where it has six rigs currently on site.
Executive Chair, Milan Jerkovic, said these results will enable the company to complete detailed Mineral Resource and Reserve estimates as part of the Wiluna Stage 1 sulphides expansion project.
He said the company intends to update Mineral Resource estimates in late September 2020 and Reserves in December 2020.
Milan Jerkovic, Wiluna Mining’s Executive Chair commented:
“Once again we are seeing outstanding results from drilling ‘under the headframe’,” Mr Jerkovic said.
“The quality of the drilling results means we are confident of delivering our Stage 1 sulphide strategy. The drilling continues to define shallow high‐grade resource development targets.
“At the Wiluna Mining Centre from our first holes at Bulletin and Essex, Golden Age through to Calvert and the East Lode, this ongoing programme has delivered consistent exceptional high‐grade drilling results which shows that Wiluna remains one of the largest undeveloped gold systems in Australia”.
“The outstanding results provide confidence in our Mineral Resource and Reserve estimates as we release them on a rolling basis from September 2020 through to December 2020 and into next year.
“The sheer volume of data we now must evaluate is significant and the potential for the scale of the gold system at just the Wiluna Mining Centre is extremely exciting. We do believe the drilling results show we are awaking a sleeping giant”.
“As I have continued to stress over the past six months, Wiluna Mining is a development and growth company currently focussed on Stage 1 sulphide development commencing by September 2021, while expanding our high‐grade Mineral Resources and making new discoveries. This is the strategy and focus of the company.
“ It is important that we emphasise our current operation, until the commencement of Stage 1 concentrate production in September 2021, is purely to provide valuable operating cashflow to assist in funding this transition to Stage 1 and producing gold concentrates to achieve our goal to become a Tier 1 gold mine in a Tier 1 jurisdiction.”
This drilling programme, to date, has been designed with the following aims, in alignment with the Company’s Stage 1 expansion plan:
- Significantly increase the confidence in sulphide resources from Inferred to Indicated category which will underpin the Stage 1 Reserve estimation.
- Add Reserve ounces in high‐grade, shallow zones, close to existing mine development that can be rapidly brought into production at low cost.
- Find new, high grade shoots that will enhance the ounces per vertical metre and, more importantly, increase the grade. This will help consolidate Stage 1 and enhance the transition into Stage 2 which has the plan to increase production to +250kozpa of gold and gold in concentrate over a long mine life.
