On Target To Be A Tier 1 Gold Producer
Wiluna Mining Corporation Limited (ASX:WMX) has releases a significantly upgraded Mineral Resource estimate for its Wilina Gold Mining Project in Western Australia.
The company, formerly Blackham Resources, has in parallel with its ongoing drilling and Sulphide Development work, methodically updated its gold Mineral Resource, standardising and consolidating the entire Mineral Resource estimate in a consistent format, to place Wiluna Mining in the top seven largest gold districts in Australia.
The new Mineral Resource estimate is now updated across the company’s assets as of June 30, 2020, in accordance with the JORC Code 2012 edition.
Specifically, the 2020 Mineral Resource estimate reflects updated resource models for the Wiluna, Williamson, Matilda, Regent and Galaxy deposits, and maiden resource estimates for the Carrol-Prior and Williamson South zones at the Lake Way Mining Centre.
Mining’s Executive Chairman, Milan Jerkovic, said the results validate Wiluna Mining’s strategy of increasing geological confidence in the Wiluna sulphide resource and supports the staged Sulphide Development plan (production expected to be circa 120kozpa from September 2021, increasing to circa 250kozpa in late 2023/early 2024).
The total Wiluna Gold Operations Mineral Resources ranges from 143 Mt at 1.59 g/t for 7.29Moz to 71 Mt at 2.18 g/t for 4.99Moz depending on cut-off grade used.
Mr Jerkovic said further Mineral Resource and Reserves updates will be completed in early 2021 as ongoing drilling is incorporated into the modelling process.
“Our 2020 Wiluna Mineral Resource update is a summary of an extensive technical overhaul of the historical Mineral Resources and the inclusion of drilling we have done as part of our staged sulphide development strategy,” Mr Jerkovic said.
“The methodical consolidation of our data and Mineral Resource estimation process has been an enormous undertaking, however, the standardisation of this process will deliver significant benefits to the company as it underpins our Sulphide Development strategy.
“The inclusion of the recent drilling into the data set will also allow us to move forward with confidence into the Reserve estimation process.
“Our outstanding results from drilling ‘under the headframe’ have greatly assisted us in reaching a new Mineral Resource that gives us far greater confidence in what we really have at Wiluna.
“The consistency of the results supports our belief that we can deliver into our Sulphide strategy with great confidence as we continue to identify shallow high-grade resource development targets.
“One of our goals has been to define the scale of the geology at Wiluna. We are now in the top seven gold deposits in Australia based on JORC Mineral Resources, and the Wiluna Mining Centre, which will be the focus on our staged Sulphide Development, is rated the 11th largest gold deposit on its own, with an almost identical size and grade as Jundee.
“We believe we can eventually end up as one of the largest gold deposits in Australia and become a Tier 1 gold mine in a Tier 1 jurisdiction”
