Wiluna Mining Corporation Increases Minerals Resources

THE DRILL SERGEANT: Wiluna Mining Corporation (ASX: WMX) provided a progressive Mineral Resource update for the company’s Wiluna Mining Centre in Western Australia.

Wiluna Mining Corporation described the Mineral Resource update as being part of the company’s ongoing Sulphide Development plan.

The new Mineral Resource estimate includes additional resource development drilling data received up until mid-October.

High-grade Mineral Resource at the Wiluna Mining Centre has grown to 4.24 million ounces at 4.89 grams per tonne gold (above a 2.5g/t cut-off).

This includes the addition of 477,000 ounces that represents an 11 per cent increase since the update the company released in September 2020, with over 50 per cent of ounces now in the Measured and Indicated categories.

The total Wiluna Mining Corporation Mineral Resource (for all mining centres) ranges between:

154 million tonnes at 1.63g/t gold for 8.04 million ounces of gold (using a 0.4g/t cut-off) – an increase of 700,000 ounces;

108 million tonnes at 2.03g/t gold for 7.02 million ounces of gold (using a 1.0g/t cut-off) – an increase of 680,000 ounces; and

74.3 million tonnes at 2.29g/t gold for 5.47 million ounces of gold (using a 2.5g/t cut-off) – an increase of 477,000 ounces.

“Our ongoing $30 million drilling campaign has focused on high-grade areas with the potential to be mined at the start of our Sulphide Development schedule,” Wiluna Mining Corporation executive chair Milan Jerkovic said in the company’s announcement to the Australian Securities Exchange.

“Drilling has successfully added tonnes, improved the grade and improved the portion within Measured and Indicated confidence categories.

“We are delighted by these results because they build upon our strategy to enhance the very large, high-grade Wiluna Mineral Resource.

“Drilling has been supported by our team’s diligent efforts to extract maximum value from the large amount of existing historical drilling and mining data, including assaying of intervals of mineralisation from the historical core library which comprises over 800 kilometres of core.

“These efforts have contributed to the impressive growth in our Mineral Resource base.

“Significantly, this ongoing work continues to confirm that Wiluna is a very large-scale, very high-grade gold system.

“It affirms our strategy to pursue the large sulphide resource housed within the Wiluna gold system.

“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.

“This belief is based on the fact that the entire Wiluna Gold Operation is now the 7th largest gold district in Australia under single ownership based on overall JORC Mineral Resource, and the Wiluna Mining Centre, which will be the focus on our staged Sulphide Development, is now rated the 10th largest gold deposit on its own and is larger than Jundee.”

WMC anticipates an additional Mineral Resource update and interim Ore Reserves Statement, supporting the sulphide development and its funding, to be released early in 2021 as drilling of the large Wiluna gold system continues.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Email: info@wilunamining.com.au

 

Web: www.wilunamining.com.au