Lake Way

Lake Way Mining Centre

The Lake Way Mining Centre encompasses the Williamson Gold Mine and two nearby prospects, Carrol and Prior. Lake Way has geological similarities to Thunderbox Mine (Saracen Mineral Holdings Ltd) and Gruyere Mine (Gold Road Resources Ltd), and has the potential to be a very large free-milling gold system.

The Lake Way deposits – Williamson Mine, Carrol and Prior – are situated on the ‘Wiluna Mine Sequence’ which is the same sequence of rocks that hosts the large Wiluna Mining Centre. Lake Way covers 6km of strike with multiple mineralised structures and is just 20km from the Wiluna gold plant. The area is covered by shallow sediments contained in the Lake Way salt lake and consequently, has seen limited systematic modern exploration.

The most advanced Lake Way project is Williamson which currently has JORC Mineral 2012 Resources of 3.36Mt @ 1.37g/t for 148,000 ounces of gold 115,000oz @ 2.18g/t. The Williamson open pit produced around 668,000 tonnes @ 1.98g/t gold for a total of 42,000 ounces but ceased in 2005-2006 under a previous operator, and Wiluna Mining produced a further 53,000 ounces from an open pit cutback in 2020-2021. When the gold price was A$770/oz. Wiluna Mining resumed mining at Williamson in 2019, with an open pit ore reserve of 1.05Mt @ 1.6g/t for 53koz. Drilling is underway to further expand open-pit resources and reserves and to assess the potential for future underground mining.

Williamson mineralisation is free-milling and occurs as disseminated sulphides and free gold in association with a north striking/east-dipping granite. Higher grade sulphide and visible gold mineralisation are associated with shearing on the contacts of the granite and dolerite host rocks.

Carrol and Prior are exciting prospects located just 1km southwest and parallel with the Williamson mine. Drilling has demonstrated the large-scale potential of Carrol and Prior, with results including 20m @ 2.68g/t, 18.6m @ 2.21g/t, and 21m @ 3.45g/t encountered over a strike length greater than 3km. Carrol and Prior have a maiden Inferred Mineral Resource of 56,000oz @ 1.42g/t with further extensional drilling planned.

KEY POINTS:

  • 01 The Lake Way Mining Centre encompasses the Williamson Mine and Carrol and Prior projects and is located 26km from the processing plant by existing haul roads.
  • 02 Lake Way represents an exceptional growth opportunity with large discovery potential, particularly around the Williamson Mine Area concealed under the lake cover.
  • 03 Williamson has a JORC Mineral 2012 Resources of 3.36Mt @ 1.37g/t for 148,000 ounces of gold 115,000oz @ 2.18g/t.
  • 04 Lake Way has over 6km of mineralised strike with drilling planned to target multiple gold structures and geochemical anomalies.
  • 05 Carrol and Prior have a maiden Inferred Mineral Resource of 56,000oz @ 1.42g/t with further extensional drilling planned.

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