Wiluna claims to eclipse Jundee

Wiluna claims to eclipse Jundee

Republished from MiningNews.Net

The 60,000ozpa miner claimed the title of “Australia’s seventh largest gold district” in September, with 7.3Moz defined within its goldfield, but this morning it announced total resources across the Wiluna, Matilda and Lakeway mining centres were now 154 million tonnes grading 1.63 grams per tonne for 8.04Moz, based on a 0.4gpt cut-off.

Using a 1gpt cut-off only shrinks the resource to 7.02Moz.

Within that is a high-grade resource of 4.24Moz at 4.89gpt, up 11% (477,000oz) since the end of September.

That resource will from the backbone of the company’s two-stage sulphide development plan, which aims to boost production to 120,000ozpa within 12 months, and then 250,000ozpa beyond that.

Executive chairman Milan Jerkovic claimed the Wiluna mining centre was now Australia’s tenth largest gold deposit with 5.78Moz at 2.99gpt based on a 1gpt cut-off, eclipsing Northern Star Resources nearby Jundee mine with 5.3Moz at 3gpt.

Today’s resource update encapsulates the results from the company’s ongoing, aggressive work, adding some 30,000m drilled between July 1 and September 30.

Jerkovic said the company’s A$30 million investment in drilling high-grade areas of its goldfield was delivering the hoped-for increases in grade and confidence.

Ongoing mining studies are assessing the best pathway for development, such as a combination of open pit and selective underground mining.

Wiluna expects to deliver yet another resource upgrade, with a new reserves estimate, early in 2021.

It still has four rigs tasked in infill drilling, and work by its geological team is poring over historical core, and had interpreted new lodes at Woodley that will be includes in a future resource update.

Wiluna shares were up 3.4% to $1.84, valuing the company at $184 million.

Read the article on MiningNews.Net

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