30 Sep Wiluna Mining climbs into seventh place with much bigger gold inventory
Republished from stockhead.com.au
Special Report: Wiluna Mining has boosted the resource at its namesake gold mine to 7.3 million oz, making it the seventh largest gold district under single ownership in Australia.
Wiluna Mining (ASX:WMX) has expanded the resource at the Wiluna operation to between 143 million tonnes at 1.6 grams per tonne (g/t) for 7.3 million ounces of contained gold and 71 million tonnes at 2.2g/t for 5 million oz of contained gold depending on the cut-off grade used.
Using a 1g/t cut-off grade gives Wiluna an expanded resource of 53 million tonnes at 3g/t for 5.1 million oz of contained gold, which is a 9 per cent increase for the year.
This ranks it as the seventh largest JORC-compliant gold district under single ownership in Australia, Wiluna says.
It also ranks the standalone Wiluna Mining Centre resource in the top 11 Australian gold deposits and compares favourably with Northern Star’s (ASX:NST) nearby Jundee mine, which hosts a resource of 55.2 million tonnes at 3g/t for 5.3 million oz of contained gold.
Wiluna controls over 1,600sqkm of the highly fertile Yilgarn Craton in the Northern Goldfields of WA.
The centuries old Yilgarn Craton has a historic and current gold endowment of over 380 million oz, making it one of most prolific gold regions in the world.
“One of our goals has been to define the scale of the geology at Wiluna,” executive chair Milan Jerkovic said.
“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 of 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.”
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