Wiluna Mining is ‘awaking a sleeping giant’ with 880g/t gold hit at Golden Age

Wiluna Mining is ‘awaking a sleeping giant’ with 880g/t gold hit at Golden Age

Republished from stockhead.com.au

Special Report: Wiluna has hit a ‘bonanza’ 880g/t of gold during infill drilling at its Golden Age deposit in Western Australia.

Wiluna Mining’s (ASX:WMX) strategy of drilling “under the headframe” is on the money, with extremely high-grades being uncovered at the Golden Age deposit, part of the much larger Wiluna Mining Centre.

The company today reported hits of 5.96m at 112.98 grams per tonne (g/t), including 0.41m at 185g/t and 0.65m at 880g/t. These would definitely be considered ‘bonanza’ grades.

There’s no actual definition of ‘bonanza’ by the way — it’s just a way to describe speccy gold grades.

In fact, there’s no official definition for high-grade either, but it’s generally accepted an orebody above 5g/t meets that criteria. And at the current high gold price, that is some extremely valuable gold.

Other top hits included 12m at 12.08g/t, 10.46m at 7.21g/t, 12m at 7.29g/t, 9.45m at 8.7g/t and 5.44m at 5.96g/t.

The news sent shares up as much as 30 per cent to an intraday peak of $1.60 on Wednesday morning.

 

Read the full article on Stockhead.com.au

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