05 Nov Wiluna Mining’s giant, high grade gold system grows even larger
Republished from Stockhead.com.au
Special Report: The high grade resource at Wiluna Mining Corporation’s namesake gold project just hit 4.24moz. The company believes it will “eventually end up as one of the largest gold deposits in Australia”.
Wiluna Mining’s (ASX:WMX) strategy to enhance the very large, high-grade Wiluna mineral resource for its Wiluna Mining Centre gold project in WA is paying off handsomely.
An additional 477,000 ounces has been added to the company’s high grade mineral resource for the Wiluna Mining Centre, representing an 11 per cent increase since the end of September.
“Drilling has successfully added tonnes, improved the grade and improved the portion within measured and indicated confidence categories,” chairman Milan Jerkovic said.
The company has now declared a 4.24 million-ounce resource at 4.89 grams per tonne for its Wiluna project that lies near Northern Star Resources’ (ASX:NST) and Saracen Mineral’s (ASX:SAR) Yandal gold mining hub in the Yilgarn Craton.
“We believe we can eventually end up as one of the largest gold deposits in Australia and become a tier-one gold mine in a tier-one jurisdiction,” he said.
A tier-one gold mine is defined as having production of 300,000 ounces per year in a 10-year mine life and gold reserves of 3 million ounces, said the company.
Read the article on Stockhead.com.au
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