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- West Wits Mining (WWI) has lodged a prospecting license application for Qala Shallows and Deeps areas of the Witwatersrand Basin Project in South Africa
- In July, the company was granted a mining licence covering less area than the previous prospecting licence and subsequently reduced the project resources
- If the new prospecting licence is granted, WWI says it will be able to reinstate a substantial proportion of the project’s mineral resource estimate
- WWI shares are up 15.9 per cent at 5.1 cents at 2:05 pm AEST
West Wits Mining (WWI) has lodged a prospecting licence application for Qala Shallows and Deeps areas of the Witwatersrand Basin Project in South Africa.
In July, the company was granted a mining licence covering a smaller area than the prospecting licence it replaced.
Subsequently, the global resource for the gold project, located in the Central Rand Goldfield, was reduced in line with the reduced tenement footprint.
West Wits Managing Director Jac van Heerden said the company was confident in its new prospecting licence application.
“We are confident that we will be able to comply with the prospecting right compliance requirements, upon which we will reinstate substantial resources to our Qala Shallows and Deeps areas of the WBP which were reduced on the grant of our mining right in July.”
The ground covered by the proposed prospecting licences is not as expansive as the old prospecting right but does contain several areas of long-term interest for the company.
WWI shares were up 15.9 per cent at 5.1 cents at 2:05 pm AEST.
