Join our daily newsletter At The Bell to receive exclusive market insights
- Wiluna Mining (WMC) releases further high-grade results from resource development drilling at the Wiluna Mining Centre in Western Australia
- The latest results confirm Wiluna as a high-grade gold mine and show the potential to upgrade the project’s resource on an ongoing basis
- The company is expecting to publish the updated mineral resource estimate mid-month
- Shares in Wiluna Mining are in the grey and trading at $1.01 each
Wiluna Mining (WMC) has announced further high-grade results from resource development drilling at the Wiluna Mining Centre.
The company has received results from an additional 33 holes covering 11,723 metres from Happy Jack and East Lode prospects.
Over the past 18 months, Wiluna’s drilling program has consistently delivered thick, high grade intercepts from target locations at shallow depths.
The drilling program was designed to infill areas of the inferred resource, with the aim to upgrade geological confidence to indicated resource category and to grow the ore reserve.
Results from the drilling program include 3.72 metres at 5.31 grams per tonne (g/t) of gold and 3.6 metres at 7.22 g/t gold.
Wiluna Mining said these results confirm Wiluna as a high-grade gold mine. The results show the potential to upgrade the project’s resource on an ongoing basis.
The company is expecting to publish the updated mineral resource estimate mid-month, with feasibility study and ore reserves updated in March quarter of 2022.
The current high-grade resource at the Wiluna Mining Centre, above a 2.5g/t cut-off, is 26.9 million tonnes at 4.90 g/t for 4.23 million ounces and the historic mined grade was considerably higher at 7g/t to 11g/t depending on the ore zone.
Shares in Wiluna Mining are in the grey and trading at $1.01 each at 11:57 am AEDT.
