- Wiluna Mining (WMC) has released an updated Mineral Resource for its namesake gold mine in Western Australia
- The Wiluna Mining Centre’s Mineral Resource now sits at 4.51 million ounces at 3.9 grams per tonne (g/t) gold
- The mine’s Measured and Indicated Resources increased by 28 per cent while its High-Grade Resource totals 3.11 million ounces at 5.81 g/t gold
- Wiluna will begin production at the site in December, with gold concentrate expected from January before production ramps up to 120,000 ounces per year by June
- Shares in Wiluna Mining are up 5.5 per cent at $1.15 per share
Wiluna Mining (WMC) has released an updated Mineral Resource for its namesake gold mine in Western Australia.
The Wiluna Mining Centre is located in the Goldfields region and consists of a large, long-life open pit and underground mining operation.
Ahead of production beginning in December, Wiluna has updated the Mineral Resource for the project via roughly 175,000 metres of drilling.
Wiluna’s Mineral Resource now sits at 4.51 million ounces at 3.9 grams per tonne (g/t) gold, including a High-Grade Resource of 3.11 million ounces at 5.81 g/t gold.
The company explained the Mineral Resource for Wiluna now includes the Wiluna deposits, the Matilda, Lake Way and Galaxy deposits, stockpiles, and tailings.
Additionally, the mine’s Measured and Indicated Resources increased by 28 per cent to 2.73 million ounces at 4.46 g/t gold.
Wiluna added the project has a growing high-grade gold endowment of 15,000 ounces per vertical metre over three main gold structures with a combined strike length of over 10 kilometres.
The ASX-lister is targeting production of 52,000 ounces in FY21, before expanding to roughly 120,000 ounces per year by June 2022 and then 250,000 ounces by FY24.
Stockpiles of 100,000 tonnes of development ore are already ready for processing
through the concentrator, with first gold concentrate expected from January.
Wiluna Mining Corporation shares were trading up 5.5 per cent at $1.15 per share at 1:44 pm AEDT.