공시 • Nov 06
Wiluna Mining Corporation Limited Provides Mineral Resource Update
Wiluna Mining Corporation Limited reported a progressive Mineral Resource update for the Wiluna Mining Centre, as part of the Company's ongoing Sulphide Development plan. The new Mineral Resource estimate includes additional resource development drilling data received up until mid- October and has been updated in accordance with the JORC Code 2012 edition. Full details in relation to this estimate are provided in the Appendix to this announcement titled JORC (2012) Table 1. This new Mineral Resource estimate is an update from the Mineral Resource released on 30 September 2020 which had only included drilling data received up to 30 June 2020. The results continue to validate WMC's strategy of increasing geological confidence in the Wiluna sulphide resource and supports the staged Sulphide Development plan (production expected to be circa 120kozpa on completion and fully ramped up commencing from October 2021, with a plant upgrade increasing production to circa 250kozpa on completion and fully ramped up commencing in late 2023/early 2024). Summary of Mineral Resource Statement. Using a 0.4 g/t cut-off Wiluna Mining's total Mineral Resource (including the Wiluna, Matilda, Lakeway Mining centres plus tailings, stockpiles and Galaxy) is now 154Mt @ 1.63g/t for 8.04Moz. Using a 1.0 g/t cut-off Wiluna Mining's total Mineral Resource is now 108Mt @ 2.03 g/t for 7.02Moz. Importantly, the Wiluna Mining Centre Mineral Resource (excluding the Matilda and Lakeway Mining Centres, tailings, stockpiles and Galaxy), where Stage 1 and Stage 2 will be mined, is made up of: Wiluna Mining Centre 60.2Mt @ 2.99g/t for 5.78Moz (1.0g/t cut-off); an increase of 13% on ounces compared with the 30 June 2020 resource (see ASX release dated 30 September 2020). The high-grade component of 26.9Mt @ 4.89g/t for 4.24Moz (2.5g/t cut-off); an increase of 13% on ounces compared with the 30 June 2020 resource. This number is especially relevant to the Stage 1 Sulphide Development as it relates to the underground mining sulphide Mineral Resource at the Wiluna Mining Centre. At the 2.5g/t cut-off, Measured and Indicated Resource at the Wiluna Mining Centre are now over 50% of total (46% previously). A further 30,000m of resource development drilling has been included since the last update (which comprised drilling completed until 30 June 2020). Drilling is ongoing with four rigs currently operating to infill and grow the Mineral Resource. Additional lodes interpreted at Woodley based on inclusion of historical drilling data; further updates to include additional lodes. Further Mineral Resource and Reserves updates will be completed in early 2021 as ongoing drilling is incorporated into the modelling process. The geological programme to date has been designed with the following aims, in alignment with the Company's Staged Sulphide Development plan: Significantly increase the confidence in sulphide resources from Inferred to Indicated and Measured categories, to underpin the Reserve estimation expected in January 2021. Add Reserve ounces in high-grade, shallow zones, close to existing mine development that can have the potential to be rapidly brought into production at low cost. Find new, high grade shoots that will enhance the ounces per vertical metre and, more importantly, increase the grade. The Company is currently producing circa 60kozpa of gold doré and targeting a staged expansion to 120kozpa of gold on completion and fully ramped up commencing October 2021, increasing to circa 250kozpa gold over a long mine life. The current drilling programme is designed to increase the geological confidence in sulphide resources that underpin the Staged Sulphide Expansion production. The feasibility study into the expanded Staged Sulphide Development has commenced and is targeted for completion before the end of 2021. The overall Staged Sulphide Development is planned to produce over 250kozpa in gold doré and gold concentrate. Very few gold projects at one location, under the control of one company, have the potential for this scale of production in a Tier 1 location. Ongoing drilling from both UG and surface locations is being conducted by WMC at key strategic locations along the Wiluna Deposits. Since the 30 June 2020 cut-off date for data for the September Mineral Resource announcement, a further 151 drill holes (diamond and RC) have been completed. In addition, WMC has initiated a program of systematically reviewing all existing historical holes that currently intersect the interpreted mineralisation, but which have no assays reported. The historical core is being located, re-logged, and sent for analysis. Results to date have been incorporated into the revised lode interpretations. The Wiluna South and North models have been updated to include these new drill results. Key areas that have been re-interpreted are at Calvert, Baldric, Bulletin, and at the Southern end of East Lode. A new lens has been interpreted at Woodley which lies parallel to Bulletin. WMC had depletion solids (stopes and development drives) through this area but no historical mineralisation wireframes could be located. The area has been interpreted using a 2g/t Au cut- off envelope. The current Mineral Resource inventory includes the Wiluna deposits (Wiluna Mining Centre), Matilda deposits, Lake Way deposits, and regional deposits, in addition to existing stockpiles and tailings. The deposits at the Wiluna Mining Centre are a primary focus on Wiluna Mining delivering on the Wiluna Sulphides Development project. Mining studies are being conducted by Wiluna Mining, with the assistance of external consultants, assessing various mining options ranging from selective high-grade stoping, underground bulk mining, open pit methods, or a combination of these options. In addition to tabulating the global Mineral Resource, Wiluna Mining has chosen to report the Mineral Resource at the Wiluna deposits in a separate table using cut-offs at 0.4 g/t, 1.0 g/t, and 2.5 g/t Au to provide transparency to the scale of these deposits that could be representative of each mining scenario, whilst initial studies are being finalised. The Mineral Resource for the Wiluna deposits reported at various gold cut-offs is tabulated in Tables 1, 2 & 3. The Wiluna deposits have been compiled into a single Wiluna Mining Centre and reported at various cut-offs due to the ongoing assessment by the Company of various mining options to fully optimise the mining methods that align with the Company's Wiluna Staged Sulphides Development project. The Regent deposit has been included with the Wiluna deposits in 2020 due to its similar characteristics which will allow it to be processed in a similar fashion. The Golden Age underground deposit has been incorporated into the Wiluna Mining deposits global Mineral Resource total.