Wiluna Mining up as high-grade gold results continue to underpin stage-1 sulphide strategy

Wiluna Mining Corporation Ltd (ASX:WMX) has received more high-grade results of up to 8 metres at 15.2 g/t from 248 metres, including 5 metres at 23 g/t from resource development and infill drilling at the Wiluna Mining Centre in WA.

The further strong drilling results, particularly at Essex continue, to deliver shallow sulphides into the company's stage 1 sulphide strategy at Wiluna.

Drilling at the Essex and Bulletin targets continue to increase the geological confidence in the high-grade sulphide resources around the existing mine infrastructure, which will allow for rapid and low-cost development of Wiluna.

Delivering into strategy[hhmc]

Shares have been up 15% to an intra-day high of $1.45.

Wiluna Mining executive chair Milan Jerkovic said: “These ongoing outstanding results under the headframe are continuing to deliver into our stage 1 sulphide strategy as we initially pursue shallow high-grade sulphides targets.

“The fact that we have now had exceptional drilling results from both Essex and Bulletin is exciting."

High-grade results[hhmc]

Other drill results at Essex include:

• 8 metres at 5.31 g/t from 168 metres, including 2 metres at 18.12 g/t;
• 5 metres at 3.95 g/t from 287 metres, including 3 metres at 6.26 g/t;
• 4 metres at 24.46 g/t from 159 metres, including 1 metre at 94.5 g/t;
• 6 metres at 16.78 g/t from 174 metres;
• 5 metres at 3.13 g/t from 199 metres, including 2 metres at 21.30 g/t; and
• 11 metres at 10.51 g/t from 220 metres;

Results from drilling at Bulletin include:

• 7.4 metres at 15.82 g/t from 40.56 metres; and
• 4.1 metres at 4.88 g/t from 44.15 metres.

Jerkovic said: “Our plan to convert the large sulphide inferred resources at Wiluna into indicated resources continues to gather significant momentum and confidence with every new hole.

“These results will lead to new resource and reserves updates and mine planning work scheduled over the coming months.”

The company intends to provide its update to its mineral resource estimate in September 2020 and ore reserves in December 2020.

Essex high-grade results infilling current inferred and indicated areas

Mine development plan[hhmc]

The company is focused on drilling the sulphide ore bodies in support of the proposed mine development sequence at the Wiluna Mining Centre, which intends to:

• Significantly increase the confidence in the sulphide resources from inferred to indicated category which will, in turn, underpin the stage-1 reserve estimation;
• Add valuable tonnes and ounces to the companys overall mineral resources; and
• Find new, high-grade shoots that will enhance the ounces per vertical metre and, more importantly, increase the grade.

This will help consolidate stage-1 and enhance the transition into stage-2 which plans to increase production to more than 200,000 ounces per annum of gold dore and gold in concentrate.

“Becoming a Tier 1 gold mine”[hhmc]

Jerkovic said: “Wiluna Mining is a development and growth company currently focused on stage-1 sulphide development by September 2021, as well as expanding our mineral resources and increasing grade to feed into stage-1 and to make new discoveries.

“The curRead More – Source

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