Wiluna Mining Corporation Ltd (ASX:WMC) Bonanza Grade Intercepts at Wiluna
OTCMKTS:WMXCF) announces bonanza-grade assays from resource development drilling at the Happy Jack and East Lode zones within the Wiluna Mining Centre.
Happy Jack and East Lode are initial mining areas in the Company's sulphide development plan, where redevelopment of the underground operation is already well advanced ahead of imminent production. The program aims to infill Inferred Resource areas with a view to upgrading geological confidence to Indicated or Measured category and converting these areas to reserves.
The program is also expected to increase the resource grade, with demonstrated high grades at good mining widths intersected beyond the current resource limits. The current high-grade resource at the Wiluna Mining Centre, above a 2.5 g/t cut-off, is 26.9Mt @ 4.89 g/t and the historic mined grade was considerably higher at 7 g/t to 11 g/t depending on the ore zone. It is considered that with results like these, the mined grade will increase when stoping commences in previously unmined areas in the September quarter this year. Increasing the mined grade at Wiluna is extremely important because every 1 g/t increase in grade adds an additional 25kozpa to production in Stage 1, increasing to an additional 50kozpa in Stage 2.