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Wiluna Resources (ASX:WMX) - Executive Chairman, Milan Jerkovic - The Market Herald
Executive Chairman, Milan Jerkovic
Source: Business News
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  • Wiluna Mining (WMX) has released more high-grade results from drilling at the Essex deposit, within the Wiluna Mining Centre in WA
  • The 45,000-metre drilling program is aimed at converting the sulphide resources from inferred to indicated, expand the overall resource and finding new, high-grade shoots
  • This aligns with Wiluna's strategy of eventually transitioning to stage two and increase gold production to over 200,000 ounces per annum
  • The current program is ongoing but is expected to be completed by the end of June
  • Company shares are up 9.52 per cent and trading for $1.38 each

Wiluna Mining Corporation (WMX) has released more high-grade results from resource development and infill drilling at the Wiluna Mining Centre in WA.

The 45,000-metre drilling program is aimed at increasing confidence in the sulphide resources from the inferred to indicated category, add tonnes and ounces to the overall mineral resource and find new, high-grade shoots.

This will help to transition from stage one to stage two, whereby Wiluna hopes to increase production to more than 200,000 ounces per annum of gold ore and gold concentrate over a long mine life.

The latest results primarily come from the Essex deposit. Essex is the second target to be drilled after Bulletin which yielded excellent results.

These include 7.4 metres at 15.82g/t gold from 40.56 metres, and 4.1 metres at 4.88g/t gold from 44.15 metres.

Drilling has since moved on to the Calvert and East West targets.

Latest results from Essex include eight metres at 5.31g/t gold from 168 metres including two metres at 18.12g/t, eight metres at 15.20g/t gold from 248 metres including five metres at 23g/t, 5 metres at 3.95g/t from 287 metres including three metres at 6.26g/t, four metres at 24.46g/t gold from 159 metres including one metre at 94.5g/t, and six metres at 16.78g/t from 174 metres.

Wiluna expects these assays will improve the geological confidence of current resources and reserves at Essex, where it currently stands at 38,000 ounces at 4.6g/t.

"The fact that we have now had exceptional drilling results from both Essex and Bulletin is exciting," Executive Chair Milan 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," he added.

Further drilling is planned to the south to follow up these results, while mineralisation is now largely closed off to the north.

Company shares are up 9.52 per cent and trading for $1.38 each at 1:42 pm AEST.

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