Projects Overview
The Company’s 100% owned Wiluna Mining Operation boasts a total of 91 mt for 7 million ounces of Mineral Resources set within one of the world’s most prolific gold regions – the Northern Goldfields of Western Australia.
In addition to the large resource base, Wiluna hosts key supporting infrastructure, which includes a 2.1 mtpa CIL processing facility, a modern 750 ktpa gold concentrator, a gas-fired power station and a 300-person camp, capable of supporting a rapid return to full-scale mining operations.
Wiluna’s initial expansionary focus ‘under the head frame’ centres on the targeting of high-grade gold shoots to 1,000 metres below the surface along the Wiluna Central Mine Area and includes the Wiluna Mine with its large sulphide resource at Bulletin, Happy Jack, East Lode, Woodley, Burgundy, Calvert and Essex.
Wiluna Central Mine Area also includes Regent and the Quartz Reef deposits of Golden Age, Galaxy, and Monarch. Presently, the Wiluna Central Mine Area has a JORC Mineral Resource of 6.1Moz @ 3.54g/t with an underground Mineral Resources of 38.37mt at 4.01g/t Au for 4.9 million ounces based on A$3,250/oz gold price and a 1.85g/t cut-off, including the Measured and Indicated categories of 10.5Mt @at 3.31 g/t for 1.44Moz near existing infrastructure.
The Wiluna Central Mine Area also has an Open pit JORC Mineral Resources of 14.98 Mt at 2.33g/t Au for 1.1 million ounces within a A$3,250/oz Reasonable Prospect for Economic Extraction (RPEE) pit shell and cut-off grades of 0.35 g/t for oxide and transitional material and 0.70 g/t for fresh rock due to recovery factors of oxide, transition and fresh material in addition to economic factors relating to open pit mining scenarios.
TAILINGS RETREATMENT
The Company is currently reprocessing historic tailings material through its existing Wiluna processing facility. The tailings are mined via conventional load and haul methods utilising 80-tonne excavators and a fleet of 40-tonne six-wheeled articulated dump trucks. Mining operations are conducted on the day shift only. Mined material is hauled to the mill ROM stockpiles, where they are rehandled into the mill via a front-end loader. The processing facility operates on a continuous basis, reprocessing ~10kt per day of tailings.
Wiluna has stabilised the tailing treatment operations and is generating positive cashflow from and is producing circa 25-30koz per annum in a rising gold price environment.
WILUNA RESTART PLAN
The Company is currently developing a re-start plan focused on producing from a mixture of Underground, Open pit, tailings retreatment and toll treatment sources. Wiluna’s restart strategy is focussed on leveraging value from the company’s existing infrastructure including the newly constructed modern gold concentrator, the established tailings retreatment operations to expedite a rapid return to mining of Wiluna’s multi-million-ounce Mineral Resource.
Lower strip ratio and smaller waste pre-strip open pits will be targeted to provide supplementary ore feed to achieve the 750kt per annum production rate during a period of re-establishing underground production at 750kt per annum.
KEY POINTS:
Wiluna Operation is a single location gold producer located at the northern end of Australia’s largest gold mining system, the Yilgarn Craton.
The Wiluna Operation has a JORC 2012 Mineral Resource of 91.5Mt @ 2.38g/t for 7.0Moz of gold.
The Company has stabilised operations and is generating modest cashflow from the tailings retreatment plant and milling ore via a conventional CIP plant and is producing circa 25-30koz per annum, in a rising gold price environment.
Free cashflow has been re-invested in the project and used to reduce debt and service interest whilst plans are being prepared to re-start hard rock mining to maximum value from the significant multi-million ounce Mineral Resource.
The Company is developing a re-start plan focused on achieving 750kt of ore production from underground. open pit and toll treating sources, producing a gold concentrate for a three-year period and establishing a consistent operation and stable cost base.
The strategy looks to maximise the benefit of the newly-constructed gold concentrator, the established tails retreatment processing and demonstrate the successful mining of the significant multi-million-ounce Mineral Resource.
Lower strip ratio and smaller waste pre-strip open pits will be targeted to provide supplementary ore feed to achieve the 750kt per annum production rate during a period of re-establishing underground production at 750kt per annum.
The Wiluna processing facility is one of the only processing facilities in the region with the ability to process free milling CIL ores and sulphide ores that require crushing, grinding and floatation. Wiluna is open to toll treatment, joint venture or other corporate opportunities.
Wiluna is one of the largest gold districts under single ownership in Australia.
Substantial infrastructure and existing development – 2.1 Mtpa CIL plant, 750 ktpa flotation plant, extensive underground development including five declines, new tailings dam, 300-person accommodation village, a gas lateral pipeline, power station and a nearby landing strip.
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