Wiluna Mining Corporation Ltd (WMX.AX) Wiluna Development Update - June 2021
Perth, Australia, June 23, 2021 - (ABN Newswire) - Wiluna Mining Corporation Limited (ASX:WMX) (HAM:NZ3) (OTCMKTS:WMXCF) is pleased to provide an update on mine development activities in support of our 24-month (commenced October 2019), five-point Wiluna Development Strategy to;
1. Continue to strengthen the balance sheet
2. Increase operational cash flow
3. Transition to include gold concentrate production
4. Expand production, and
5. Undertake exploration and feasibility studies to fully develop a 250kozpa, long life gold operation.
- Stage 1, 750ktpa Flotation Plant construction is 54% complete and mine development approximately 35% advanced; targeting full ramped up production of 120kozpa by end of FY2022.
- Golden Age eastern extension identified and currently being developed in the upper section in Q4; expected to provide significant growth in scale and mine life of dore production to support Stage 1.
- FYTD 2,749 metres of underground development completed.
- Stage 2 Feasibility Study continues; completion expected by end of CY2021.
- FYTD Mineral Resource drilling for Stage 1 & Stage 2 Feasibility Study on track; 101,450 metres completed.
- Optimisation Metallurgical test work ongoing and positive. Work continues to optimise gold recovery, grind size and reagent consumption.
- Rod Mill rectification work completed and back in service resulting in immediate increase in milling rates.
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About Wiluna Mining Corporation Ltd:
Wiluna Mining Corporation (ASX:WMX) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.
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