Wiluna Mining starts underground drilling at Happy Jack Lower deposit
Key points
- Wiluna Mining's drilling started at the Happy Jack Lower deposit within the Wiluna Gold Mine.
- Shares rose 6.25% to $0.51 following the operational update.
- The campaign aims to convert approximately 400,000 ounces of gold from inferred to indicated resources.
Wiluna Mining (ASX:WMC) commenced underground resource development drilling at the Happy Jack Lower deposit to support future mine planning.
The initial work targets upgrading approximately 400,000 ounces of gold-inferred mineral resources to the higher-confidence indicated category.
“Happy Jack was historically one of Wiluna's key high-grade underground production areas and represents an excellent opportunity to rapidly enhance resource confidence within a well-understood mineralised system,” said Wiluna Mining Managing Director Victor Rajasooriar.
The programme will utilise an approximate 40-metre by 40-metre spacing over roughly three months before moving to additional underground resource conversion targets.
Following the announcement, the Wiluna Mining share price was up at $0.51.
The company recently completed a $180 million initial public offering to fund exploration, resource conversion, and mine planning studies.
The broader Wiluna operation holds a global mineral resource of 7.1 million ounces of gold, which includes 4.95 million ounces in high-grade underground deposits.
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