The Wiluna West Gold Project refers to the gold located on GWR's Wiluna West tenements..
Wiluna West Gold Project
The Wiluna West Gold Project is located approximately 40 km southwest of the Blackham Matilda / Wiluna Gold Operation which includes a gold processing and treatment plant .
Joint Venture Agreement
In November 2018 a binding Heads of Agreement (“HoA”) was executed with Blackham Resources Limited (“BLK”) for the establishment of a Joint Venture for the mining and processing gold deposits from Wiluna West Gold project at the BLK Matilda gold project located approximately 40 km to the north east (refer ASX announcement 23rd November 2018). Negotiations with BLK for finalising the transaction are ongoing and well advanced.
Under the HoA, GWR is responsible for drilling deposits to JORC 2012 Indicated category and Blackham will conduct feasibility studies, and if positive, undertake mining, transport and processing. This provides GWR with low capital-intensive opportunity to commence gold production by exploiting its combined JORC 2004 and JORC 2012 Mineral Resource with minimal Capex.
The joint venture arrangement will be a 65% (BLK) and 35% (GWR) on both costs and on the gold produced. Initial focus will be on Golden Monarch and Emu / Eagle deposits. This HoA aims to provide not only a processing solution at the Wiluna West Gold Project but will prompt further investment in exploration on the tenements, with the objective of developing a longer term project.
Mineral Resource updates are currently being undertaken for the Golden Monarch, Eagle and Emu deposits and will incorporate recent RC drilling results (refer ASX announcement 15th January 2019) and these should be finalised during May 2019.
Aboriginal Heritage surveys have recently been completed to underpin the Golden Monarch mining approvals and potential future drilling programs at Eagle and Emu.
Clearing Permits to allow mining operations have previously been granted and are still current for the adjacent JWD iron deposit. An amended Clearing Permit has been submitted to incorporate the Golden Monarch gold deposit.
Two HQ diamond drill holes for 185 m have been completed at the Golden Monarch deposit to facilitate a pit wall geotechnical assessment and consultants Peter OByran & Associates have completed a geotechnical assessment of open pit mining and designed pit wall specifications.
Preparation of a Mining Proposal seeking mining approval for Golden Monarch is well advanced and it is expected that this will be submit to DMIRS in May 2019.
For more information, see latest Quarterly Report