PERTH (miningweekly.com) – The Widgiemooltha gold project, in Western Australia, could deliver 65 863 oz of gold over an initial 19-month mine life, ASX-listed Mincor Resources has told shareholders.
A feasibility study into the 60 000 t/m project estimated that the project could be developed at a capital cost of A$2.8-million, with C1 cash costs projected to be A$970/oz, and all-in sustaining costs around A$1 126/oz.
Mincor MD Peter Muccilli said on Wednesday that the feasibility study marked a key step forward in the company’s gold strategy, detailing a compelling mining investment based on initial reserves of 72 580 oz.
“What is also exciting is what these strong feasibility study results say about the value of the rest of our gold exploration portfolio. We have barely scratched the surface of the gold potential at Widgiemooltha, and the five resources included in this feasibility study area are surrounded by untested gold targets.”
Muccilli pointed out that the company also had nickel projects in the region, which Mincor will continue to maintain, while investigating avenues to enhance nickel options for a future recovery in the nickel price.
In the meantime, Mincor will now fast-track the delivery of an implementation plan to enable the board to make a mining decision at Widgiemooltha, with a decision to mine likely in the September quarter, allowing for first gold production by the March quarter of next year.