West Wits Mining Limited (ASX:WWI) has completed the acquisition of three mining leases within the Tambina conglomerate hosted gold project in the Pilbara region of Western Australia.
Michael Quinert, chairman, said: “Our newly acquired Tambina conglomerate hosted gold project in the Pilbara provides the potential opportunity for West Wits to expedite exploration and any possible production, as three mining leases have already been granted.
“West Wits is now well placed to deliver on its vision to become a mid-tier gold producer with operations in the world’s premier conglomerate hosted gold regions.”
Key advantage over peers
The key point of difference with the Tambina project is the three granted mining leases as it fast-tracks the commencement of any identified opportunity for mining operations materially faster than many peers.
With the substantial data passed across from the vendors, which includes legacy information from prior owners, the geology team has been able to gain a considerable head-start.
In turn, this has resulted in substantial man-hour and costs savings (circa $500,000) to replicate the data.
Promising results from exploration
Exploration results indicate recent gold discoveries in the Pilbara may be hosted in immature conglomerates that sit stratigraphically below basaltic units within the Lower Fortescue Group.
Goldstream Mining had completed 22 trenches within Tambina, with results including 15 metres at 1.45 g/t gold, 5 metres at 2.27 g/t gold and 15 metres at 2.66 g/t gold.
Based on this and other legacy information, West Wits now has a clear base line.
Notably, it can sample the key target conglomerates and, in turn, identify the key places to conduct bulk sampling protocols, complete the recovery testwork, and follow up metallurgical studies in Perth.
Next steps
Moving forward, the geology team intends to commence field-work at the Tambina project once the wet season concludes (March-April).
The initial focus will be on several gold-in-soil anomalies located in the southern half of the leases, but this will migrate to encompass other areas within the tenure too.
READ: West Wits Mining ramping up cashflow positive gold project in South Africa
Meanwhile, West Wits is planning to secure mining rights across the whole Witwatersrand Basin Project in South Africa to substantially scale up the current gold production of circa 1,000 ounces per month.