Apex Minerals NL has announced a substantial increase in Mineral Resources at its 100 per cent owned Wiluna and Wilsons deposits in Western Australia as a result of drilling over the past six months.
Apex Minerals NL has announced a substantial increase in Mineral Resources at its 100 per cent owned Wiluna and Wilsons deposits in Western Australia as a result of drilling over the past six months.
Apex Minerals NL has announced a substantial increase in Mineral Resources at its 100 per cent owned Wiluna and Wilsons deposits in Western Australia as a result of drilling over the past six months.
Drilling at Wiluna has focussed on a small area within just 200 metres of existing mine development and has more than tripled the Mineral Resource in this area to 459,000 ounces, increasing the total Wiluna resource to over 1 million ounces.
Apex has also doubled the Mineral Resource at its nearby Wilsons deposit to over 300,000 ounces.
In its first six months of drilling, Apex has added approximately 440,000 ounces of gold to its resource inventory at Wiluna and Wilsons.
The exploration success at Wiluna and Wilsons since acquiring the projects in mid-2007 has exceeded the company's expectations.
A project implementation plan which is due for completion during the June quarter is expected to confirm that the currently defined resource base is more than adequate to justify a project go-ahead and for production to recommence by the end of this year as previously planned.
Apex managing director Mark Ashley said the results confirmed the potential for ongoing drilling to significantly increase resources at the Wiluna and Wilsons projects, which will feed high grade ore to the Wiluna Processing plant
Underground mine design has commenced and underground mobile equipment selected, ensuring Apex remains on track to pour first gold from the Wiluna project toward the end of 2008.
Mr Ashley said the resource upgrade had been achieved well ahead of expectations.
Drilling will continue at Wiluna and Wilsons throughout 2008. Dewatering has also begun at the Youanmi gold mine to allow definition drilling to commence from the existing underground development allowing Youanmi to supply high grade ore to the Wiluna plant from mid 2009.
"Apex is on track to achieve its previously stated target of establishing reserves of one million ounces, sufficient to support production for five years, upon recommencement of production at Wiluna," Mr Ashley said.