Mincor Resources’ plans to bring its Widgiemooltha gold project in Western Australia into production early next year remain on track.
The company reported this week that it has received regulatory approvals from the WA mines department to launch mining at Widgiemooltha.
Mincor has also updated its mineral resources for the project, which have grown to 267,1000 ounces of gold, an increase of 29,070 ounces at a discovery cost of $9.60 an ounce.
The expanded inventory includes two small but effective drilling campaigns that led to the discovery of the Flinders West deposit.
Mincor managing director Peter Muccilli said the updated resources showed how the Widgiemooltha project rewarded drilling.
“The Flinders West discovery could underpin an improved mining schedule with enhanced start-up economics,” Muccilli said.
“Importantly, the mineralisation trends around Flinders remain open. Results from the latest drilling program will give further insight into this potential.”
Meanwhile, Mincor has been encouraged with the recent rises in nickel prices, according to Muccilli. The company also owns several nickel assets in WA.
“We are closely monitoring the fundamentals behind the growing positive sentiment for the commodity,” he said.
“Mincor has a high-quality nickel sulphide asset base in a Tier 1 nickel province. Our pipeline for growth is quite exceptional for a junior company.”