Wiluna Mining Corporation Ltd: Resource Drilling - Sulphide Development Feasibility Study

Perth, Australia - Wiluna Mining Corp. Limited (ASX:WMC) (FRA:NZ3) (OTCMKTS:WMXCF) is pleased to announce the completion of Resource development drilling for its Sulphide Development Feasibility Study.

Commencing in February 2020, over 175,000m of RC and diamond core has been drilled at the Wiluna Mining Centre in a major program utilising up to 8 rigs, with the program underpinning the Company's Mineral Resource (ASX release dated 5th November 2020), and Resource and Reserve updates that are currently underway as part of the Feasibility Study that is due for completion in the March quarter of 2022.

The focus of recent drilling has been threefold: to increase the level of confidence in the Mineral Resource at the Wiluna Mining Centre, increase the confidence in high priority mining areas in the 1 to 5 year mine planning window, and to confirm the Company's Reserves.

Infill drilling remains ongoing with 3 rigs currently drilling as part of the Company's ongoing Resource development program with a focus now towards underground mine development and grade control.

DRILLING RESULTS

The latest drilling results are from Happy Jack and East Lode and comprise an additional 56 holes for 13,249m, completed since the preceding drilling update announced on 20 July 2021.

Wiluna Mining's drilling strategy in the past 18 months has successfully defined thick high-grade intervals at shallow levels, close to previously mined zones with available access for rapid low-cost development (Figure 1*).

These results demonstrate that the Wiluna orebody is a very large scale and high-grade gold system.

The program was designed primarily to infill areas of Inferred Resource within preliminary stope designs, with the aim to upgrade geological confidence to Indicated Resource category, and to extend potential stoping areas along strike, up-dip and down-dip. The program has targeted growth in the Measured and Indicated Resource categories to 2.5Moz to provide the foundation for a sustained long term production operation. Currently the Measured and Indicated Resource is 2.14Moz @ 5.26g/t (above 2.5g/t cut-off). The additional Inferred Resource at Wiluna is 2.10Moz @ 4.57g/t (above 2.5g/t cut-off).

HAPPY JACK

Happy Jack zone located centrally within the Wiluna Mining Centre (Figure 1*). Drilling has returned multiple hightenor intercepts within 300m of the surface and close to the existing underground mine development.

The program was aimed at infilling the Inferred Resource areas, to upgrade geological confidence to Indicated or Measured categories to facilitate the conversion of these areas to Reserves. However, the program also shows potential for Resource growth where holes have intersected the mineralised shear zone below the current Inferred and Indicated Resource limits (Figures 2 & 3*, and ASX release dated 17 June & 20 July 2021).

HJRD00065: 6.37m @ 4.95g/t including 3.88m @ 7.58g/t
HJRD00081: 6.65m @ 7.59g/t
HJRD00100: 6.04m @ 5.87g/t
HJRD00101: 8.31m @ 3.73g/t including 3.10m @ 7.85g/t
HJRD00108: 9.34m @ 3.55g/t including 0.34m @ 20.00g/t
HJRD00113: 1.72m @ 26.84g/t including 0.83m @ 53.40g/t
HJRD00115: 2.00m @ 12.37g/t

EAST LODE

East Lode is a historical mining area that has produced greater than 1Moz located at the South Mine Area of the Wiluna Mining Centre (Figure 1*).

The Resource remains open over broad areas surrounding the historical mine, which was developed mainly in the 1930's to 1940's and briefly in the early 2000's, with mainly sparse historical drilling and presently Inferred Resource zones. The drilling program has focused on infilling these areas to upgrade the geological confidence from the Inferred to Indicated category, and subsequently to estimate Reserves.

The final phase of the drilling has focused on infilling the main East Lode, while simultaneously infilling hanging wall and footwall lodes. These additional stacked lodes show potential for significant Resource growth. Figures 5 & 6 show high-grade intercepts infilling Inferred areas of the preliminary stope design, demonstrating that significant high-tenor mineralisation remains in situ surrounding historically mined stopes.

WUDD0073: 6.00m @ 5.16g/t WURD0173: 11.30m @ 3.95g/t including 2.00m @ 7.79g/t and 2.00m @ 6.30g/t
WURD0176: 4.00m @ 4.34g/t
WURD0184: 4.20m @ 9.11g/t
WURD0187: 5.73m @ 4.03g/t including 0.73m @ 6.59g/t
WURD0188: 19.00m @ 7.03g/t

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/6A7V7UR6

About Wiluna Mining Corporation Ltd:

Wiluna Mining Corp. (ASX:WMC) (OTCMKTS:WMXCF) is a Perth based, ASX listed gold mining company that controls over 1,600 square kilometres of the Yilgarn Craton in the Northern Goldfields of WA. The Yilgarn Craton has a historic and current gold endowment of over 380 million ounces, making it one of most prolific gold regions in the world. The Company owns 100% of the Wiluna Gold Operation which has a defined resource of 8.04M oz at 1.67 g/t au. In May 2019, a new highly skilled management team took control of the Company with a clear plan to leverage the Wiluna Gold Operation's multi-million-ounce potential.

Source:
Wiluna Mining Corp. Ltd

Contact:

Milan Jerkovic Executive Chair +61 8 9322 6418 Jim Malone General Manager Investor Relations +61 419 537 714 Dannika Warburton Media & Communications +61 401 094 261