http://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Mon, 28 May 2018 00:00:11 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[Media files - West Wits Mining on its way to becoming a ‘full scale production company’ ]]> http://www.proactiveinvestors.com.au/companies/stocktube/9338/west-wits-mining-on-its-way-to-becoming-a-full-scale-production-company-9338.html Mon, 21 May 2018 09:36:00 +1000 http://www.proactiveinvestors.com.au/companies/stocktube/9338/west-wits-mining-on-its-way-to-becoming-a-full-scale-production-company-9338.html <![CDATA[News - West Wits Mining transforming into a junior gold miner in South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/196959/west-wits-mining-transforming-into-a-junior-gold-miner-in-south-africa-196959.html West Wits Mining Limited’s (ASX:WWI) mining rights application for the Witwatersrand Basin Project (WBP) has been accepted for processing by the South African mining regulator.

This marks the start of the company’s transformation into a junior gold miner.

A decision on approval will be made within 300 days, enabling WWI to scale-up mining operations at several sites concurrently across the WBP from the first half of 2019.

WATCH: West Wits Mining on its way to becoming a ‘full scale production company’

Chairman Michael Quinert said acceptance of the application as a valid application for processing marked the real start of WWI’s transformation.

“The timing is fortuitous as the Board notes the investment climate for foreign investors in South Africa’s mining sector has improved, with the new administration adopting a business centred strategy.

“During the intervening period, however, the team is focused on expanding the resource size to comply with the JORC 2012 code.

“The focus is also on commencing mining operations on the Main & South Central and Kimberley West open-pits once regulatory approval is granted.”

READ: West Wits Mining is an emerging conglomerate-hosted gold producer

WWI’s conglomerate gold strategy also encompasses prospects in the Pilbara region of Western Australia.

Securing mining rights in South Africa is a rigorous process as the regulator enforces tough environmental standards and requires the applicant to consult widely.

WWI has demonstrated that it has the capacity to meet its environmental obligations via rehabilitating pits 1 and 2 at the Kimberley Central open-pit.

Engaging with communities

The management team is highly proactive and engages positively with local communities and stakeholders.

Once regulatory approval is secured, it opens up options to have concurrent mining operations at several locations across the WBP, enabling the production platform to be rapidly scaled.

WWI is encouraged by President Cyril Ramaphosa’s intention to create a conducive investment climate with a business centred strategy in South Africa.

Creating a balanced mining charter acceptable to all stakeholders and that will attract significant foreign investment is broadly favourable for WWI’s forward plans.

Resource estimate upgrade

The immediate focus for WWI’s South African team is two-fold:

- Complete a mineral resource estimate update for the Kimberley Reef on the historical Rand Lease area to bring it into the current JORC framework; and,

- Prepare for mining at Main & South Central and Kimberly West open pits, once regulatory approval is secured on the two mining permits. These were submitted in April and are expected to be received in the latter half of 2018.

Rain impacts production

Production at Kimberley Central open-pit in March-April was lower than expected mainly due to extremely heavy rainfall that hampered mining and processing.

The inclement weather was compounded by a bottleneck at the processing plant which left about 4,450 tonnes of ore stockpiled at April 30.

Weather patterns have since returned to normal with production and processing targets for May on track to being achieved.

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Tue, 15 May 2018 11:42:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196959/west-wits-mining-transforming-into-a-junior-gold-miner-in-south-africa-196959.html
<![CDATA[News - West Wits Mining discovers visible gold in all samples from the Tambina Project ]]> http://www.proactiveinvestors.com.au/companies/news/196199/west-wits-mining-discovers-visible-gold-in-all-samples-from-the-tambina-project-196199.html West Wits Mining Limited’s (ASX:WWI) second site visit to the Tambina Project in the Pilbara region has returned visible gold nuggets and in-pan concentrates.

The results highlight gold mineralisation may be more extensive than initially envisaged, warranting an expanded field trip to confirm if small-scale mining operations can re-start.

READ: West Wits Mining is an emerging conglomerate-hosted gold producer

The geology team spent several days at the Tambina project in mid-April focused on the centre and south-east sections of the tenure.

The objective of the trip was to follow up on areas that have been previously identified as highly prospective for gold mineralisation.

Ten samples (20-kilogram bags) were collected, with all returning visible gold in pan concentrates comprising particles ranging from fine to ≤ 1millimetre and occasional grain ≤ 3 millimetres.

Using a detector, nine nuggets were found in the soil nearby with the largest 3.2 grams and the remainder ≤ 1 gram.

Significance of in-pan concentrates and nuggets

With the discovery of fine gold from the in-pan concentrates and nuggets, the geology team believes there is sufficient anecdotal evidence to confirm an in-situ formation rather than one transported in.

Consequently, this means gold mineralisation could be more extensive than initially expected.

In turn, this is the first positive concrete step, albeit small, towards re-commencing small-scale mining operations at Tambina.

Assay results awaited to draw more definitive conclusions

West Wits chairman Michael Quinert said: “The notable feature from the geology team’s second field visit to the Tambina project is the discovery of gold in all twenty samples.

“While assay results are necessary to draw more definitive conclusions, the preliminary view is the gold mineralisation is likely extensive which is the first step towards potentially recommencing small-scale mining operations.”

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Wed, 02 May 2018 11:02:00 +1000 http://www.proactiveinvestors.com.au/companies/news/196199/west-wits-mining-discovers-visible-gold-in-all-samples-from-the-tambina-project-196199.html
<![CDATA[News - West Wits Mining is an emerging conglomerate-hosted gold producer ]]> http://www.proactiveinvestors.com.au/companies/news/194816/west-wits-mining-is-an-emerging-conglomerate-hosted-gold-producer-194816.html West Wits Mining Ltd (ASX:WWI) is targeting conglomerate-hosted gold with a focus on two regions, the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

The company has gold-producer status through its 66.6% owned Witwatersrand Basin Project (WBP) in South Africa.

Historically, the WBP produced 41 million ounces at 5 g/t and West Wits is in the process of ramping up gold mining operations.

The exploration-stage, wholly-owned Mt Cecelia and Tambina projects in the Pilbara region have WBP-style gold mineralisation.

Prolific gold mining address

The WBP comprises two historic mining centres known as the Durban Roodepoort Deep and the Rand leases.

The leases are on the northern edge of the Witwatersrand Basin in the Central Rand Goldfield immediately southwest of Johannesburg.

Mining has been taking place within these areas since the discovery of the goldfields in 1886.

During that time up to seven different gold-bearing conglomerate horizons have been mined from surface down to a depth of 3,100 metres.

Historical resource was 12.82 million ounces

The previous owners of the WBP leases had a historical mineral resource of 87.9 million tonnes grading 4.6 g/t for 12.82 million tonnes of gold.

This resource was defined with the JORC Code 1997 and is not compliant with the JORC Code 2012.

However, this resource has been used to derive a JORC 2012 compliant resource which stands at 29.6 million tonnes grading 3.4 g/t gold for 3.26 million ounces.

This resource only includes ounces to a 1,500-metre depth from surface and does not include deep underground material.

Gold production at Kimberley Central Open Pit

Open pit mining commenced at the Kimberley Central open pit in June 2017.

During the month of December 2017, 1,020 ounces of gold were produced at a cash cost of about US$800 per ounce.

After the split with joint venture partner this resulted in net cash proceeds of $400,000.

At January 2018, the current resource at the Kimberley Central open pit was sufficient to sustain production for another 10-12 months.

That said, 17 targets have been identified for both open-pit and underground development.

Building towards 100,000 ounces per annum

During April 2018, West Wits submitted two mining permit applications to enable a substantial increase in gold production.

The company expects that withstanding delays, this will facilitate a material increase in ore production within the next 4 to 6 months.

However, the main focus remains achieving acceptance of the lodged mining rights application over the entire tenement area.

Securing full mining rights is critical for achieving full production by 2021-22, as several open pit and underground operations can be run concurrently.

The next production opportunities at WBP are the Main and South Central Open Pit, and the Main and South East Open Pit.

Pilbara conglomerate-hosted gold rush

During 2017, Australia experienced a 21st-century gold rush after multiple conglomerate-hosted gold discoveries were made in the Pilbara region.

In October 2017, West Wits acquired the Mt Cecelia project, known to host Hardy Formation rock groups, part of the Lower Fortescue Group.

Two of the high profile Novo Resources’ (TSX-V:NVO) key projects are both the Lower Fortescue Group, which is the same system within Mt Cecelia’s project area.

Mt Cecelia’s geology is consistent with the Witwatersrand-style conglomerate gold mineralisation found in South Africa.

This put the company in a unique position to be able to leverage its geology team’s hands-on experience in the Witwatersrand Basin to expedite understanding the Mt Cecelia project area.

Tambina Project already has three granted mining leases

In January 2018, West Wits completed the acquisition of its second Pilbara project, Tambina.

The project’s key point of difference is the project’s three granted mining leases, which fast-tracks the commencement of any identified opportunity for mining operations materially faster than many peers.

The acquisition included a substantial exploration database including drilling, geophysics and sampling data.

READ: West Wits Mining eyes conglomerate hosted gold targets in the Pilbara

In March 2018, West Wits commenced preparations for their inaugural field trip to confirm the location of conglomerate hosted gold targets.

The intention is to re-commence small-scale mining operations as soon as feasible.

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Thu, 12 Apr 2018 15:47:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194816/west-wits-mining-is-an-emerging-conglomerate-hosted-gold-producer-194816.html
<![CDATA[News - West Wits Mining submits two mining permits, on track for gold production increase ]]> http://www.proactiveinvestors.com.au/companies/news/194807/west-wits-mining-submits-two-mining-permits-on-track-for-gold-production-increase-194807.html West Wits Mining Ltd (ASX:WWI) has submitted two mining permit applications to enable a substantial increase in gold production from its Witwatersrand Basin Project (WBP) in South Africa.

The permit applications each cover five-hectare open pit operations with high-grade targets.

The company expects that withstanding delays, this will facilitate a material increase in ore production within the next 4 to 6 months.

WBP remains cash flow positive

West Wits’ chairman Michael Quinert said: “WWI’s strategic transformation is now well underway and, providing the South African regulator approves both WBP mining permits in a timely manner, the board expects a material increase in production and net cash flow towards year end.

“However, the board’s core goal remains securing mining rights over the entire WBP tenement in the first half of 2019 and ramping up production.

“The WBP remains cash flow positive and on a self-sustaining foothold.”

Securing full mining rights is on track

The main focus remains on achieving acceptance of lodgement for the mining rights application over the entire tenement area by the April 2018 deadline, which is on track.

Securing full mining rights is critical for achieving full production by 2021-22, as several open pit and underground operations can be run concurrently.

As the regulatory approval process could take up to 12-months, this provides the geology team ample time to focus on further proving up the resource to be JORC-compliant.

READ: West Wits Mining chairman increases shareholding ahead of Tambina gold exploration

West Wits targets conglomerate-hosted gold and is focused on two premier regions, the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

The WBP is within a world-leading goldfield and hosts a 3.26 million ounce deposit from which it is producing gold.

During December, the company produced 1,020 ounces at a cash cost of around US$800 per ounce from the Kimberley open pit.

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Thu, 12 Apr 2018 11:55:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194807/west-wits-mining-submits-two-mining-permits-on-track-for-gold-production-increase-194807.html
<![CDATA[News - West Wits Mining chairman increases shareholding ahead of Tambina gold exploration ]]> http://www.proactiveinvestors.com.au/companies/news/194292/west-wits-mining-chairman-increases-shareholding-ahead-of-tambina-gold-exploration-194292.html West Wits Mining Limited’s (ASX:WWI) executive chairman Michael Quinert has increased his shareholding in the company with an on-market purchase of about 230,000 shares.

This brings his holding to nearly 19 million ordinary shares and 12 million options.

The company’s shares increased by about 25% in March following a new board appointment and news that the company was ready to start work at the Tambina Gold Project.

Tambina a potential share price catalyst

West Wits is reviewing plans to recommence small-scale mining operations at the Tambina project in Western Australia.

The company is attracted to conglomerate gold mineralisation in the region.

Use of existing data

Utilising significant legacy data, the geology team is due to commence its inaugural field trip to confirm the location of conglomerate hosted gold targets.

This could potentially result in Tambina contributing modest cashflow towards the end of this year.

On this note, Quinert said: “The board has decided to take an opportunistic approach to the Tambina asset and is actively reviewing plans to recommence small-scale mining operations.” 

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Thu, 05 Apr 2018 13:15:00 +1000 http://www.proactiveinvestors.com.au/companies/news/194292/west-wits-mining-chairman-increases-shareholding-ahead-of-tambina-gold-exploration-194292.html
<![CDATA[News - West Wits Mining director doubles his stake as Tambina activity ramps up ]]> http://www.proactiveinvestors.com.au/companies/news/193978/west-wits-mining-director-doubles-his-stake-as-tambina-activity-ramps-up-193978.html West Wits Mining Limited’s (ASX:WWI) exploration director Andrew Tunks has nearly doubled his stake in the company with the purchase of 475,000 shares.

Given his position at the pointy end of operations, Tunks' decision is a strong endorsement of the company’s exploration prospects as it targets projects in Australia and South Africa. 

READ: West Wits Mining eyes conglomerate hosted gold targets in the Pilbara

Management said on Wednesday that it was considering recommencing small-scale mining operations at the Tambina Gold Project in Western Australia later in the year.

The forerunner to this would be the identification of suitable conglomerate hosted gold targets, an initiative that Tunks would be heavily involved in.

Utilisation of legacy data

With remaining leases and substantial historical geological data, taking a two-pronged approach at Tambina makes sense.

Management indicated that if it were to progress along the lines of developing a small-scale production project, Tambina could contribute modest cash flow towards the end of 2018.

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Thu, 29 Mar 2018 08:29:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193978/west-wits-mining-director-doubles-his-stake-as-tambina-activity-ramps-up-193978.html
<![CDATA[News - West Wits Mining eyes conglomerate hosted gold targets in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/193926/west-wits-mining-eyes-conglomerate-hosted-gold-targets-in-the-pilbara-193926.html West Wits Mining Limited (ASX:WWI) is aiming to identify conglomerate-hosted gold targets at its Tambina project in Western Australia, to test whether small-scale mining operations can recommence.

Utilising significant legacy data made available from the vendors, the geology team are due to commence their inaugural field trip to confirm the location of conglomerate hosted gold targets.

This could potentially result in Tambina contributing modest cashflow towards year end.

West Wits chairman Michael Quinert said: “The board has decided to take an opportunistic approach to the Tambina asset and is now actively reviewing plans to recommence small-scale mining operations there, post an upcoming site visit by the geology team to identify conglomerate hosted gold targets”

Gold producer with operations in two conglomerate-hosted gold regions

West Wits is a gold producer with operations in two regions that have conglomerate-hosted gold - Pilbara in Australia and Witwatersrand in South Africa.

The company’s Witwatersrand Basin project (WBP) remains on a self-sustaining trajectory, achieving bi-monthly targets of ore production and net cashflow for the Jan-Feb period.

Quinert added: “Having moved to a bi-monthly reporting structure, the board is pleased to confirm that WBP remains cashflow positive and on a self-sustaining foothold, with cashflow at the upper end of the target range.”

READ: West Wits Mining eyes increased gold production in South Africa

The company is applying for two mining permits to enable a substantial increase in gold production from the WBP.

The recent swearing in of successful mining entrepreneur Cyril Ramaphosa to the presidency points to a favourable turnaround in South Africa’s economic and political environment.

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Wed, 28 Mar 2018 15:39:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193926/west-wits-mining-eyes-conglomerate-hosted-gold-targets-in-the-pilbara-193926.html
<![CDATA[News - West Wits Mining adds expert exploration consultant to board ]]> http://www.proactiveinvestors.com.au/companies/news/193032/west-wits-mining-adds-expert-exploration-consultant-to-board-193032.html West Wits Mining Ltd (ASX:WWI) has promoted its expert exploration consultant, Dr Andrew Tunks, to sit on the company’s board as an executive director.

Dr Tunks will be in charge of the group’s exploration activities in the Witwatersrand Basin of South Africa and Pilbara region of Western Australia.

READ: West Wits Mining eyes increased gold production in South Africa

The company is producing gold from its Witwatersrand Basin Project (WBP) where it has a 3.26 million ounce gold resource.

West Wits continues to fast-track the application for the full-scale mining right across the WBP and plans to submit the paperwork to the government in April.

It is also exploring its Mt Cecelia and Tambina projects prospective for conglomerate-hosted gold in the Pilbara region.

Dr Tunks has been heavily involved with West Wits

For the past five years, Dr Tunks has been the company’s expert exploration consultant overseeing the material expansion in the WBP’s JORC resource.

His experience developing WBP will undoubtedly be useful in the exploration and potential development of the company's Pilbara projects.

Michael Quinert, chairman, said: “With West Wits undergoing a strategic transformation to position itself as a mid-tier gold producer with operations in the Witwatersrand Basin and Pilbara, we need high calibre experienced talent to successfully implement the board’s agenda.

“To this end, Dr Tunks brings a wealth of relevant gold exploration and emerging market experience that West Wits can leverage and utilise.”

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Tue, 13 Mar 2018 12:54:00 +1100 http://www.proactiveinvestors.com.au/companies/news/193032/west-wits-mining-adds-expert-exploration-consultant-to-board-193032.html
<![CDATA[News - West Wits Mining eyes increased gold production in South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/191811/west-wits-mining-eyes-increased-gold-production-in-south-africa-191811.html West Wits Mining Limited (ASX:WWI) is in the process of applying for two mining permits to enable a substantial increase in gold production from its Witwatersrand Basin Project (WBP) in South Africa.

This positive news flow comes at a time when the Rand is strengthening due to improving conditions in South Africa’s political and economic environment.

READ: West Wits Mining board of directors put more skin in the game

Michael Quinert, chairman, said: “The board’s main task for the South African business in 2018 remains clearly focused on fast-tracking the application and approval for full mining rights for the Witwatersrand Basin Project, with submission scheduled for April.

“Upon regulatory approval, this will likely create significant incremental value for shareholders, as it would enable production to be ramped up materially.”

Small scale open pit operations ahead of full scale mining rights

West Wits’ consultants have advised that South African mining laws will allow the company to apply for two mining permits which will enable small scale open pit operations within five hectares.

Target area for new mining permits

This is positive for West Wits as with the depletion of WBP Kimberley Central Open Pit due within 10-12 months, it is important to ensure continuity and preferably, grow ore production and cashflow.

READ: West Wits Mining ramping up cashflow positive gold project in South Africa

The mining permit applications are scheduled to be lodged in March and granted by September, allowing ore production to materially increase during 4Q 2018.

Mining rights application planned in April

West Wits is continuing to fast-track the application for the full-scale mining right across the WBP and is targeting to submit the paperwork to the government in April.

Upon approval, expected within 12-months, the prospective gold production from WBP can be scaled up significantly.

The swearing in of successful mining entrepreneur Cyril Ramaphosa to the presidency points to a favourable turnaround in South Africa’s economic and political environment.

READ: West Wits Mining completes acquisition of conglomerate gold project in the Pilbara ]]>
Mon, 19 Feb 2018 13:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191811/west-wits-mining-eyes-increased-gold-production-in-south-africa-191811.html
<![CDATA[News - West Wits Mining board of directors put more skin in the game ]]> http://www.proactiveinvestors.com.au/companies/news/191034/west-wits-mining-board-of-directors-put-more-skin-in-the-game-191034.html West Wits Mining Limited (ASX:WWI) has issued shares and options to three of its four board members.

Michael Quinert, chairman, and non-executive directors Vincent Savage and Hulme Scholes paid a total of $125,000 for their new stock.

Notably, the share purchases increased Quinert's total holding to 18.7 million shares and Savage's holding to 14.1 million shares.

Unlisted options also issued

Quinert was also issued 12 million unlisted options and Savage was issued 5 million unlisted options.

READ: West Wits Mining completes acquisition of conglomerate gold project in the Pilbara

West Wits Mining is advancing its conglomerate gold exploration and production strategy encompassing projects in South Africa and Western Australia.

It has recently completed the acquisition of three mining leases within the Tambina conglomerate hosted gold project in the Pilbara region of Western Australia.

READ: West Wits Mining ramping up cashflow positive gold project in South Africa

In South Africa, West Wits is planning to secure mining rights across the whole Witwatersrand Basin Project to substantially scale up gold production of circa 1,000 ounces per month.

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Fri, 02 Feb 2018 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/191034/west-wits-mining-board-of-directors-put-more-skin-in-the-game-191034.html
<![CDATA[News - West Wits Mining completes acquisition of conglomerate gold project in the Pilbara ]]> http://www.proactiveinvestors.com.au/companies/news/190789/west-wits-mining-completes-acquisition-of-conglomerate-gold-project-in-the-pilbara-190789.html 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.

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Tue, 30 Jan 2018 11:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190789/west-wits-mining-completes-acquisition-of-conglomerate-gold-project-in-the-pilbara-190789.html
<![CDATA[News - West Wits Mining ramping up cashflow positive gold project in South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/190428/west-wits-mining-ramping-up-cashflow-positive-gold-project-in-south-africa-190428.html West Wits Mining Limited (ASX:WWI) is planning to secure mining rights across the whole Witwatersrand Basin project (WBP) in South Africa to substantially scale up gold production.

READ: West Wits Mining continues to increase gold production in South Africa

With W1 open pit set to deplete within the next 12-15 months, the company is progressing to secure a mining permit for another open pit project (W2) for small scale mining.

Expanding JORC compliant gold resource

Having recently increased the JORC compliant gold resource to 3.26 million ounces of gold (from 1.88 million ounces), the company can carry out a moderate sized mining operation, though further studies are required.

However, given it is clear there is significantly more gold mineralisation within WBP, West Wits is working towards expanding the existing resource.

It is worth noting that the historic resource was 12.8 million ounces of gold under the JORC 1999 code.

Progressing work on mining rights

West Wits is accelerating work towards securing mining rights for the whole WBP in 2018, as this will enable the operation to be substantially scaled beyond the current 1,000 ounces per month (from W1).

However, this is a complex process that requires input from multiple stakeholders and compliance with South Africa’s relatively strict environmental laws – the timeline could extend into 2019.

High-grade ore production at W1 for December 2017 continued to achieve the 10,000-to-15,000 tonnes target range. A total of 1,020 ounces of gold was produced in December.

Rehabilitation work is now commencing at pit one and will progress across all five pits within W1 as the resource is depleted.

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Tue, 23 Jan 2018 12:41:00 +1100 http://www.proactiveinvestors.com.au/companies/news/190428/west-wits-mining-ramping-up-cashflow-positive-gold-project-in-south-africa-190428.html
<![CDATA[News - West Wits Mining's shares halted pending boost to metal inventory ]]> http://www.proactiveinvestors.com.au/companies/news/188848/west-wits-mining-s-shares-halted-pending-boost-to-metal-inventory-188848.html West Wits Mining Ltd (ASX:WWI) has a mineral resource upgrade on the table, and the ASX has granted the company a trading halt to prepare the final details.

West Wits has assets in South Africa, and recently added interests in the Pilbara region of Western Australia which has the potential to host conglomerate gold.

The halt will remain in place until the opening of trade on Tuesday 19th December 2017, or earlier if an announcement is made to the market.

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Fri, 15 Dec 2017 13:55:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188848/west-wits-mining-s-shares-halted-pending-boost-to-metal-inventory-188848.html
<![CDATA[News - West Wits Mining continues to increase gold production in South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/188411/west-wits-mining-continues-to-increase-gold-production-in-south-africa-188411.html West Wits Mining Limited (ASX:WWI) has achieved record monthly gold production in November by mining 14,725 tonnes and 3,760 tonnes of high and medium grade ore respectively at its Witwatersrand Basin Project in South Africa.

Significantly, the operation is now achieving a critical production mass, and scale economies are resulting in a moderation in costs from circa US$1,000 per ounce to less than US$800 per ounce.

More importantly, as a result of selling 1,023 ounces of gold in November, the operations are now on a self-sustaining footing, generating net cashflow towards the higher-end of the $200,000-250,000 range.

This will enable West Wits to fund the expansion of its current JORC 2012 gold resource, explore new open cut mining opportunities within the project area and work on securing mining rights.

West Wits recently renamed its operations in South Africa the Witwatersrand Basin Project (WBP), given its prime location within the Witwatersrand Basin.

The Witwatersrand Basin is considered the world’s premier conglomerate gold producing region.

Since gold mining commenced at WBP more than a century ago, some 30 million ounces of gold were extracted from the circa 50 square kilometre project area, before the previous owner ended operations in 2000.

West Wits is aiming to materially increase the current JORC resource of 1.38 million ounces of gold with the completion of the engineering study focused on an unmined area in the east of the project area.

Interestingly, even without extending the current resource, there is sufficient ore within the Witwatersrand One prospect to sustain current production at 12-15,000 tonnes per month for 12-14 months.

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Thu, 07 Dec 2017 15:38:00 +1100 http://www.proactiveinvestors.com.au/companies/news/188411/west-wits-mining-continues-to-increase-gold-production-in-south-africa-188411.html
<![CDATA[News - West Wits Mining acquiring producing Pilbara conglomerate gold asset ]]> http://www.proactiveinvestors.com.au/companies/news/187577/west-wits-mining-acquiring-producing-pilbara-conglomerate-gold-asset-187577.html West Wits Mining Limited (ASX:WWI) is acquiring three Pilbara conglomerate gold mining leases (Tambina Project), along with a small-scale mining operation currently in place.

Importantly, this geological setting is similar to Novo Resources Corp’s (CVE:NVO) Purdy’s Reward conglomerate gold project in West Pilbara and West Wits’ Mt Cecelia project area.

Last month, the company had pounced on one of the few remaining project areas in the eastern Pilbara (Mt Cecelia) that is prospective for conglomerate gold mineralisation.

READ NEXT: West Wits Mining pounces on one of the latest areas prospective for Pilbara Conglomerate Gold

West Wits will aim to expand operations at the Tambina Project as the acquisition is on three mining leases which are already producing via small scale mining.

With mining operations already producing cash flows, West Wits will be positioned ahead of numerous peers in the Pilbara which are still at the exploration phase.

The Tambina Project has the potential to host a palaeo-placer gold deposit associated with the pyritic conglomerates that are part of the Lower Fortescue Group.

West Wits is aiming to move quickly to undertake further work with a view to delineate a resource and scale up mining operations at the Tambina project.

To expedite this objective, the next phase is further detailed geological work to locate the highest grade areas within the project.

This will initially involve reviewing all past work and then conducting a ground geophysical survey to locate the areas of greatest pyrite concentrations.

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Tue, 21 Nov 2017 22:02:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187577/west-wits-mining-acquiring-producing-pilbara-conglomerate-gold-asset-187577.html
<![CDATA[News - West Wits Mining has next steps for Pilbara gold ]]> http://www.proactiveinvestors.com.au/companies/news/187399/west-wits-mining-has-next-steps-for-pilbara-gold-187399.html West Wits Mining Ltd (ASX:WWI) has been making a highly anticipated move into the Pilbara region of Western Australia, and the ASX has granted the company a trading halt to finalise the next steps.

West Wits will provide details of the potential acquisition of three gold mining leases, while also making a subsequent capital raising.

The halt will remain in place until the opening of trade on Tuesday 21st November 2017, or earlier if an announcement is made to the market.

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Fri, 17 Nov 2017 09:45:00 +1100 http://www.proactiveinvestors.com.au/companies/news/187399/west-wits-mining-has-next-steps-for-pilbara-gold-187399.html
<![CDATA[News - West Wits Mining pounces on one of the latest areas prospective for Pilbara Conglomerate Gold ]]> http://www.proactiveinvestors.com.au/companies/news/186144/west-wits-mining-pounces-on-one-of-the-latest-areas-prospective-for-pilbara-conglomerate-gold-186144.html West Wits Mining Ltd's (ASX:WWI) shares are expected to open stronger this morning following the company pouncing on one of the few remaining project areas in the eastern Pilbara that is prospective for conglomerate gold mineralisation.

West Wits will acquire Northern Reserves Pty Ltd (NRPL) through a scrip based deal.

A significant area within the NRPL application area, known as Mt Cecelia, comprises the Hardy Formation and part of the Lower Fortescue Group.

Two of the high profile Novo Resources’ (TSX-V:NVO) key projects are both the Lower Fortescue Group, which is the same system within Mt Cecelia’s project area.

Mt Cecelia’s geology is consistent with the Witwatersrand-style conglomerate gold mineralisation found in South Africa, where West Wits has the highly complementary Soweto Cluster gold project.

The company is now in a unique position among peers to be able to leverage its geology team’s hands-on experience in the Witwatersrand Basin to expedite understanding the Mt Cecelia project area.

To advance the next steps, West Wits will conduct a capital of up to $1.75 million at $0.017 through a placement and share purchase plan.

Consideration

West Wits will:

- Issue 3,000,000 West Wits shares immediately;
- Issue 52,000,000 West Wits shares on completion;
- Grant 10,000,000 3-year West Wits options with a $0.05 exercise price;
- Issue 10,000,000 West Wits shares and payment of $75,000 upon grant of the licence application;
- Issue up to 35,000,000 West Wits shares upon commencement of a reverse circulation-percussion drilling program within the area comprised in the license application; and
- Pay an aggregate net smelter royalty of 1% of net revenue from production within the licence application.

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Wed, 25 Oct 2017 09:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/186144/west-wits-mining-pounces-on-one-of-the-latest-areas-prospective-for-pilbara-conglomerate-gold-186144.html
<![CDATA[News - West Wits Mining to join hunt for Pilbara gold ]]> http://www.proactiveinvestors.com.au/companies/news/185982/west-wits-mining-to-join-hunt-for-pilbara-gold-185982.html West Wits Mining Ltd (ASX:WWI) is joining Australia's latest gold rush in the Pilbara region of Western Australia.

The recent discovery of gold nuggets in Hardey Formation conglomerates by the Artemis Resources Ltd (ASX:ARV) / Novo Resources joint venture at Purdy’s Reward has highlighted the potential for sediment hosted Witwatersrand style mineralisation in the area.

West Wits has this morning been granted a trading halt by the ASX, pending details of a proposed acquisition of a tenement application in the Pilbara, along with a subsequent capital raising.

The halt will remain in place until the opening of trade on Wednesday 25th October 2017, or earlier if an announcement is made to the market.

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Mon, 23 Oct 2017 11:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/185982/west-wits-mining-to-join-hunt-for-pilbara-gold-185982.html
<![CDATA[News - West Wits Mining continues to ramp up South African gold operations ]]> http://www.proactiveinvestors.com.au/companies/news/171573/west-wits-mining-continues-to-ramp-up-south-african-gold-operations-171573.html The company’s shares are up 11.1% intra-day, currently trading at $0.03.

In December, 9,000 tonnes were extracted as the ramp in production continues to a targeted production of 12,000 tonnes per month by the end of calendar Q1 2017.

The company is aiming for a production rate of 15,000 tonnes per month eventually.

The head grade from the pit is continuing in line with expectations at circa 2 g/t gold.

West Wits is assessing the possibility of expanding the two pits that are currently being mined.

Additionally, planning work is also being undertaken to substantially increase the size of the project, with the addition of three further pits along strike.

Various scenarios for optimising the project’s potential are being reviewed by West Wits’ consultants with the head contractor.

Further meetings to finalise the mine plan and the definitive agreements are planned to commence in the first week of February with an agreement to be finalised by the end February.

The company has received $170,000 for the period of operations from commencement in August up until end November 2016, which saw some 14,000 tonnes of ore processed.

West Wits is expected to provide further updates for the Sol Plaatje Project as production continues to increase, expanded mine plans are finalised and agreements executed.

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Fri, 13 Jan 2017 09:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/171573/west-wits-mining-continues-to-ramp-up-south-african-gold-operations-171573.html
<![CDATA[News - West Wits Mining to start generating revenue from Soweto gold cluster ]]> http://www.proactiveinvestors.com.au/companies/news/168112/west-wits-mining-to-start-generating-revenue-from-soweto-gold-cluster-168112.html Under agreement with a mining contractor, West Wits will be paid a price equal to 0.6 grams of gold (circa US$25) for each tonne of ore mined.

Allowing for recoupment of start-up costs, the company is expected to receive payments for the ore in the next 3-4 weeks.

West Wits is anticipating to mine 6,000 tonnes of ore in November.

Thereafter, the mining contractor projects a steady rise of ore tonnage to about 14-15,000 tonnes per month.

130,000 tonnes of ore is scheduled for extraction in Stage 1 at the Sol Plaatje over 12 months followed by a 50,000 tonnes schedule in Stage 2 over 6 months.

Further to the per-tonne payment, there is also a potential upside through a 50:50 profit share after costs and priority payments.

The proceeds from mining at the Sol Plaatje will allow West Wits to expedite its exploration and development plans for further on surface and near surface projects within the Soweto Cluster.

The Soweto Cluster has total resources of 12.7 million tonnes, containing 1.374 million tonnes of gold grading 3.38 g/t gold.

Notably, head grades delivered to the mill to date have been in line with expectations at circa 2 g/t gold, with processing recoveries exceeding the projected 85%.

West Wits’ share price has increased 72% during the past 6 months, last trading $0.031.

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Thu, 27 Oct 2016 11:00:00 +1100 http://www.proactiveinvestors.com.au/companies/news/168112/west-wits-mining-to-start-generating-revenue-from-soweto-gold-cluster-168112.html
<![CDATA[News - West Wits Mining Ltd passes milestone on monetising gold project ]]> http://www.proactiveinvestors.com.au/companies/news/165288/west-wits-mining-ltd-passes-milestone-on-monetising-gold-project-70390.html West Wits Mining Ltd (ASX:WWI) has crossed an important milestone by commencing mining at the Sol Plaatjies Project,  within the Soweto Project in Johannesburg, South Africa.

First stage plans at Sol Plaatjies provide for extraction of up to 130,000 tonnes of ore over 12 months with a further 50,000 tonnes identified in the second stage.

The total JORC 2012 resource at the Soweto Project is 1.32 million ounces of gold at 3.36 g/t gold (2.0 g/t gold cut-off).

The work at Sol Plaatjies will involve the removal, rehabilitation and processing of a 1,500 metre section of the Kimberley Reef outcrop.

The presence of the reef had, in the past, attracted activity from illegal miners, which in turn led to significant social challenges in the area.

Under the terms of an agreement with a mining contractor, proceeds from the project will be first paid to the contractor for the cost of extracting and processing each tonne of ore.

After these costs have been reimbursed, West Wits will be paid at a rate equal to the prevailing price of 0.6 grams of gold (currently circa US$25) for each tonne of ore mined from the project.

After West Wits has been paid, the contractor will be entitled to a payment equal to the value of 0.4 grams of gold for each tonne with any additional surplus cash to be then shared equally between West Wits and the contractor.

Following extraction of the reef, the land would be progressively rehabilitated to enable the land owner to start development of an affordable housing project.

Sol Plaatjies is expected to provide cash flows to West Wits to expedite the company’s development plans for the larger Soweto Cluster area.

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 15:30:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165288/west-wits-mining-ltd-passes-milestone-on-monetising-gold-project-70390.html
<![CDATA[News - West Wits Mining Ltd among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/165287/west-wits-mining-ltd-among-asx-gainers-intra-day-70381.html Thursday's leading ASX % Gainers intra-day.

Company NameCodeLastChangeVolume West Wits Mining Ltd WWI $0.049 36.11% 1,370,737 Key Petroleum Ltd KEY $0.004 33.33% 1,481,812 Manas Resources Ltd MSR $0.004 33.33% 145,375,633 Legend Mining Ltd LEG $0.012 33.33% 13,526,600 Dark Horse Resources Ltd DHR $0.009 28.57% 2,849,360 Segue Resources Ltd SEG $0.005 25% 507,468 Argonaut Resources NL ARE $0.017 21.43% 19,955,676 Haranga Resources Ltd HAR $0.006 20% 70,000 Novogen Ltd NRT $0.110 19.57% 3,081,523 Resource Development Group Ltd RDG $0.025 19.05% 443,010

 

Proactive Investors is a global leader reporting financial news, media, research and hosts events for listed emerging growth companies and investors across four continents.

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Thu, 11 Aug 2016 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/165287/west-wits-mining-ltd-among-asx-gainers-intra-day-70381.html
<![CDATA[News - West Wits Mining to reveal capital raising details ]]> http://www.proactiveinvestors.com.au/companies/news/158456/west-wits-mining-to-reveal-capital-raising-details-64534.html West Wits Mining (ASX:WWI) has gold interests in Indonesia and South Africa, and the now the company is heading to market to increase its cash position.

The ASX has granted the company a trading halt to prepare, with its shares placed in pre-open.

The halt will remain in place until the opening of trade on Thursday 17th September 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Tue, 15 Sep 2015 13:00:00 +1000 http://www.proactiveinvestors.com.au/companies/news/158456/west-wits-mining-to-reveal-capital-raising-details-64534.html
<![CDATA[News - West Wits Mining, Triton Minerals among ASX % Gainers intra-day ]]> http://www.proactiveinvestors.com.au/companies/news/158455/west-wits-mining-triton-minerals-among-asx-gainers-intra-day-61562.html Wednesday’s leading ASX % Gainers intra-day.

NameCodeLastChangeVolume Thomas Services ASX:THO $0.011 83.3% 89,087 Triton Minerals ASX:TON $0.56 67.2% 55,075,439 West Wits Mining ASX:WWI $0.011 57.1% 200,000 Paradigm Metals ASX:PDM $0.003 50% 6,944,000 Lakes Oil ASX:LKO $0.003 50% 306,667 Continental Coal ASX:CCC $0.003 50% 5,883,057 Northern Mining ASX:NMI $0.027 42.1% 546,818 Rampart Energy ASX:RTD $0.004 33.3% 250,000 Delecta Limited ASX:DLC $0.004 33.3% 1,000,000 Ausenco Limited ASX:AAX $0.29 28.9% 400,292

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

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Wed, 01 Apr 2015 14:30:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158455/west-wits-mining-triton-minerals-among-asx-gainers-intra-day-61562.html
<![CDATA[News - West Wits Mining to start trial mining at Indonesian gold project ]]> http://www.proactiveinvestors.com.au/companies/news/158454/west-wits-mining-to-start-trial-mining-at-indonesian-gold-project-49075.html West Wits Mining (ASX: WWI) is now focusing on trial mining its Derewo River Gold Project in Indonesia’s Papua Province after completing an airstrip.

The company will carry out the trial mining using a conventional alluvial recovery circuit prior to receiving the concentrator on order from Malaysia.

This recovery circuit is being broken down into sections and weighed for transport with the boxes being flown in by helicopter from tomorrow.

The excavator used for the airstrip will install a number of culverts on the access road to further improve its drainage on its way to the mine site.

West Wits noted that final works such as installation of wind socks as well minor widening of one section of the airstrip is being carried out and that it would be capable of receiving aircraft later this week.

The Derewo project, located the Papua province of Indonesia, is a high grade placer deposit, that shows early stage similarities with discoveries on the PNG side of New Guinea including Porgera, Edie Creek, and Wau.

It is also located 110 kilometres north west of Freeport McMoRan's Grasberg complex.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Mon, 14 Oct 2013 16:20:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158454/west-wits-mining-to-start-trial-mining-at-indonesian-gold-project-49075.html
<![CDATA[News - West Wits Mining edges close to cash flows with infrastructure at Indonesian gold project ]]> http://www.proactiveinvestors.com.au/companies/news/158453/west-wits-mining-edges-close-to-cash-flows-with-infrastructure-at-indonesian-gold-project-46303.html West Wits Mining (ASX:WWI) has started construction of an airstrip, a key piece of infrastructure, to progress its Derewo River gold project in Indonesia.

A concentrator will also be procured from Malaysia as part of West Wits' plan to develop a small scale gravity recovery circuit for trial mining. Completing the airstrip is key as the concentrator will be flown into the project site in modular sections and then reassembled.

This circuit will allow the company to generate some cash flow but will also provide valuable data regarding the processing of the alluvial gravels for the main hydraulic alluvial circuit.

The Derewo project, located the Papua province of Indonesia, is a high grade placer deposit, that shows early stage similarities with discoveries on the PNG side of New Guinea including Porgera, Edie Creek, and Wau.

It is also located approximately 110 kilometres north west of Freeport McMoRan's Grasberg complex.

Following the completion of a new road, access has been gained to the site of the proposed airstrip. Construction of the airstrip should be completed over the next 4-5 weeks.

Once the airstrip is completed, development of water infrastructure and storage facilities for the hydraulic alluvial circuit will begin.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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Fri, 02 Aug 2013 15:20:00 +1000 http://www.proactiveinvestors.com.au/companies/news/158453/west-wits-mining-edges-close-to-cash-flows-with-infrastructure-at-indonesian-gold-project-46303.html
<![CDATA[News - West Wits Mining to acquire Indonesian gold project, launches capital raising ]]> http://www.proactiveinvestors.com.au/companies/news/158452/west-wits-mining-to-acquire-indonesian-gold-project-launches-capital-raising-13644.html West Wits Mining (ASX: WWI) has signed an agreement to acquire the Derewo River Gold project, located in Indonesia, from Paniai Gold.

Consideration for the deal is all scrip and includes; 80 million shares, 46 million performance shares subject to Derewo producing 20,000 ounces of gold within 2 years and 12.5 million options exercisible at $0.08 within 5 years.

Derewo consists of mining rights and exploration registered applications over 129,000 hectares centred on the Derewo River.

The project includes; a 50% interest in existing alluvial mining projects, and a 50% interest in exploration registered applications, (with the right to increase to 80%), to target the source of the Derewo River alluvials.

To provide funding for exploration at the new project, West Wits has launched a capital raising.

A share placement will raise up to A$3 million, pending shareholder approval, with a SPP to potentially raise an additional $500,000.

 

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Thu, 03 Feb 2011 11:44:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158452/west-wits-mining-to-acquire-indonesian-gold-project-launches-capital-raising-13644.html
<![CDATA[News - West Wits Mining in trading halt pending capital raising and acquisition announcement ]]> http://www.proactiveinvestors.com.au/companies/news/158451/west-wits-mining-in-trading-halt-pending-capital-raising-and-acquisition-announcement-13563.html West Wits Mining (ASX: WWI) has requested a trading halt pending release of an announcement about a capital raising and acquisition.

The halt will last until an announcement is made or commencement of trading on Thursday 3rd February 2011.

In November West Wits had some positive finds at Livingstone Reef in South Africa  with some high grade gold found in initial rock chip sampling.

The LIP Target is within the company's West Wits lease, and covers a 1 kilometre section of the Livingstone Reef conglomerate package, which has historically been a source of gold production from open cut and underground mining operations.

West Wits will conduct sampling and follow‐up drilling to test the down dip and continuity of the mineralisation in early 2011.

The company has a conceptual target of 3.95‐5.20 million gold ounces and 17‐22 million pounds of uranium.

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Tue, 01 Feb 2011 14:46:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158451/west-wits-mining-in-trading-halt-pending-capital-raising-and-acquisition-announcement-13563.html
<![CDATA[News - West Wits Mining finds high grade gold in rock chips at new LIP Target ]]> http://www.proactiveinvestors.com.au/companies/news/158450/west-wits-mining-finds-high-grade-gold-in-rock-chips-at-new-lip-target-11421.html There has been some positive finds at Livingstone Reef in South Africa with some high grade gold found in initial rock chip sampling by West Wits Mining (ASX: WWI).

Rock chip highlights from 32 samples include:

- 15.03g/t gold;
- 9.43g/t gold;
- 7.71g/t gold;
- 5.95g/t gold; and
- 5.81g/t gold.

The LIP Target is within the company's West Wits lease, and covers a 1 kilometre section of the Livingstone Reef conglomerate package, which has historically been a source of gold production from open cut and underground mining operations.

West Wits will conduct sampling and follow‐up drilling to test the down dip and continuity of the mineralisation in early 2011.

The company has a conceptual target of; 3.95‐5.20 million gold ounces and 17‐22 million pounds of uranium.

West Wits currently has A$1 million cash in bank.

 

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Thu, 04 Nov 2010 13:40:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158450/west-wits-mining-finds-high-grade-gold-in-rock-chips-at-new-lip-target-11421.html
<![CDATA[News - West Wits Mining confirms gold mineralisation in Monarch Pit area, South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/158449/west-wits-mining-confirms-gold-mineralisation-in-monarch-pit-area-south-africa-3306.html African-focused West Wits Mining (ASX:WWI) has completed a follow-up mapping and channel sampling program in the historical Monarch Pit area, where significant gold values have been returned.

The Monarch Pit area is the southern strike continuation of the Emerald Project, 1.2km to the north, near Johannesburg, South Africa.

The program was completed due to gold values previously reported in remnant conglomerate reef sitting in the base of the pit as well as in existing stockpiles in and around the pit area.

The basal conglomerate package has returned multiple mineralised intervals over the sampled strike length of 200m. The mineralisation is open along strike to the north and down dip, with widths up to 5m, indicating to the company that there is potential to define additional economic gold mineralisation.

The significant gold values from channel samples across the remnant reef horizons included 4.04m @ 2.53 g/t Au, 5.21m @ 2.75 g/t Au 3.86m @ 3.52 g/t Au and 5.15m @1.72 g/t Au.

The area investigated comprises shallow open pit workings completed in the early 1990s with mining concentrated on the extraction of the Kimberley Reef and Black Reef from surface to an approximate 30 metre vertical depth. Coffey Mining was engaged to complete the sampling and mapping program to determine the extent and distribution of gold within the Monarch Pit. The program involved excavating seven channels or shallow trenches across the width of the pit to expose the individual conglomerate and interbedded quartzite units which were then sampled and submitted for gold analysis.

West Wits managing director Grant Ferguson said the company believed the Monarch Pit sampling program would provide a valuable window into the geology, gold distribution and mining techniques applicable to the proposed mining of the Emerald Project.

"The company also believes that additional drilling within the pit and along strike to the north, along the line of the Kimberley Reef, has the potential to define further near surface gold mineralisation," Mr Ferguson said.

"The Monarch results are seen as very encouraging by the company’s exploration team, firstly as potential, easily accessible, initial feedstock for production whilst the initial Emerald Project pit development is underway.

"And secondly, as further evidence that the 1.2 km untested zone of the Kimberley Reef between the Monarch Pit and the recently announced Emerald Reserve has the potential for significant near surface gold mineralisation."

A drilling program has been designed to test the near surface potential of this zone of Kimberley Reef and will be completed in the first quarter of 2010.

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Mon, 16 Nov 2009 14:07:00 +1100 http://www.proactiveinvestors.com.au/companies/news/158449/west-wits-mining-confirms-gold-mineralisation-in-monarch-pit-area-south-africa-3306.html
<![CDATA[News - West Wits Mining close to toll treatment deal at Emerald Gold Project, South Africa ]]> http://www.proactiveinvestors.com.au/companies/news/158448/west-wits-mining-close-to-toll-treatment-deal-at-emerald-gold-project-south-africa-1586.html The Mineral Resource at the Emerald Project owned by West Wits Mining Ltd (ASX: WWI), 20km west of Johannesburg, South Africa has been upgraded. Total resource is now 124,000 ounces of gold at 1.73 g/t, of which 95,600 ounces is measured resource at 1.81 g/t.

West Wits will focus on bringing the Emerald Project into production through working near surface high grade mineralisation via open cut mining operations to create early cash flows for shareholders. After which, the deeper more significant targets can be worked. Existing underground infrastructure will significantly reduce the capital expenditure required to access the targeted underground areas.

Grant Ferguson, Executive and Technical Director said the resource upgrade of the Emerald Mineral Resource has reinforced the company's approach, focussing on establishing extensive near surface mineralisation with the intention of converting the Mineral Resources into Ore Reserves. The proximity to potential toll treatment facilities and shallow depth of this resource indicates there are reasonable prospects for eventual economic extraction.

West Wits has finalised metallurgical studies which returned overall gold recoveries of 93%, including 30% gravity gold recoveries.  Ground surveys to site the pit and accommodate relevant infrastructure have been completed.  Toll treatment discussions have commenced with various gold processing operators in the area.

Importantly for shareholders, West Wits believes a tolling agreement is anticipated to be completed over the coming weeks.

Pit optimisations and environmental studies have commenced and Ore Reserve estimations are anticipated to now be completed by mid July 2009.

The Witwatersrand Basin, where West Wits has its project areas is regarded as one of the largest mineralised gold and uranium systems in the world and is widely known for its rich, continuous multiple reef ore-bodies.

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Fri, 29 May 2009 08:57:00 +1000 http://www.proactiveinvestors.com.au/companies/news/158448/west-wits-mining-close-to-toll-treatment-deal-at-emerald-gold-project-south-africa-1586.html