Witwatersrand Basin Project Gold Resource Jumps 44% to 7.24Moz at 4.0g/t
West Wits Mining has announced a substantial 44% increase in its gold resource at the Witwatersrand Basin Project, boosting the total to 7.24 million ounces and setting the stage for imminent production at Qala Shallows.
- 2.2 million ounce (44%) increase in global JORC Mineral Resource Estimate
- New Prospecting Right PR 10839 adds 1.2 million ounces at 4.38 g/t gold
- Cut-off grade lowered to reflect higher gold price, unlocking an extra 1 million ounces
- 4 million ounces now classified as Measured and Indicated, enhancing mine planning confidence
- Qala Shallows development on track for first gold pour in March 2026, fully funded
Significant Resource Upgrade
West Wits Mining Limited (ASX, WWI) has delivered a major boost to its flagship Witwatersrand Basin Project (WBP) with a 2.2 million ounce increase in its global JORC 2012 Mineral Resource Estimate. This 44% uplift brings the total resource to 7.24 million ounces of gold at an average grade of 4.0 grams per tonne, reinforcing the project’s status as one of South Africa’s largest undeveloped high-grade gold systems.
The upgrade follows the granting of a new Prospecting Right, PR 10839, which adds 1.2 million ounces at a robust 4.38 g/t gold grade. This new tenure provides a seamless depth extension to the existing mining footprint, particularly extending the Qala Shallows gold mine’s resource base.
Economic Assumptions Drive Cut-off Grade Revision
Reflecting the current gold price environment, West Wits lowered the cut-off grade from 2.0 g/t to 1.24 g/t, based on a gold price assumption of USD 2,850 per ounce. This adjustment unlocked an additional 1 million ounces within the resource estimate, highlighting the project’s resilience and upside potential amid rising gold prices.
Importantly, 4 million ounces of the resource are now classified as Measured and Indicated, categories that provide greater confidence for mine planning and reserve conversion. This classification supports West Wits’ strategy to advance the Qala Shallows development towards steady-state production.
Advancing Towards Production
The Qala Shallows project is progressing well, with the first gold pour scheduled for March 2026. This milestone is fully funded following a recent institutional placement that strengthened the company’s balance sheet. The development aims for a steady-state production rate of 70,000 ounces per annum, underpinning West Wits’ near-term value creation ambitions.
CEO Rudi Deysel emphasised the strategic importance of the resource upgrade, stating it confirms the scale, continuity, and high-grade nature of the Witwatersrand Basin Project. He highlighted that the new prospecting right aligns perfectly with the company’s growth plans, providing a clear pathway for future resource expansion and mine life extension.
Future Exploration and Expansion Plans
Looking ahead, West Wits plans targeted geological programs to further define and expand mineral resources within the expanded footprint. This includes reassessing other reef areas at the lower cut-off grade, ongoing underground sampling, and a diamond drilling program focused on gold and uranium mineralisation.
Additionally, the company intends to advance a scoping study dubbed Project 200, aimed at increasing production capacity and enhancing the overall economics of the Witwatersrand Basin Project. These initiatives signal West Wits’ commitment to leveraging its resource base and scaling operations.
Context in South Africa’s Gold Landscape
The Witwatersrand Basin is historically one of the world’s richest gold-producing regions, having yielded over 1.5 billion ounces to date. West Wits’ project sits within this prolific geological setting, targeting the Kimberley Reefs known for their continuity and high-grade gold mineralisation. The company’s methodical approach to resource modelling and mining aligns with established practices in the region, supported by extensive underground sampling and rigorous assay protocols.
Bottom Line?
With a strengthened resource base and funding secured, West Wits is poised to transition from development to production, but market and operational execution will be key to unlocking full value.
Questions in the middle?
- How will future gold price fluctuations impact cut-off grades and resource economics?
- What are the timelines and capital requirements for expanding beyond Qala Shallows?
- How will the inferred resource categories convert to reserves with further drilling?
