WIN Metals Secures Modular Gravity Plant Option for Radio Gold Project

Strategic Acquisition of Processing Infrastructure

WIN Metals Ltd (ASX:WIN) has secured a six-month option to acquire a modular gravity processing plant (MGP) from Tungsten Mining NL (ASX:TGN), a move that could materially reduce capital costs and accelerate development of its Radio Gold Project in Western Australia. The MGP includes essential grinding and gravity recovery components tailored to the proposed 120,000 tonnes per annum (tpa) throughput, directly supporting WIN’s onsite processing strategy.

The plant, originally built in 2014 for tantalite ore processing, has been idle since 2017 but remains in excellent condition. Its ball mill and design capacity align closely with WIN’s targeted production rate of 15 tonnes per hour, optimising grind size for maximum gold recovery, which previous metallurgical tests at Radio demonstrated could reach up to 87% via gravity methods.

Advancing Engineering and Permitting

WIN has engaged Mining Engineering Services Australia Pty Ltd (MESA) to progress detailed engineering, cost estimation, and development planning for the integration of the MGP into the Radio Gold operation. Concurrently, permitting activities have commenced to recommission the existing tailings dam and processing site, signalling tangible progress toward operational readiness.

Managing Director Steve Norregaard emphasised the practical benefits of the option, highlighting the plant’s fit-for-purpose design and potential to significantly reduce upfront capital expenditure compared to building new infrastructure. This approach aligns with WIN’s focus on capital discipline while advancing the project toward production.

Onsite Processing Favoured Over Tolling

WIN has evaluated alternative processing routes, including ore tolling and purchase agreements, but current market conditions and negotiations have rendered these less attractive than developing an onsite processing facility. Securing the option over the MGP allows WIN to finalise costings, integrate the plant into its financial model, and explore financing options with greater certainty.

The Radio Gold Project itself is well positioned for a restart, with intact and dewatered underground infrastructure and a 2026 mineral resource estimate of 366,000 tonnes at 4.22 g/t gold for 49,600 ounces. This resource underpins the project’s development potential and complements WIN’s broader portfolio of gold, nickel, and lithium assets across Western Australia.

Project Location and Historical Context

Located in the Shire of Yilgarn, approximately 8 km north of Bullfinch and 38 km north of Southern Cross, the Radio Gold Project benefits from established access and a rich mining history dating back to 1918. Past production yielded roughly 71,000 ounces at an average grade of 38 g/t, with recent underground and open pit developments revealing substantial unmined near-surface mineralisation.

Recent drilling and mining studies have refined the understanding of the deposit, supporting the feasibility of a near-term development decision. The option to acquire the MGP fits within this broader narrative of advancing Radio toward production, complementing resource upgrades and exploration successes in the region.