THE Witwatersrand Basin Project (WBP) was generating free cash flow which would be channelled into developing the prospect, said the company behind the gold project, West Wits Mining.
Presenting at the Paydirt Africa Down Under conference in Perth, Western Australian, West Wits Mining principal geologist, Manie Swart, said monthly production of some 15,000 tonnes of ore at a grade of 2 grams per tonne (g/t) was being generated by the company. Activities are currently underway at the Kimberley Central Open Pit which had sufficient gold reserves to sustain production for the next eight to 10 months.
“A key plank in the production growth planning is the advancement of two small-scale mining permits at Kimberley West and Main & South Central in the WBP area,” Swart said. “Upon granting, the mining license applications will enable West Wits to achieve the transition from a junior gold explorer with small, cash-flow positive operations into a mid-tier gold producer,” he said.
The Witwatersrand Basin area where the West Wits WBP project is located is the world’s biggest gold footprint, having already produced more than 40% of all gold mined to date. West Wits’ project area has historically produced 41 million ounces at 5g/t. However, the company said there was still significant areas of virgin ground, untouched by previous historic mining, with expansive open-pit opportunities.
To date, the company has identified 12 targets for both open-pit and underground development, it said.
