West Wits Mining Ltd

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ASX:WWIOTCQB:WMWWF

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West Wits Mining nears new prospecting right approval as appeal dismissed

Last updated: 11:25 11 Apr 2024 AEST, First published: 10:56 11 Apr 2024 AEST

South Africa’s Minister of Forestry, Fisheries and the Environment (DFFE) has dismissed an appeal contesting the application by West Wits Mining Ltd (ASX:WWI, OTCQB:WMWWF) for a new sought-after prospecting right (PR) adjacent to the company's Witwatersrand Basin Project in Johannesburg.

The dismissal of the appeal clears the path for the formal granting of the prospecting right application, which is expected in the near future and marks a significant step toward a material updating of the West Wits’ existing 4.28-million-ounce gold mineral resource estimate.

In its PR application, West Wits met all stipulated criteria and achieved all prerequisites. Consequently, in May 2023, the South African Department of Mineral Resources and Energy (DMRE) granted its approval of the Environmental Authority — a prerequisite for the issue of the PR.

However, in July 2023, a formal appeal was lodged against the environmental assessment decision and the PR application with the DFFE. West Wits lodged a response, asserting that the appeal lacked merit and should be dismissed.

Appeal dismissed

The company has now received notification that the appeal has been dismissed. This opens the way to allow for the execution and registration of the PR by the DMRE.

The primary objective behind obtaining this prospecting area, covered by the new PR, is to add mineral resources that will supplement the substantial 4.28 million ounce resource within the existing mining right footprint.

West Wits says that once the PR has been executed, it will announce the update to its mineral resource estimate statement for the Witwatersrand Basin Project.

The new PR will also allow for a significant extension of the operational lifespan of West Wits' Kimberly Reef mining activities at Qala Shallows.

The successful granting of this new PR will enhance the already sizeable mineral resource base and increase the scale of the Qala Shallows Mine, reinforcing the project's overall viability. Upon granting, West Wits anticipates a substantial increase in its mineral resource inventory for the project.

The PR application's geographical position relative to West Wits' existing mining right. (Witwatersrand Basin Project mining right in blue; prospecting right application in yellow).