Mincor is currently investigating the potential for developing relatively small, near-surface gold mining operations on these properties, and in early June reported that its gold mineral resource inventory had increased to 239,000 oz of contained gold across six prospects, up from zero at the start of the year.

About 75% of the resources are hosted in five prospects near Widgiemooltha, within Mincor’s long-standing area of nickel mining operations. The remaining 25% are hosted in the Jeffreys Find deposit near Norseman, about 90 km to the south.

Mincor initiated feasibility studies at Jeffreys Find in early May. This work is proceeding rapidly, and Mincor is now considering a near-term drilling program to obtain metallurgical samples and test certain mining assumptions.

Subsequently, in early June, the company initiated feasibility studies on the five Widgiemooltha-area prospects. If this work produces positive results, additional, more detailed studies, including drilling, may be warranted.

Mincor anticipates that these six gold prospects may be developed to establish near-term cash-fl ows through the mining of several open pits in sequence, with the ore processed through toll treatment arrangements with existing, third-party gold processing plants in the district.