Highlights

  • West Wits Mining launches a 17-hole 5,750-metre diamond programme at Bird Reef Central targeting both uranium resource estimation and infill gold drilling on the same Johannesburg mining right.
  • Bird Reef Central holds a JORC gold resource of 117,600 ounces at 2.66 g/t, with about 65% in measured or indicated categories; uranium remains at exploration target stage only.
  • Cash at 7 October 2026 was about A$36 million following a R236 million senior debt drawdown; no separate drilling budget has been disclosed.
  • Qala Shallows stoping begins February 2027, targeting 10,000–15,000 ounces recovered in 2027 and steady state of 70,000 ounces per year by Q1 2029.

West Wits Mining Limited is preparing to drill a uranium-gold project on its Johannesburg mining right at the same time as it builds its first gold mine there. On 26 October 2026 the company (ASX:WWI) announced a 17-hole, approximately 5,750-metre diamond drilling programme at Bird Reef Central, and its September quarter report confirmed the cash position supporting the work.

The Bird Reef Central Programme

The holes will be spaced about 250 metres apart along roughly 4,000 metres of strike, testing the Bird Reef package between 100 and 400 metres downhole. A contractor is due to mobilise the first rig and begin drilling by the end of November 2026. Every intersection will be assayed for both uranium in the Monarch Reefs and gold in the underlying White Reef.

The work is staged over about six months. Stage one comprises seven holes for 2,100 metres to assess whether a maiden uranium resource can be estimated. Stage two, from January 2027, adds eight holes for 2,900 metres of infill aimed at raising confidence in the gold resource and potentially supporting a feasibility study. Stage three, from February 2027, tests 700 metres of eastward strike extension with two holes for 750 metres.

Resource Versus Exploration Target

Bird Reef Central already hosts a JORC 2012 gold mineral resource of 1.38 million tonnes at 2.66 g/t for 117,600 ounces, reported at a 2.0 g/t cut-off, with about 65% in measured or indicated categories. Uranium is less advanced: the company reports a conceptual exploration target of 10 to 22 million tonnes at 300 to 550 ppm U3O8 for 12 to 16 million pounds of contained U3O8. West Wits states that exploration has been insufficient to estimate a mineral resource and that it is uncertain whether one will be estimated. Historical data from 24 holes drilled in 2008 and three shallow holes in 2022 will be modelled alongside the new results.

Funding and Financial Position

West Wits says the drilling will be funded from existing cash reserves. The quarterly report shows A$17.1 million at 30 September 2026, rising to about A$36 million at 7 October after a second senior debt drawdown of R236 million, or roughly A$21 million. No separate drilling budget has been disclosed. Chief executive Rudi Deysel said the project "gives shareholders a second, independent growth option within the same Mining Right" and that shareholders "can expect regular news flow as results come in."

Qala Shallows

The quarterly report puts the new programme in context. Qala Shallows recovered 112 ounces of gold in the September quarter from development ore toll-treated at Sibanye-Stillwater's Ezulwini plant, down from 227 ounces in the June quarter. Development advanced 456 metres, with a record 200 metres in September. Stoping is scheduled to begin in February 2027. West Wits forecasts 10,000 to 15,000 ounces recovered in 2027, 42,500 ounces in 2028 and 70,000 ounces in 2029, targeting commercial production in the fourth quarter of 2027 and steady state in the first quarter of 2029. The company says its senior loan facility, with about R300 million remaining, fully funds Qala Shallows to steady state.