en.Wedoany.com Reported - Manuka Resources Ltd (ASX:MKR) has increased the probable ore reserves at its wholly-owned Wonawinta silver mine in New South Wales by 28%, laying the foundation for the planned restart of gold and silver processing operations this quarter.
The updated ore reserves stand at 7.9 million tonnes grading 50.4 grams per tonne silver, containing a total of 12.8 million ounces of silver.
Compared to the estimate published in May 2025, reserve tonnage has increased by 28% and contained silver by 15%.
Manuka is recommissioning the Wonawinta processing plant, with first gold revenue expected in late July and silver production targeted to commence in the September quarter of 2026.
The new ore reserves comprise shallow oxide mineralisation at depths of less than 60 metres, based entirely on measured and indicated mineral resources.
The reserve estimate covers 7.9 million tonnes of ore grading 50.4 g/t silver, planned for extraction using conventional open-pit drilling, blasting, loading and haulage methods.
Total material movement is estimated at 34.1 million tonnes, with a waste-to-ore strip ratio of 3.4:1.
Mining Associates Pty Ltd completed the updated mining study, including open-pit optimisation, mine design, scheduling and economic analysis.
The reserve open-pit optimisation was based on a silver price of US$50 per ounce, while the financial model used a silver price of US$55 per ounce and an AUD/USD exchange rate of 0.70.
The ore reserves cover the Belah, Bimble, Boundary, Manuka and Pothole open pits, all located within existing mining leases.
Manuka Executive Chairman Dennis Karp said the updated study provides greater confidence in the proposed restart.
Karp said completing the updated mining study marks another significant milestone as Manuka progresses towards restarting mining and processing operations at Wonawinta. The revised ore reserves further enhance confidence in the production restart, while highlighting the quality of the existing mineral resources and the potential for further optimisation as mining resumes.
Wonawinta is fully permitted, and the existing processing plant and supporting infrastructure are in the final stages of refurbishment and upgrade.
Recommissioning activities include recruitment, operational readiness activities, contract finalisation, and installation of upgraded crushing and desliming circuits. The new crushing and desliming equipment, manufactured by Bond Equipment in South Africa, is being transported to site.
Karp said that as the company moves towards first gold revenue later this month, with silver production to commence in the September quarter, the company's focus remains on safely recommissioning operations and achieving the next phase of growth for Manuka.
The processing plant, last operated in 2024, is considered a strategic asset within the Cobar Basin due to its ability to process silver, gold and potentially base metal feedstocks.
Wonawinta's broader mineral resource remains unchanged at 38.3 million tonnes grading 41.3 g/t silver, containing 51 million ounces of silver. During the reserve optimisation, value was only assigned to measured and indicated resources, with inferred resources treated as waste. This leaves room for future drilling, optimisation and resource conversion, potentially extending mine life and increasing the reserve base.
Manuka Resources focuses on precious metals and critical minerals assets, with a portfolio including the Wonawinta silver and base metals project in the Cobar Basin of New South Wales, as well as the nearby Mt Boppy gold project. The company also holds the Taranaki vanadium-titanium-iron project offshore New Zealand.
