West Wits Mining (ASX:WWI) reported a 44% increase in the mineral resource estimate for its Witwatersrand Basin project in South Africa to 7.2 million ounces at 4 grams per tonne grade of gold, according to a Monday filing with the Australian bourse.

The update follows the grant of prospecting right 10839, which provides a depth extension to the company's current mining footprint, per the filing.

The company plans to start targeted geological programs to further define and expand mineral resources within the project, the filing said.

Shares rose nearly 3% in afternoon trade Monday.