Westgold Resources (ASX: WGX)

Reported a 107% increase in the Ore Reserve at its Bluebird – South Junction mine near Meekatharra, Western Australia. to 7.2Mtpa at 2.5g/t for 573k ounces of gold.

 

 

.

 

 

 

.

 

 

.

Westgold	ASX / TSX: WGX
Stage	Production + development
Metals	Gold
Market cap	A$2.8 Billion @ A$2.97
Location	Western Australia
Website	www.westgold.com.au

 

 

.

Westgold Doubles Bluebird – South Junction Ore Reserve 107% increase in South Junction Ore Reserve to 7.2Mt at 2.5g/t Au for 573koz.

 

.
Perth, Western Australia, 4 December 2024: Westgold Resources Limited (ASX: WGX, TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to report a 107% increase in the Ore Reserve to 7.2Mtpa at 2.5g/t for 573koz at its Bluebird – South Junction mine near Meekatharra, Western Australia.

 

.
Highlights

Bluebird – South Junction Ore Reserve doubles to 7.2Mt at 2.5g/t Au for 573koz

.■ 107% increase (+296koz) from the August 2024 Ore Reserve – post mining
depletion, demonstrates value enhancement from drilling.
■ Ore Reserve underwritten by updated Mineral Resource Estimate (MRE) of 15Mt
at 2.9g/t Au for 1.4Moz – featuring a Measured and Indicated component of 8.7Mt
at 2.9g/t Au for 814koz Au (refer ASX release: “Bluebird – South Junction Mineral
Resource Grows to 1.4Moz”).

.

.

Drilling programmes to be expanded across Bluebird-South Junction mining complex

.■ Surface and underground drill rigs focussed on infill and extension of the
Bluebird – South Junction Mineral Resource. This system remains open at depth,
along strike and down plunge.
■ New drill targets within 2km of Bluebird mill now being sequenced – including
Great Northern Highway (0.4km), Romsey (1.5km) and Ironbark (2.0km).
Mining studies focussed on maximising orebody extraction underway
■ Widths of +20m at South Junction enables Westgold to move to a highly
productive, high tonnage transverse stoping method – the benefits of which will
see production lift during H2 FY25.

.

.
Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold has delivered a circa 400% increase in the Ore Reserve at Bluebird – South Junction over the past year.

.

“Drilling continues to transform our business, and across the Bluebird-South Junction mining complex we have not yet defined the limits of this ever-expanding system.

.

“Project economics and free cash flow is enhanced by a large, productive underground mine feeding a large processing plant.

 

.

“We have all these ingredients at Meekatharra as the Bluebird South Junction underground mine is the primary ore source feeding the 1.4-1.8M tpa Bluebird processing plant that sits 0.5 km from the portal.

 

.
“With scale comes the opportunity to reduce costs with mine studies to-date showing that the South Junction deposit lends itself to a lower-cost, bulk extraction mining method that will deliver higher ounces-per-vertical metre – underpinning its potential to be a highly effective mining operation on the doorstep of our Meekatharra process plant.

 

.
“Importantly the mineralisation at South Junction remaining open at depth, along strike and down plunge.

 

.
“With multiple surface and underground drill rigs operating, Westgold is confident we will continue to extend and infill the Mineral Resource to further increase the life and expand the scale of this key growth driver in the Murchison.

 

.

“We look forward to providing updates on this work, as well as the ongoing mining studies at Bluebird – South Junction as we further increase outputs to >1.2Mtpa during H2, FY25.”

 

.

To read the full news release please click HERE

.

.

To View Westgold’s historical news, please click here

.

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

.