Westgold Resources (ASX / TSX: WGX)
Announced a Mineral Resource Estimate update for the Bluebird – South Junction mining complex within Westgold’s Murchison business at Meekatharra.
The Bluebird – South Junction Mineral Resource Estimate (MRE) grows to15Mt at 2.9g/t Au for 1.4Moz – a 37% increase.
.
.
.
| Westgold | ASX / TSX: WGX |
| Stage | Production + development |
| Metals | Gold |
| Market cap | A$2.74 Billion @ A$2.58 |
| Location | Western Australia |
| Website | www.westgold.com.au |
.
Westgold’s Bluebird – South Junction Mineral Resource Grows to 1.4Moz
65% increase in Measured and Indicated Resources to 8.7Mt @ 2.9g/t Au for 814koz
Perth, Western Australia, 18 November 2024: Westgold Resources Limited (ASX / TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to announce a Mineral Resource Estimate update for the Bluebird – South Junction mining complex within Westgold’s Murchison business at Meekatharra.
.
Highlights
Bluebird – South Junction Mineral Resource Estimate (MRE) grows to
15Mt at 2.9g/t Au for 1.4Moz – a 37% increase.
■ 65% increase in Measured and Indicated Resources – Measured and Indicated
component now 8.7Mt at 2.9g/t Au 814koz.
■ Mining study underway – with a view to updating the Bluebird – South Junction Ore
Reserve during Q2, FY25.
Drilling program extended
■ Two surface rigs and two underground drill rigs committed into 2025 – all parts
of the mineralised system remain open at depth and to the south along strike.
■ Drilling objectives are to extend and infill the system – providing data for
optimisation of mine infrastructure positioning.
Polar Star access being accelerated
■ Study underway considering second portal access – to allow for rapid drill-out of
the Polar Star Lode within the Bluebird-South Junction mining complex.
■ Second portal may convert to production decline – providing access to a third
mining front, lifting mine outputs and deconstraining current Bluebird – South
Junction mine plan from future mining at Polar Star.
.
Westgold Managing Director and CEO Wayne Bramwell commented:
“With 1.4Moz in resource and growing Bluebird-South Junction has now confirmed its status as the key growth driver in Westgold’s Murchison business.
“In under 18 months, the team has moved a simple uphole bench mine producing at 40kt a month, towards a 110kt a month mine with a highly efficient transverse primary / secondary mining sequence.
“This transition is built upon continued investment in drilling delivering a 240% increase in the Mineral Resource base.
“The significant upgrade in both total Mineral Resource and the Measured and Indicated component of the Mineral Resource Estimate has enabled mining studies to advance, and we anticipate an increase in the associated Ore Reserve over and above the currently reported 277koz.
“This increase is expected to be delivered during H2, FY25.
“In FY25 Westgold has unleashed the drills. In the Southern Goldfields preliminary works to support a seventh underground drill rig at Beta Hunt are underway, and the first resource development drilling program under Westgold ownership has commenced at the Lake Cowan project at Higginsville, with a view to providing a new source of feed to the Higginsville mill.”
.
.
The live gold price can be found HERE
.
=======
.
City Investors Circle is based in the financial district in the City of London
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.
.