Westgold (ASX / TSX: WGX)
Reported that the Starlight Mineral Resource Grew by 91%, with 12.9Mt @ 2.7g/t Au for 1.13Moz demonstrates potential for production growth and extended mine life.
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| Westgold | ASX / TSX: WGX |
| Stage | Production + development |
| Metals | Gold |
| Market cap | A$2.97 Billion @ A$2.79 |
| Location | Western Australia |
Westgold – Starlight Mineral Resource Grows by 91%
12.9Mt @ 2.7g/t Au for 1.13Moz demonstrates potential for production growth and extended mine life.
Perth, Western Australia, 13 November 2024: Westgold Resources Limited (ASX: WGX, TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to provide this update on the reevaluation of the company’s Fortnum Project in the Murchison.
Highlights
Starlight Mineral Resource Estimate now 12.9Mt at 2.7g/t Au for 1.13Moz of gold – a
91% increase since June 2024.
The expanded Mineral Resource Estimate is the result of concerted 2-year drilling
program – focused on expanding the Mineral Resource to provide options for future
growth at Fortnum.
The expanded Starlight Mineral Resource Estimate comprises two components:
An underground Mineral Resource of 8.7Mt @ 3.0g/t for 840koz – a 43% increase
since June 2024, following a 41% increase in the year to June 2024.
A newly estimated Open Pit Mineral Resource of 4.2Mt @ 2.2g/t au for 290koz.
The new enlarged Mineral Resource has seen Westgold initiate a Scoping Study to
investigate expansion options (both underground and open pit) at Fortnum.
The Fortnum Expansion Project (FXP) Scoping Study is progressing with results to
be reported in Q2, FY25.
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Westgold Managing Director and CEO Wayne Bramwell commented:
“A 91% increase in the Mineral Resource Estimate at Starlight marks two significant milestones for Westgold and the Fortnum Project.
“Our technical team has drilled continuously for two years to extend mine life and has now defined Mineral Resources that offer the potential to integrate both open pit and underground mining to expand Fortnum production.
“Importantly, this result demonstrates the organic growth pportunities that exist within Westgold’s portfolio.
“Westgold has commenced a Scoping Study to evaluate expansion options with results of the Fortnum Expansion Project (FXP) study due in Q2, FY25.”
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The live gold price can be found HERE
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Disclosure
At the time of writing the author holds shares in Westgold.
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