DEVELOPMENT HAS BEGUN AT GREAT FINGALL

Westgold Resources has commenced decline development of its Great Fingall gold mine in Western Australia.

The mine is located 28km from Westgold’s Tuckabianna processing hub, Great Fingall has produced approximately 1.2 million ounces over the years, with decline development to extend the mine’s life.

With the Westgold board approving Great Fingall’s development in August, the company has now mobilised the key underground fleet, supporting surface infrastructure and high-speed development team to commence development in less than two months.

The Great Fingall development team completed the first cut into the existing decline access on October 19, which was in line with the Great Fingall feasibility study.

The mine is expected to produce more than 45,000 ounces per annum across eight years according to the feasibility study. The ore processed at the Tuckabianna mill is at an all-in cost of $1801/oz.

“Great Fingall is one of four +1Moz (more than one million ounces) historic producing mines in Westgold’s portfolio,” Westgold Resources managing director Wayne Bramwell said. “At steady state, Great Fingall will be a long-life, high-grade, high-margin underground mine, producing +45,000oz a year.

“Our base case plan boasts compelling returns, is fully funded from operational cashflows and focuses on deeper virgin reef extensions only. Importantly, significant upside exists from known shallow high-grade, flat and linking structures that we will develop through as we push the decline past the shallow remnant mining areas to the virgin extensions of this high-grade orebody.

“These opportunities, which could deliver additional ounces during FY24 (2024 financial year), have not yet been included in the current business case or design.”

The first ore is anticipated in the first half of 2025.

Goldman

Read Previous

METALICITY RAISES $1.4M TO ACCELERATE GOLD PROJECTS

Read Next

JEFFREYS FIND YIELDS OVER 9,400 OUNCES IN STAGE ONE