WESTGOLD RESOURCES DOUBLES SOUTH JUNCTION ORE RESERVE

Ore Reserve Jumps to 7.2Mt at 2.5g/t Gold for 573,000 Ounces

Westgold Resources Limited (ASX:WGX) has announced a 107% increase in the Ore Reserve at its Bluebird-South Junction mining complex near Meekatharra, Western Australia. The updated Ore Reserve now stands at 7.2Mt grading 2.5g/t for 573,000 ounces of gold.

Key Highlights:

Doubling of the South Junction Ore Reserve: A 107% increase (+296,000 ounces) from the August 2024 reserve. The updated Ore Reserve benefits from the ongoing drilling efforts, offsetting mining depletion.
Revised Mineral Resource Estimate (MRE): The MRE has been updated to 15Mt at 2.9g/t gold for 1.4Moz, with 814,000 ounces classified as Measured and Indicated.
Expanded Drilling Campaigns: New drilling targets within 2km of Bluebird are being sequenced, including Great Northern Highway (0.4km), Romsey (1.5km), and Ironbark (2.0km).
Mining Optimisation: South Junction’s +20m orebody widths allow for high-tonnage transverse stoping methods, which are expected to enhance production during the second half of FY25.

Westgold Managing Director and CEO Wayne Bramwell stated:

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 1.4-1.8Mtpa Bluebird processing plant that sits 0.5km 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 remains 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.