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Westgold Resources (ASX: WGX) has announced a maiden ore reserve and an updated mineral resource for the Fletcher deposit within the Beta Hunt mining complex at Kambalda in WA.
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MD and CEO, Wayne Bramwell, has named Beta Hunt as a key growth driver in the company’s business.
“Westgold’s corporate strategy remains clearly focused on expanding and optimising our largest mining and processing assets to maximise free cash flow. Drilling at Beta Hunt continues to unlock material value for shareholders, with the emerging Fletcher zone now contributing more than 1.0 million ounces (Moz) of ore reserve and 3.0 Moz of mineral resource growth,” Mr Bramwell said.
“Beta Hunt is the key growth driver in our Southern Goldfields business, with our capital investment focussed on lifting mine productivity.
“Westgold is currently mining from two established mining fronts with mine output scheduled to increase from 1.7 million tonnes per annum (Mtpa) to two Mtpa during FY27. This planned uplift excludes any contribution from the emerging Fletcher and Mason orebodies.”
Mr Bramwell said the increasing scale of Fletcher and the growing confidence in its mineable inventory, now support a detailed evaluation of a 4.0 Mtpa processing solution.
“Drilling will continue at Fletcher and commence at Mason, with Westgold advancing related studies, alongside key debottlenecking activities at Higginsville to support a larger processing facility.”
Mr Bramwell said the maiden Fletcher ore reserve of 13.5 Mt at 2.6 grams per tonne (g/t) gold for 1.1 Moz establishes a substantial new mineable inventory at Beta Hunt – supported by completed mine planning, commercial evaluation and a pre-feasibility study.
Fletcher’s mineral resource has increased by approximately 30% to 40.1 Mt at 2.3 g/t gold for 3.0 Moz – including a 426% increase in Indicated mineral resource ounces to 1.55 Moz at 2.7 g/t gold.
The total Beta Hunt ore reserve now stands at 21.7 Mt at 2.34 g/t for 1.6 Moz and mineral resource at 74.6 Mt at 2.25 g/t or 5.4Moz – representing 201% increase in ore reserve and 104% increase in mineral resource since acquisition in August 2024.
WGX was steady at $5.83. Mkt cap $5.478B.
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