Westgold Resources (ASX:WGX) has returned a total resource estimate of 231 million tonnes @ 2.18 grams per tonne gold for 16.3 million ounces of gold across its portfolio of assets in the Murchison and Southern Goldfields regions of Western Australia.
Westgold has achieved a 24% increase to its mineral resource following extensive exploration and resource definition noting the company invested $43 million in the 2024-25 financial year, atop of $25 million previously allocated to the projects.
Activities across FY25 have added 990,000 ounces to the Murchison mines post depletion, as well as 2 million ounces to the Southern Goldfields mines post depletion.
Operating mines in the Murchison region include the Bluebird, Tuckabianna, and Fortnum processing hubs, while the Southern Goldfields region comprises the Higginsville processing plant and the Beta Hunt and Two Boys mines.
CEO Wayne Bramwell says the company’s $43 million investment to resource development and exploration has delivered “significant growth”.
“Importantly, our mineral resource and ore reserve growth has been created whilst concurrently investing in critical mine infrastructure across our Murchison and Southern Goldfields mines,” Bramwell says.
“The investment has now established a sustainable platform for long term cashflow generation over a 10-year group ore reserve life.”
The total ore reserves now sits at 56 million tonnes @ 1.93g/t gold for 3.5 million ounces of gold.
Westgold expects to contribute another $50 million towards exploration and resource development activities in the current financial year, with 19 drill rigs currently operating across the 3,200km2 portfolio.
Westgold Resources is a gold producer focused on developing its portfolio of assets located in the Murchison and Southern Goldfields region of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Westgold Resources
