Westgold Resources has updated its total mineral resource and ore reserve statement, and for its key gold projects.
The Western Australian gold miner’s total mineral resources now equal to 107 megatons (Mt) at 2.39 grams per tonne of gold (g/t Au) for 8.3 million ounces (Moz) of gold. This represents a 311,000 ounce increase from the previous mineral resource.
Its total ore reserves is equal to 23Mt at 2.68g/t Au for 2.0Moz of gold.
Westgold also provided updated mineral resources and ore reserves for its key gold projects.
The Big Bell project’s total mineral resources now total to about 24 Mt at 3.01g/t Au for 2.3Moz of gold, and its total ore reserves equal to about 9.8Mt at 3.14g/t for 995,000 ounces of gold.
The Day Dawn project, which includes the Great Fingall mine, now has a total mineral resource of about 6.1Mt at 4.47g/t Au for 887,000oz, and its total ore reserves equal to about 1.9Mt at 5.08g/t Au for 317,000 ounces of gold.
Westgold said all defined mineral resources are based upon a combination of reverse circulation and diamond drillholes, and the ore reserves are based on design studies at a pre-feasibility or feasibility stage.
“Westgold committed $19 million to drilling across our operating assets in FY23. This investment saw our mineral resource and ore reserve improve in quality, with our mineral resource base growing by over 300koz (thousand ounces),” Westgold Resources managing director Wayne Bramwell said.
“Systematic drilling delivered large mineral resource increases at both Big Bell and Great Fingall. Group grade increases across mineral resources and ore reserves gives us confidence that the quality of the group resource and reserve statement will continue to be enhanced as we continue to drill.
“In FY24 (the 2024 financial year), Westgold is investing $25 million towards exploration and resource definition drilling and we are confident that will deliver additional ore reserves from our existing mineral resources.”