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Highlights
- Westgold Resources reports a 91% increase in the Starlight mine’s resource estimate.
- New Mineral Resource Estimate (MRE) totals 12.9 million tonnes at 2.7 grams per tonne of gold.
- A scoping study on expanded mining options is underway for the Fortnum Project.
Westgold Resources Ltd (ASX:WGX) recently announced a significant 91% growth in the mineral resource estimate (MRE) for its Starlight underground mine in Western Australia. This updated estimate brings the resource to 12.9 million tonnes, with an average gold grade of 2.7 grams per tonne, amounting to a total of 1.13 million ounces of gold.
The Starlight mine now holds two primary resources: an underground component of 8.7 million tonnes at a higher grade of 3.0 grams per tonne, estimated to contain 840,000 ounces of gold, and a newly defined open pit resource totaling 4.2 million tonnes at 2.2 grams per tonne for approximately 290,000 ounces. This robust growth includes a 43% increase in the underground resource estimate since June 2024, following a 41% rise earlier in the year.
This MRE expansion is part of Westgold’s ongoing two-year drilling campaign, which aims to explore resource growth for the company’s Fortnum Project in Western Australia’s Murchison region. The additional drilling has expanded the scope of possibilities for the Fortnum Project, potentially enhancing production through a blend of both underground and open-pit mining approaches. With this larger resource base, Westgold has initiated a scoping study to assess options for expanded mining activities at Fortnum, with preliminary results expected in the second quarter of the 2025 fiscal year.
Westgold’s Managing Director and CEO, Wayne Bramwell, emphasized the strategic importance of this resource increase, noting, “A 91% increase in the Mineral Resource Estimate at Starlight marks two significant milestones for Westgold and the Fortnum Project.” He attributed the success to Westgold’s dedicated technical team, who have sustained drilling efforts over the past two years. This growth, he added, highlights the potential to expand Fortnum’s production through both open-pit and underground mining approaches, strengthening Westgold’s portfolio in Western Australia.
The Fortnum Project’s ongoing exploration is expected to play a pivotal role in the company’s regional strategy, positioning Westgold Resources as a key player in WA’s gold mining landscape. As the scoping study progresses, the mining community anticipates further insights on how Westgold will leverage its expanded resource base to enhance future operations and maximize output at Fortnum.
At the time of reporting, Westgold shares were trading lower, at $2.76, reflecting a slight decrease of 1.08% from market open.
