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Westgold Resources Ltd.
Summary
| Project: | Central Murchison | |
|---|---|---|
| Deposit: | Central Murchison | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 9/4/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-9-2017: Westgold Resources Ltd. announces a Resource Estimation report for its Central Murchison deposit at the Central Murchison project. Annual update of mineral resources and ore reserves. Westgold Resources Limited (ASX:WGX) (Westgold or the Company | |
| Resources: | (Reserve, P+P): 27.686Mt @ 2.61g/t Au for 2.32Moz Au contained at Central Murchison | |
| CP/QP: | [Resources]: J. Russell, P. Hucker, A. Buckingham (Internal) | |
| ABSTRACT: | Westgold Resources Limited (ASX:WGX) (Westgold or the Company) wishes to advise that it has completed its annual Mineral Resource and Ore Reserve estimates as at 30 June 2017 and these have resulted in an increase in of 26% in the group consolidated Ore Reserve estimate before annual mining depletion. The Ore Reserve now stands at 46 million tonnes at 2.28 g/t Au containing 3.38 million ounces of gold. The group consolidated Mineral Resource estimate increased to 237 million tonnes at 2.09 g/t Au containing 15.96 million ounces. Annual gold production for the year was 266,910 ounces from three projects with contributions from the Fortnum and the Tuckabianna projects due in the new financial year. Westgold’s Managing Director, Peter Cook said: “This is an excellent progression and reflects the steady conversion of resource into reserve at all our gold projects. More pleasing is the replacement of Ore Reserves at a rate well above mining depletion.“ In addition to the above updates, Westgold retained ownership of the Tennant Creek Project as part of the demerger of the gold group from Metals X Limited. The Identified Mineral Resource estimate for the Tennant Creek polymetallic deposits are unchanged for the year, with the lead-zinc and copper-gold projects both containing significant resources. The Rover 1 Project is a standout with a total resource estimate containing 380,000 ounces of gold, 454,000 ounces of silver, 82,000 tonnes of copper, 9,400 tonnes of bismuth and 4,335 tonnes of cobalt metal. Details of all identified mineral resource and ore reserve estimates are tabulated by project, JORC category and orebody in the attached appendices. | |
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