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Westgold Resources Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Cue | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 10/1/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 1-10-2018: Westgold Resources Ltd. announces a Resource Estimation report for its Cue deposit at the Cue project. Annual update of mineral resources and ore reserves. Westgold Resources Limited (ASX:WGX) (Westgold) wishes to advise that it has completed i | |
| Resources: | (Reserve, P+P): 21.807Mt @ 2.57g/t Au for 1.80Moz Au contained at Cue | |
| CP/QP: | [Resources]: Jake Russell (Internal) | |
| ABSTRACT: | Westgold Resources Limited (ASX:WGX) (Westgold) wishes to advise that it has completed its annual Mineral Resource and Ore Reserve estimates as at 30 June 2018. Westgold’s consolidated Ore Reserve estimate has increased despite annual mining depletion and the divestment of its South Kalgoorlie Operations (SKO). Westgold’s gold production for the year was 253,210 ounces. Even after the sale of SKO, Westgold’s exploration and resource development programs replaced the mining depletion of the overall Mineral Resource to maintain the overall inventory. In addition, the Mineral Resource estimates at the the groups Tennant Creek polymetallic assets in the Northern Territory remain unchanged and contain substantial undeveloped opportunities. Westgold’s Managing Director, Peter Cook said: “The 2018 Financial Year has been transformational for Westgold. The sale of our shortest life asset at SKO and the acquisition and integration of specialist underground contractor, Australian Contract Mining, have been key features. Westgold made significant capital investment in all its business sectors which has estabished an excellent platform for the growth of our gold assets and the further creation of shareholder wealth. Our operational and mine planning teams have focused on the longevity of our business with continued Ore Reserve definition. The Ore Reserve has grown faster than production of the past year. This is a significant achievement with the complete removal of SKO. As an organisation we look forward to bringing these high-quality ore reserves to account in Financial Year 2019 and beyond.” | |
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