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Westgold Resources Ltd.
Summary
| Project: | Cue | |
|---|---|---|
| Deposit: | Pinnacle | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 4/29/2020 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-4-2020: Westgold Resources Ltd. announces an Exploration/Drilling Update report for its Pinnacle deposit at the Cue project. Drilling results incl. 24.74m @ 5.04g/t Au from 110m. FGO performed strongly during the quarter despite part of the Starlight m | |
| Resources: | ||
| CP/QP: | [Overall Report]: Jake Russell (Internal) | |
| ABSTRACT: | FGO performed strongly during the quarter despite part of the Starlight mine being in the down-cycle of the revised bulk mining methodology currently in operation. A consequence of this methodology is high variability in grade distribution within bulk mining areas (i.e. ‘feast or famine’). Mine production from Starlight was 30% lower with mine grade 24% lower after seasonal rains caused flooding of some work areas during the quarter. As Starlight is the only operating mine at Fortnum its underground ore is blended with low grade surface stocks to maintain plant feed, resulting in lower milled grade ore. Improved results are anticipated next quarter as Starlight bulk stoping moves towards higher grade zones. Despite the lower output, the overall performance at Fortnum remains outstanding, thanks to efficiency in mining and reduced operating costs. Consequently, while underground mine grade was 2.76g/t, mine unit costs were only A$661/oz. Year to date head grade for the underground mine is 3.23g/t and mine operating costs are averaging A$514/oz, which is exceptional for this style of mining and reflects the benefits of the Westgold owner operator model. | |
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