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Westgold Resources Ltd.
Summary
| Project: | Rover | |
|---|---|---|
| Deposit: | Rover | |
| Location: | Australia | |
| Commodities: | Gold-Silver-Copper-Bismuth-Cobalt-Lead-Zinc | |
| Date: | 10/4/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-10-2019: Westgold Resources Ltd. announces a Resource Estimation report for its Rover deposit at the Rover project. Annual statement of resources, unchanged since last estimate. Westgold Resources Limited (ASX:WGX) (Westgold) wishes to advise that it ha | |
| Resources: | ||
| 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 2019. Westgold’s consolidated Ore Reserve estimate is essentially unchanged (-1%) despite annual mining depletion and divestment of its Higginsville Gold Operations. Westgold’s Managing Director, Peter Cook said: “The 2019 financial year has laid a strong foundation for the long-term success of Westgold’s Murchison gold strategy. We now have our three Murchison plants operating at full capacity and our flagship, Big Bell mine is building to full output over the coming year. We have also significantly streamlined our business and commensurately increased our focus on the core Murchison assets via the divestment of the mature Higginsville Gold Operations. We have produced over 250,000 ounces of gold on average for the past three years and despite this we have managed to maintain our strong Ore Reserve base at a rate greater than depletion. This reflects the sustainable and progressive nature of the Mineral Resources in our key underground mines where progressive upgrade of Mineral Resources into Ore Reserves occurs. Importantly for the future of the Company, the transition from development and growth capital to sustaining capital frees up available cash resources to focus on Mineral Resource growth and Ore Reserve conversion, which will enable Westgold to take full advantage of the current elevated gold price cycle.” | |
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