Western Gold Resources (ASX:WGR) updates Mineral Resource Estimate for Gold Duke Project

Western Gold Resources Limited (ASX:WGR) has released an updated Mineral Resource Estimate for the Eagle and Emu deposits at the Gold Duke Gold Project in Western Australia. The update has expanded the Indicated tonnage by 300% at Eagle and allowed the declaration of an Indicated Resource at Emu for the first time. The updated Mineral Resource Estimate (JORC 2012) for the Eagle, Emu, and Golden Monarch deposits is now 2.95Mt@ 2.07g/t Au for 235,000 oz. The increased resource confidence will support a Scoping Study underway as the Company looks to move the Gold Duke into production.

Executive Commentary on Mineral Resource Update

Warren Thorne, WGR's Managing Director, stated, 'The updated Mineral Resource Estimate for the Golden Monarch Eagle and Emu deposits highlights a better interpretation of the drilling campaigns completed on the project in 2021 and 2022. Together with data from geotechnical drilling completed in 2024, and incorporating current mining costs and the gold price, the updated MRE provides further validation of the economic viability of the Gold Duke Project. The increased resource confidence will also support a Scoping Study underway as the Company looks to move the Gold Duke Project into production.'

Summary of Mineral Resource Update and Outlook

The updated Mineral Resource Estimate for the Eagle and Emu deposits at the Gold Duke Gold Project has significantly increased resource confidence, supporting the Company's strategy to move the project towards mining. The Mineral Resource Estimate (JORC 2012) now stands at 2.95Mt@ 2.07g/t Au for 235,000 oz. The Company is progressing mining approvals for the Gold King deposit and is in discussions with nearby plants for treatment options. The updated resource confidence will also support a Scoping Study underway as the Company looks to move the Gold Duke Project into production. Additional drilling is recommended to add further confidence and potentially increase the overall Mineral Resources, with ongoing metallurgical characterisation to better understand the recovery characteristics of the mineralisation through conventional CIL facility.