Westgold's Starlight Resource Update

Westgold Resources (ASX:WGX) has announced a major update to the Mineral Resource Estimate for its Starlight deposit, part of the Fortnum Project in Western Australia. The resource has grown by 91% since June 2024, now holding 12.9 million tonnes at 2.7 g/t gold for 1.13 million ounces of gold. This growth is a result of a two-year drilling program targeting mine life extension and future growth.

Strategic Analysis of Westgold's Resource Expansion

Westgold Resources has significantly increased its Mineral Resource Estimate at the Starlight deposit, enhancing its gold prospects in the Murchison region. The resource now stands at 12.9 million tonnes with a gold grade of 2.7 g/t, amounting to 1.13 million ounces of gold, marking a 91% increase. This growth stems from a comprehensive drilling program over two years aimed at extending the mine's life and exploring growth potential. The updated estimate includes underground resources and newly assessed open pit components. Westgold is conducting a Scoping Study to explore expansion possibilities, with results expected in Q2 FY25. The company aims to leverage this resource growth to explore organic growth opportunities and potential expansions at the Fortnum Project.

Executive Insights on Mineral Resource Growth

The substantial increase in the Starlight Mineral Resource Estimate is a testament to our focused exploration efforts and disciplined approach to resource estimation. Our team has worked diligently to expand the resource base, providing a strong platform for potential future development and growth opportunities within the Fortnum Project.