Economic Finesse
  • Business
  • Stock
  • Politics
  • Investing
No Result
View All Result
  • Business
  • Stock
  • Politics
  • Investing
No Result
View All Result
Economic Finesse
No Result
View All Result
Home Investing

Westgold Resources Shares Maiden Ore Reserve for South Junction, Mining to Start This Month

August 16, 2024
in Investing
Westgold Resources Shares Maiden Ore Reserve for South Junction, Mining to Start This Month

Westgold Resources (ASX:WGX,TSX:WGX,OTCQX:WGXRF) released a maiden ore reserve statement for its South Junction mine, part of the Bluebird – South Junction mining complex, on Wednesday (August 14).

According to the company, the ore reserve for Bluebird – South Junction has increased by 233 percent and now stands at 3 million tonnes at 2.8 grams per tonne (g/t) gold for 277,000 ounces of the yellow metal.

South Junction contributed 2.6 million tonnes at 2.7 g/t gold for 225,000 ounces of gold.

Westgold said the 233 percent boost is in comparison to its 2023 fiscal year ore reserve post-depletion.

Located in the regional town of Meekathara, South Junction is owned by Westgold and was identified as a priority growth opportunity after initial drill testing of the project was done in early 2023.

A drill program was initiated in January of this year with the aim of extending and infilling the project. This program is ongoing, with two rigs active on the surface and in the underground environment, respectively.

The company released an updated resource estimate for Bluebird – South Junction in April, reporting 6.4 million tonnes at 3.1 g/t gold for 827,000 ounces; that was an increase of 134 percent from the previous estimate.

Wednesday’s release shows a further increase of 130,000 ounces post-depletion of 14,000 ounces. The property’s resource estimate now stands at 10.71 million tonnes at 2.8 g/t gold for 960,000 ounces.

The company said in its release that mining at South Junction is scheduled to commence in August, and that production rates at the asset will rapidly increase as the project moves along.

Overall, the company’s strategy is to further expand its biggest mines and focus on grade moving forward. This includes the expansion of the Bluebird underground to include new mining fronts from South Junction.

‘The maiden Ore Reserve for South Junction and the rapid expansion of the Bluebird-South Junction mining complex to a 1.2Mtpa run rate by Q3, FY25 has been a remarkable success story and underpins the value in drilling,’ said CEO Wayne Bramwell, adding that the company will be drilling at properties across its portfolio in the months to come.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Previous Post

Harris cuts Trump’s advantages on economy, immigration

Next Post

What Inflation Fear? Strong Retail Sales Fuel Growth

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent News

    Is a Chinese chain’s blood orange cold brew the future of coffee in America?

    Is a Chinese chain’s blood orange cold brew the future of coffee in America?

    July 8, 2025
    The Best Five Sectors, #26

    The Best Five Sectors, #26

    July 8, 2025
    Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

    Questcorp Mining Continues Exploration in Advance of Drilling at the La Union Gold & Silver Project in Mexico

    July 8, 2025
    Canadian Investment Regulatory Organization Trade Resumption – STUD

    Canadian Investment Regulatory Organization Trade Resumption – STUD

    July 8, 2025

    Disclaimer: economicfinesse.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Browse by Category

    • Business
    • Investing
    • Politics
    • Stock

    Recent News

    Is a Chinese chain’s blood orange cold brew the future of coffee in America?

    Is a Chinese chain’s blood orange cold brew the future of coffee in America?

    July 8, 2025
    The Best Five Sectors, #26

    The Best Five Sectors, #26

    July 8, 2025
    • About us
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 Economic Finesse. All Rights Reserved.

    No Result
    View All Result
    • About us
    • Home 1
    • Home 2
    • Home 3
    • Home 4
    • Home 5
    • Home 6
    • Privacy Policy
    • Terms & Conditions
    • Thank you

    Copyright © 2024 Economic Finesse. All Rights Reserved.