KEY POINTS
- Fletcher adds a maiden 1.1-million-ounce ore reserve to Westgold’s Beta Hunt operation.
- Beta Hunt’s total reserves have risen 201% since Westgold acquired the project in 2024.
- Westgold is accelerating plans for a potential four-million-tonne-a-year processing expansion.
Westgold Resources has significantly increased the growth potential of its Beta Hunt gold mining complex in Kambalda, Western Australia, after declaring a maiden ore reserve for the Fletcher deposit.
The ASX- and TSX-listed gold producer reported a maiden ore reserve of 13.5 million tonnes at an average grade of 2.6 grams of gold per tonne, containing approximately 1.1 million ounces of gold.
The company said the new reserve represents a substantial addition to its mineable inventory and strengthens the case for Fletcher to become a third major mining front at Beta Hunt.
Fletcher is one of three significant mineralised systems identified within the Beta Hunt complex, alongside the mining areas already in production.
Fletcher Mineral Resource Rises 30%
Westgold has also upgraded its mineral resource estimate for Fletcher, with the total resource increasing by about 30% to 40.1 million tonnes grading 2.3 grams per tonne, equivalent to approximately three million ounces of contained gold.
The most significant improvement was recorded in the indicated mineral resource category.
Indicated resources increased by 426% from the previous estimate to 1.55 million ounces at an average grade of 2.7 grams per tonne.
The conversion of resources into reserves is particularly important because it provides greater confidence that the identified mineralisation can potentially be economically mined.
Westgold said about 74% of the updated indicated resource ounces at Fletcher have now been converted into the maiden ore reserve.
This conversion strengthens the deposit’s potential to develop into a major production area and gives the company greater confidence in planning future mining and processing capacity.
The Fletcher update has also transformed the overall resource position at Beta Hunt.
Westgold’s total Beta Hunt ore reserve now stands at 21.7 million tonnes grading 2.34 grams per tonne, containing approximately 1.6 million ounces of gold.
The project’s total mineral resource has increased to 74.6 million tonnes grading 2.25 grams per tonne, representing approximately 5.4 million ounces of contained gold.
According to Westgold, the figures represent a 201% increase in total project ore reserves and a 104% increase in total mineral resources since the company acquired Beta Hunt in August 2024.
