WGR’s Golden Monarch Drilling Validates High-Grade Continuity Ahead of Mine Decision

Robust Grade Control Drilling Strengthens Project Confidence

Western Gold Resources Limited (ASX – WGR) has released further encouraging assay results from its Golden Monarch deposit, a cornerstone of the Gold Duke Project in Western Australia. The latest grade control drilling, covering 21 of 395 holes within a comprehensive 35,300-metre program, confirms strong grade continuity and close alignment with the company’s updated geological models and Scoping Study assumptions.

This consistency is a significant technical milestone, underpinning confidence in early ore production and the overall project execution strategy. Golden Monarch alone accounts for approximately one-third of the gold ounces in the updated Scoping Study, making its performance critical to the project’s economics and timeline.

Key Intercepts Highlight Grade Continuity and Mining Selectivity

Notable intercepts from Pits 5 and 7 at Golden Monarch include high-grade intervals such as 5 metres at 11.67 grams per tonne (g/t) gold and 8 metres at 4.91 g/t gold, demonstrating excellent mineralisation continuity. The close-spaced drilling grid (5m by 10m) has enabled precise ore boundary definition, reducing dilution and ore loss, which are crucial for optimising mining selectivity and improving operating margins.

These results also validate the orebody geometry and support the accuracy of pit optimisation and mine scheduling models. The strong correlation between new assay data and historical drilling further reinforces the predictability of mineralisation across the Joyners Find shear corridor, a key structural feature hosting the deposit.

Geological Insights and Growth Potential

The drilling confirms that mineralisation remains open both along strike and down-plunge, extending beyond current pit designs. This suggests potential for future pit deepening, lateral pushbacks, or staged cutbacks, which could enhance the project’s resource base and mine life. The mineralised zones are hosted predominantly in steeply west-dipping banded iron formation units, exhibiting consistent structural orientation and grade tenor at mine scale.

Such geological uniformity is vital for reducing risk and improving production predictability. It also mirrors trends observed at adjacent deposits within the Gold Duke Project, indicating broader district-scale continuity and potential for resource growth in future drilling campaigns.

Quality Assurance and Next Steps

All samples were processed through ISO-accredited laboratories using industry-standard 50-gram fire assay methods, with rigorous quality assurance and control protocols confirming the integrity and reliability of the dataset. This high-quality data is essential for the upcoming Mineral Resource Model update, which will incorporate the new grade control results to refine orebody shapes, pit envelopes, and mining inventory.

Western Gold Resources plans to integrate these findings into final mine design and scheduling, advancing toward a Decision to Mine by the Board later in 2025. The company also intends to pursue Stage 2 development targeting extensions at Emu South, Eagle East, and Gold King South to further grow resources and potentially extend mine life.

Managing Director Cullum Winn emphasised the significance of these results, noting that the strong alignment with the updated Scoping Study and the low start-up capital requirements position the Gold Duke Project well amid robust Australian gold prices.