Westgold Resources has declared a maiden Ore Reserve of 1.1 million ounces at its Fletcher deposit, marking a significant 30% increase in total Mineral Resources at Beta Hunt and advancing plans for a 4Mtpa processing expansion.
- Maiden Fletcher Ore Reserve totals 13.5Mt at 2.6g/t Au for 1.1Moz
- Fletcher Mineral Resource grows 30% to 3.0Moz with 426% rise in Indicated ounces
- 74% of Indicated Resource ounces converted to Ore Reserve
- Beta Hunt Ore Reserve now 1.6Moz, Mineral Resource 5.4Moz
- Definitive Feasibility Study underway for 4Mtpa Higginsville expansion
Fletcher Emerges as Major New Mining Front at Beta Hunt
Westgold Resources (ASX:WGX) has announced a maiden Ore Reserve for its Fletcher deposit within the Beta Hunt mining complex, delivering a substantial 1.1 million ounces of gold contained in 13.5 million tonnes at 2.6g/t. This milestone reflects a 30% increase in Fletcher’s total Mineral Resource to 3.0 million ounces and a staggering 426% jump in Indicated Resource ounces to 1.55 million ounces, underpinning Fletcher’s rise as a key growth driver in Westgold’s Southern Goldfields portfolio.
The company reports that approximately 74% of the Indicated Mineral Resource ounces at Fletcher have been successfully converted into Ore Reserves, a conversion rate that materially enhances confidence in the deposit’s mineability and economic viability. This maiden reserve is supported by completed mine planning, commercial evaluation, and a Pre-Feasibility Study, marking Fletcher as a credible third mining front alongside existing operations at Beta Hunt.
Beta Hunt’s Resource and Reserve Base Doubles Since Acquisition
The updated figures lift the total Beta Hunt Ore Reserve to 21.7 million tonnes at 2.34g/t for 1.6 million ounces, representing a 201% increase since Westgold’s acquisition in August 2024. The Mineral Resource base has similarly expanded to 74.6 million tonnes at 2.25g/t for 5.4 million ounces, more than doubling the resource inventory. These gains have been driven by extensive drilling programs exceeding 85 kilometres within the Fletcher zone, often conducted from active underground workings despite logistical constraints.
Westgold Managing Director Wayne Bramwell highlighted the strategic importance of Fletcher, noting the deposit’s geological similarities to the nearby Western Flanks orebody and its potential to underpin a higher throughput processing scenario. "The increasing scale of Fletcher, and the growing confidence in its mineable inventory, now support a detailed evaluation of a 4Mtpa processing solution," Bramwell said, signalling a shift in the company’s expansion plans.
Accelerated 4Mtpa Expansion Study and Revised Sequencing
Originally, Westgold’s Higginsville expansion was staged from 1.6Mtpa to 2.6Mtpa and eventually 4Mtpa, but the enhanced Fletcher reserve base has prompted the company to fast-track a Definitive Feasibility Study (DFS) for a direct 4Mtpa processing expansion. This approach aims to simplify the growth pathway and reduce execution risk, though it may extend the period during which Higginsville operates at its current 1.6Mtpa capacity.
Westgold is concurrently prioritising capital allocation to its Murchison operations, where mining performance has exceeded expectations and ore stockpiles are accumulating rapidly. This strategic capital sequencing is designed to monetise Murchison stockpiles earlier while allowing more time to optimise the larger Higginsville expansion aligned with Fletcher’s output.
Key upcoming catalysts include the completion of the 4Mtpa expansion study, an underground mass-haulage study to explore alternatives to conventional trucking at Fletcher, and ongoing drilling to test Fletcher’s northern extension and the Mason target to the south. These initiatives aim to further enhance the mine’s scale and operational efficiency.
Robust Technical and Economic Foundations for Ore Reserve
The maiden Ore Reserve is grounded in a comprehensive Pre-Feasibility Study incorporating detailed geological modelling, mine design, development scheduling, and economic evaluation. Cut-off grades were derived from current Beta Hunt operating costs and metallurgical recoveries, with a full costed cut-off grade set at 2.1g/t Au. Mining assumptions include longhole stoping with expected dilution of 12% and recovery of 90%, consistent with Westgold’s extensive underground experience in Western Australia.
Processing will utilise the Higginsville Gold Operations facility employing gravity recovery and carbon-in-leach technology, with metallurgical assumptions based on established plant performance. The study assumes a gold price of A$5,500 per ounce for reserve evaluation, with sensitivity analyses confirming economic robustness across key variables.
Fletcher benefits from existing infrastructure within the Beta Hunt complex, including surface declines for ventilation and haulage, and access to experienced operational personnel. Environmental and social considerations align with current approved management plans, with no known impediments to ongoing development.
Exploration Potential Remains Open at Fletcher and Mason
Despite the significant resource upgrade and maiden Ore Reserve declaration, Fletcher remains open along strike to the north and at depth, with drilling ongoing to test extensions up to 700 metres from the current resource boundary. The Mason target to the south, located across the Alpha Island Fault, is also under active drilling, offering further upside potential for long-term growth within the Beta Hunt complex.
Westgold’s technical team continues to refine geological interpretations and mine plans, with a forthcoming NI 43-101 technical report due within 45 days to provide additional detail on the Ore Reserve assumptions and study outcomes.
Bottom Line?
Westgold’s maiden Fletcher Ore Reserve and resource growth recalibrate its expansion strategy, with the 4Mtpa study and haulage optimisation set to define the next phase of Beta Hunt’s evolution.
Questions in the middle?
- How will the timing and scale of the 4Mtpa Higginsville expansion influence Westgold’s production profile?
- What cost and efficiency gains could emerge from the underground haulage study at Fletcher?
- To what extent can ongoing drilling at Fletcher and Mason extend the mine life or increase reserves further?