Westgold Resources Limited (ASX:WGX)

Westgold Resources Limited has declared a 1.1Moz Maiden Ore Reserve at Fletcher within the Beta Hunt mining complex in Australia. The Fletcher Ore Reserve is classified entirely as a Probable Ore Reserve, derived from Indicated Mineral Resources and supported by a Pre-Feasibility Study. This study incorporated detailed cashflow analysis, operating and capital cost estimates, production schedules, and economic assessment, demonstrating a positive economic outcome. The study supports the conversion of Indicated Mineral Resources to Ore Reserves with a 30% increase in total resource and a significant 426% increase in indicated resource classification. The project benefits from existing infrastructure at the Beta Hunt site and aims to improve long-term cost and productivity through an underground haulage study. With ongoing exploration, Fletcher's potential for expansion to the north and south remains viable.