Bluebird - South Junction: A Mineral Resource Boom

Westgold Resources Limited (ASX: WGX) (TSX: WGX) (OTCQX: WGXRF) has announced a significant growth in the mineral resource estimate for the Bluebird - South Junction mining complex within its Murchison business at Meekatharra. The updated resource estimate has grown to 15Mt at 2.9g/t Au for 1.4Moz, representing a 37% increase from the previous estimate.

The growth in mineral resources is a result of a strategic drilling program that began in January 2024. The program aimed to extend and infill the South Junction lodes, leading to a 107% increase in the mineral resource estimate by April 2024. Additionally, a resource development drilling program under Westgold ownership commenced at the Lake Cowan project at Higginsville, further contributing to the growth in mineral resources.

The geological understanding of the Bluebird-South Junction deposit has evolved significantly, enabling the rapid growth in resources. The mineralized system is hosted within a mafic-ultramafic rock package intruded by the Polar Star Porphyry, characterized by multiple orebodies located on sub-parallel north-northeast-trending shears. Diamond drilling, face sampling, and sludge drilling methods have been employed to gather data for resource calculations, with a significant portion of the data coming from diamond core.

The expansion of the Bluebird - South Junction mineral resource is expected to significantly impact Westgold's mining operations and production targets. With a 65% increase in Measured and Indicated Resources, the company can now mine at a higher rate, potentially reaching 110kt per month, up from the previous 40kt. This growth is built upon continued investment in drilling, delivering a 240% increase in the Mineral Resource base. The significant upgrade in both total Mineral Resource and the Measured and Indicated component has enabled mining studies to advance, with an expected increase in the associated Ore Reserve during H2, FY25.

Westgold's Managing Director and CEO, Wayne Bramwell, commented on the growth: "With 1.4Moz in resource and growing, Bluebird-South Junction has now confirmed its status as the key growth driver in Westgold's Murchison business. In under 18 months, the team has moved a simple uphole bench mine producing at 40kt a month, towards a 110kt a month mine with a highly efficient transverse primary/secondary mining sequence. This transition is built upon continued investment in drilling delivering a 240% increase in the Mineral Resource base."

The recent drilling success at Bluebird - South Junction highlights Westgold's commitment to exploration and growth. The company's focus on resource development drilling, with two surface rigs and two underground drill rigs committed into 2025, is driving the extension and infill of the mineralised system, providing data for optimisation of mine infrastructure positioning. This strategic approach has allowed Westgold to confirm Bluebird's status as a key growth driver for the company, with an anticipated increase in associated Ore Reserve during H2, FY25.

In conclusion, the Bluebird - South Junction mineral resource growth is a testament to Westgold's commitment to exploration and growth. The company's strategic drilling programs and advancements in geological understanding have led to a significant increase in mineral resources, poising Westgold for enhanced production capacity and future growth prospects.