New Discoveries Boost Gold Potential at Westgold's Mines

Recent Developments in Gold Mining

Westgold Resources Limited (NASDAQ: WGX, TSX: WGX, OTCQX: WGXRF) is excited to announce promising updates regarding its mining operations at the Western Flanks orebody located at Beta Hunt. The company has identified sediment-hosted coarse gold mineralization, which provides substantial production upside potential. This new discovery mirrors mineralization patterns seen in the previously mined "Father's Day Vein" from the A Zone deposit.

Key Highlights of Findings

The latest drilling activities have provided several noteworthy highlights:

• Confirmation of significant coarse gold mineralization within the Western Flanks area, suggesting expanded production potential.
• The definition of mineralization styles consistent with the high-grade occurrences found in the Father’s Day Vein.
• Indications of comparable high-grade positions possibly located within the Fletcher Zone, which continues to evolve successfully.

Wayne Bramwell, the Managing Director and CEO of Westgold, shared insights on these findings, stating that coarse gold occurrences identified at Beta Hunt had previously been restricted to the A Zone deposit. The new data from the Western Flanks deposit not only raises expectations for increased production but also suggests the coexistence of many other potential bonanza-grade zones, highlighting Westgold's optimistic outlook.

Coarse Gold Mineralization Characteristics

At the Beta Hunt mine, gold mineralization predominantly takes place within the Lunnon Basalt. This region is characterized by northwest-trending, sub-vertical geological structures. A critical layer within the Lunnon Basalt comprises pyritic laminated shales known as the Lunnon Sediment, which is pivotal for coarse gold occurrences. This mineralized structure leads to the development of concentrate-grade zones extending southerly within the A Zone.

Historical findings from the area include the notable Father’s Day Vein (FDV), which when mined, yielded over 30,000 ounces of gold, signifying its rich gold content. Importantly, the FDV’s presence was not included in earlier geological or resource estimations for the A Zone, a factor that emphasizes the substantial growth potential seen within Westgold’s mining plans.

Western Flanks: A New Coarse Gold Opportunity

Further exploration by Westgold at Western Flanks has illuminated additional avenues for coarse gold recovery. Prior drilling efforts by Karora Resources yielded positive results, displaying impressive assay results that previously indicated similar potential found at the Father's Day Vein:

• 2.00 meters at 1,017.3 g/t Au, which includes a significant 0.27 meters at 7,621 g/t Au, recorded in drill hole WFN-29.
• 4.75 meters at 395.9 g/t Au, incorporating 0.85 meters at 2,210 g/t Au, from drill hole WFN-063.

These findings not only elucidate the potential of the Western Flanks but also underline the possibility of similar occurrences throughout the area.

Looking Ahead: Significant Growth Projected

The Lunnon Sediment is recognized as a regional stratigraphic unit located deep beneath the Kambalda Ultramafic contact, potentially extending throughout the entire Beta Hunt sub-lease. The new data reinforces the likelihood of coarse gold mineralization where the Lunnon Sediment intersects with mineralized shear zones. Thus, the forthcoming drilling programs aim to explore the expansive potential within Beta Hunt and its adjoining structures, which may harbor further exciting finds.

With the implementation of accelerated drilling schedules set for FY25, Westgold aims to map these opportunities effectively and capitalize on what seems to be a lucrative gold-rich region.

Frequently Asked Questions

What recent updates has Westgold Resources provided?

Westgold has announced significant discoveries of coarse gold mineralization at the Western Flanks orebody at Beta Hunt, highlighting potential for increased production.

How does the new mineralization compare to past findings?

The recent findings mirror the high-grade occurrences from the previously mined Father's Day Vein, indicating similar styles and potentially richer zones within Western Flanks.

What are the key features of the gold mineralization at Beta Hunt?

The majority of the gold mineralization occurs within the Lunnon Basalt, characterized by unique geological structures that enhance the potential for coarse gold zones.

What drilling outcomes have been reported from the Western Flanks?

Notable drill results include intersections of up to 7,621 g/t Au, showcasing the high-grade gold potential of the area.

What are Westgold’s future plans after these discoveries?

Westgold plans to initiate accelerated drilling programs in FY25 aimed at exploring the extensive potential at Beta Hunt and its surrounding regions.

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