Westgold Resources has declared a maiden Ore Reserve for the Fletcher deposit at its Beta Hunt mining complex in Western Australia, marking a significant inflection point for the emerging asset. The reserve comprises 13.5 million tonnes at 2.6 grams per tonne gold, translating to 1.1 million ounces of mineable inventory. This represents a meaningful addition to Westgold’s production profile and validates nearly two years of exploration success since the company acquired Beta Hunt in August 2024.
The Fletcher declaration carries particular weight because it establishes a potential third mining front at Beta Hunt. The deposit now underpins management’s assessment of a 4 million tonne per annum processing expansion, meaningfully larger than the previously planned 2.6Mtpa Higginsville development. This scale shift is material to the economics. Current mine output is scheduled to increase from 1.7Mtpa to 2Mtpa during the 2027 financial year, and Fletcher would form the cornerstone of any further step-change in production capacity.
The resource expansion supporting the reserve is equally striking. Fletcher’s total Mineral Resource grew by approximately 30 percent to 40.1 million tonnes at 2.3g/t for 3.0 million ounces, but the critical metric is the Indicated Resource classification. This segment, which carries the highest confidence, expanded by 426 percent to 1.55 million ounces at 2.7g/t. Approximately 74 percent of those Indicated ounces have converted into the maiden reserve, demonstrating strong confidence in both the geological interpretation and the commercial viability of mining the deposit. The Beta Hunt complex as a whole now hosts 21.7 million tonnes of ore reserve at 2.34g/t for 1.6 million ounces, a 201 percent increase since acquisition just over a year ago.
These numbers reflect the scale of value unlocked through methodical exploration. Westgold has completed more than 85 kilometres of drilling across Fletcher and backed the reserve with completed mine planning, commercial evaluation, and a Pre-Feasibility Study. The company is advancing a Definitive Feasibility Study for the 4Mtpa scenario, bringing substantial rigour to what was once a conceptual opportunity.
Investors should monitor three key developments. Completion of the 4Mtpa processing expansion study will establish technical and economic feasibility of the larger footprint. An underground mass-haulage study specific to Fletcher will address operational efficiency from depth. Continued drilling at Fletcher’s northern extension and the Mason target to the south will test additional upside potential. The pace and results of these work streams, combined with the rigour demonstrated in the existing reserve estimation, underscore why this announcement has been flagged as price sensitive and material to the ASX.
View the full ASX announcement (PDF)
About Westgold Resources Limited (ASX: WGX)
Westgold Resources Limited is an Australian gold mining company that explores, develops, and operates gold mines in Western Australia. The company operates mining facilities across the Murchison and Southern Goldfields regions and recently expanded its operations through the acquisition of Karora Resources. Westgold is listed on both the Australian Securities Exchange (ASX) and the Toronto Venture Exchange (TSX).
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