1.1Moz Maiden Fletcher Ore Reserve

About this update from Westgold Resources Ltd

30% increase in Fletcher Total Resource with a 426% increase in the Indicated Resource classification PERTH, Western Australia, Aug. 18, 2026 /CNW/ -- Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) is pleased to announce a maiden Ore Reserve and an updated Mineral Resource for the Fletcher deposit. Fletcher is an emerging mining opportunity and is one of three major mineralised systems within Westgold's Beta Hunt mining complex at Kambalda, Western Australia. Highlights Maiden Fletcher Ore Reserve of 13.5Mt at 2.6g/t Au for 1.1Moz establishes a substantial new mineable inventory at Beta Hunt - supported by completed mine planning, commercial evaluation and a Pre-Feasibility Study. Fletcher's Mineral Resource has increased by approximately 30% to 40.1Mt at 2.3g/t Au for 3.0Moz - including a 426% increase in Indicated Mineral Resource ounces to 1.55Moz at 2.7g/t Au. Approximately 74% of the updated Indicated Mineral Resource ounces have converted into the maiden Ore Reserve for Fletcher - materially enhancing the confidence and potential scale for Fletcher to become a third mining front at Beta Hunt. Total Beta Hunt Ore Reserve now stands at 21.7Mt at 2.34g/t Au for 1.6Moz and Mineral Resource at 74.6Mt at 2.25g/t Au for 5.4Moz - representing 201% increase in Ore Reserve and 104% increase in Mineral Resource since acquisition in August 20241. Increasing scale of Fletcher now underpins assessment of a 4Mtpa processing case - with the Definitive Feasibility Study now being advanced ahead of the 2.6Mtpa Higginsville expansion. Upcoming catalysts include: Westgold Managing Director and CEO Wayne Bramwell commented: "Westgold's corporate strategy remains clearly focused on expanding and optimising our largest mining and processing assets to maximise free cash flow. Drilling at Beta Hunt continues to unlock material value for shareholders, with the emerging Fletcher Zone now contributing more than 1Moz of Ore Reserve and 3Moz of Mineral Resource growth. Beta Hunt is the key growth driver in our Southern Goldfields business, with our capital investment focussed on lifting mine productivity. Westgold is currently mining from two established mining fronts with mine output scheduled to increase from 1.7Mtpa to 2Mtpa during FY27. This planned uplift excludes any contribution from the emerging Fletcher and Mason oreb...

View stock analysis, news, and events for Westgold Resources Ltd