WGR targets Gold Duke mining by year-end
WGR appoints local Goldfields drilling contractor for its Gold Duke project
Infill drilling program will ensure no additional grade control drilling is needed during production activities
Company expects to be mining by the end of 2025
Scoping study update expected in the near term
The project hosts shallow free-milling ore, enabling rapid, low-cost open-pit extraction and the company has already secured a binding toll milling agreement with Wiluna Mining Corporation.
The plan is for stage 1 production to include 447,000t at 2.55g/t gold for 34,000oz of gold from the Eagle, Emu, Gold King and Golden Monarch deposits.
Western Gold Resources (ASX:WGR) said the drilling represented another key step in advancing the Gold Duke Project, building operational momentum as the company moved toward development readiness.
The program will provide a high level of flexibility in mine scheduling as all pits will be fully drilled.
It will also remove the requirement for grade control drilling when the Gold Duke project is in production, i.e. drill up front, no more to do and less activity on site.
The drilling is scheduled for a mid-August start, with mobilisation, execution and duration strongly aligned with Western Gold Resources rapid path-to-production strategy for the project.
Mining by late 2025
The 2024 scoping study assumed a gold price of $3500/oz, well below the current Australian gold price above the $5100/oz mark.
The company anticipates announcing a significant improvement to the already impressive and robust project economics with a scoping study update expected in the coming weeks.
Confidence is only increasing for the projected timeline to begin mining operations late 4Q25.
'We are pleased to partner with VM Drilling, a highly experienced and trusted contractor with a strong track record in the WA Goldfields,' WGR managing director Cullum Winn said.
'Their technical capabilities, local operational base and operational readiness are ideally suited to our development strategy at Gold Duke.
'We look forward to a safe and efficient drilling campaign.'
VM Drilling will source much of its workforce from the Goldfields regions, supporting local employment and regional development.
This article was developed in collaboration with Western Gold Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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