Westgold Resources Limited (ASX:WGR) Announce Strong Initial Results at Central Murchison Gold Project and Project Update
Perth, Sep 9, 2011 AEST (ABN Newswire) - Westgold Resources Limited (
ASX:WGR) is pleased to announce that, in line with the development strategy for the Central Murchison project, a review of the assets commenced in June and an RC drill rig mobilised to site in late August.
The rig is currently drilling shallow open pit targets capable of supporting the existing high grade underground reserves.
The program will also complete the drill-out of the Jim's Find prospect to support resource estimation and subsequent reserve calculation.
Initial drilling has focussed on the Big Bell shear zone at Big Bell South, located 500m from the currently proposed site for the new processing facility.
This drilling was designed to validate the along-strike and down-dip extensions of the unmined southern section of the Big Bell pit.
Drilling has confirmed the base of the previous workings which are partially backfilled, and has in-filled existing intersections in the ore body below the pit.
Further drilling is planned to assist with resource estimation, with the aim of subsequently defining open pit reserves within close proximity to the proposed mill.
Hole BRC596 (98m at 1.59g/t from 101m) has been successful in validating the backfill limits of the previous mine workings and confirms the mineralisation below the pit.
This hole dipped into and drilled down the dip of the orebody confirming down dip continuity and identifying several internal high grade intervals.
These results indicate an increase in the width of the mineralised shear in this area from 20 metres up to 30 metres wide, and at depths considered suitable for open pit mining methods.
Further infill drilling will be undertaken to confirm this interpretation.
Westgold's Managing Director ScottHuffadine said, "this is a great result from the first round of drilling arising from the review instigated in early June, it clearly highlights the potential in the broader Big Bell trend and certainly bodes well for the drilling planned here and at the other open pit targets in close proximity to the planned plant site."
The review of the Big Bell mineralised trend has also highlighted the potential which exists below and along strike of the existing resources at Fender, 700/1100 and 1600N/Shocker.
These resources will be incorporated into a global model and optimised in aggregate, ensuring any benefits of scale are realised during future mining.
To date this review has only considered 4km of the 25km of strike of the Big Bell structural corridor which lies within the Company's tenements.
Further drilling and evaluation is planned.
Resource drilling at Jim's Find, in the Cuddingwarra area approximately 10 kilometres east of Big Bell, has commenced and is planned to be completed by late September.
Generation of a resource estimate will take place pending results and interpretation. The Company intends to maintain arig capable of RC and diamond drilling on site permanently to advance the development of additional targets.
Rover Project
The strategy to systematically drill test the six highest priority geophysical targets generated from the recent incorporation of the powerful Heli-TEM geophysical method has commenced.
Two holes have been completed at the Rover 7 deposit, with low level chlorite and magnetite alteration noted.
A downhole magnetic probe survey has been carried out to identify any stronger potential magnetic sources off hole.
This has been done on the basis that the observed alteration is not considered sufficient to generate the recorded magnetic response evident in the airborne data.
All casing has been left in the hole to allow for re-entry pending results. While the results at Rover 7 are modeled and evaluated for further drilling,
drilling has commenced at the Pathfinder 1 magnetic-gravity-EM target, located approximately 25 kilometres south west of Rover 1.
The first hole has confirmed the presence of magnetite and chlorite alteration, ranging in scale from narrow veins to broader zones within a brecciated lithology.
This style of alteration and mineral assemblage is considered encouraging and provides strong support for further drilling.
Geological and geophysical evaluation is underway with assay samples yet to be submitted.
Drilling of a second hole is currently in progress.
For the complete Westgold Resources Limited announcement including figures and tables, please view:
http://media.abnnewswire.net/media/en/docs/ASX-WGR-556556.pdf
About Westgold Resources Limited
Westgold Resources Limited (ASX:WGX) is a dynamic and responsible explorer and developer of gold mines operating in the prolific goldfields of outback Western Australia.
Westgold typifies the world-leading mining technology, ingenuity and pioneering attitude that Australia's mining industry is renowned for by uniquely being the owner-operator of its mines and projects.
Our overall business has two main pillars - gold operations in the Murchison region of Western Australia and a specialised wholly-owned underground mining services arm - Westgold Mining Services.
We strive to create wealth for our shareholders with a respectful and grateful manner knowing we are the custodian of their assets and resources.
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