Overview

Exploration is a key driver of Westgold’s success. Our exploration team is responsible for both brownfields/extensional exploration and greenfields exploration across our tenure.

Westgold holds a highly prospective land package within the Murchison region of Western Australia spanning some 1,300km². The Murchison hosts an historic gold production endowment of more than 35Moz (million ounces) with Westgold controlling five of six known mining centres greater than 2Moz (Paddy’s Flat, Yaloginda/Bluebird, Day Dawn, Cuddingwarra and Big Bell).

Contrary to the common misconception that this region of Western Australia is well explored, most of Westgold's tenement package remains vastly under-drilled, particularly at depths below 100m.

One of the keys to Westgold's turnaround in FY23 was investment in exploration. With $19M spent during the period across brownfields and greenfields targets, Westgold delivered Mineral Resource growth for the first time since FY17 and growth in both defined Mineral Resource and Ore Reserve grade (see Figure 1). The Exploration team significantly contributed to this success through extensive extensional drilling programs at Great Fingall (Fingall Deeps).

Westgold is again increasing its investment in exploration with $25M forecast to be spent in the 2024 financial year.

Figure 1 - Growth in Resource tonnes and grade in FY23