11:38 AEST Oct 14, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.
Perth, Australia (ABN Newswire) -
Westgold Resources Limited (ASX:WGR) ('Westgold') advises that it has recently completed a further round of evaluation drilling at its newly discovered Jim's Find prospect at the Cuddingwarra Goldfield in its Central Murchison Gold Project (CGMP). Jim's Find is located approximately 15 kilometres from the proposed site of the CMGP processing facility at Big Bell, with haul road infrastructure in place from the previous mining of open pits at the City of Chester prospect where 92,000t at 3.14 g/t Au was mined.
Jim's Find is a virgin discovery and manifests as a mineralised shear zone in mafic rocks. Pattern drilling has confirmed a strike-length of 300 metres with the system remaining open to the south and at depth.
This current round of drilling has confirmed the shallow mineralization encountered in the first round of drilling at Jim's Find. The better results from the program include:
- CDRC0717 - 2m at 14.83g/t Au from 31m
- CDRC0720 - 10m at 2.66g/t Au from 10m
- CDRC0724 - 5m at 3.31g/t Au from 31m
- CDRC0731 - 14m at 2.49g/t Au from 47m
- CDRC0738 - 8m at 3.61g/t Au from 16m
- CDRC0739 - 3m at 6.07g/t Au from 41m
- CDRC0740 - 13m at 3.62g/t Au from 65m
Westgold Managing Director Scott Huffadine said: 'This is a solid result. We expect that Jim's Find will shape up to be a modest size open pit and become one of a number of complimentary open-pit mining options for the Central Murchison Gold Project. Importantly, it confirms the potential to make further new discoveries of near surface and open-pittable gold mineralisation in the region'.
'Our development plans remain on track, with the Central Murchison Gold Project continuing to form a key part of our platform to build a mid-tier gold producer from two mining centres in proven goldfields.'
For the complete announcement including figures, please view:
http://media.abnnewswire.net/media/en/docs/ASX-WGR-561279.pdf
About Westgold Resources Limited:
Westgold Resources Limited (ASX:WGR) has established the strong platform to build Australia’s next mid-tier Gold producer targeting production of 200,000 ounces per annum. This will be sourced from two main production centres located within two geological provinces which have historical combined production in excess of 10 Million ounces of gold.
The key projects are the Rover 1 Gold-Copper Project in the Northern Territory and the Central Murchison Gold Project in Western Australia which contain a 3 Million ounce gold equivalent resource base in aggregate. Both projects hold significant underlying exploration potential which will see the company well positioned to advance to production and build a project pipeline leveraging shareholder value from long life projects with established infrastructure.
The Company is building near term gold production from an integrated open pit and underground mining operation at the brown fields Central Murchison Gold Project (CMGP) and will move to develop a decline access to the Rover 1 deposit over the next 12 months.
Contact:
Scott Huffadine, Managing Director
Andrew Beckwith, Director - Exploration
Phone: +61-8-9326-5700
Email: admin@westgold.com.au
