11:56 AM EDT, 06/23/2025 (MT Newswires) -- (Updates shares.)

Westgold Resources ( WGXRF ) on Sunday released a maiden mineral resource estimate (MRE) for the Fletcher Zone at the Beta Hunt mine in Western Australia.

According to the MRE, the Fletcher Zone has 31-million tonnes of ore at 2.3-grams per tonne for 2.3-million ounces of gold.

Stage 1 Fletcher Zone mineralization extends over a zone up to 500 meters in width and 2 kilometers in strike length with a vertical extent of over 800 meters. There is significant opportunity for resource extensions, the company said.

Westgold aims for a maiden ore reserve in fiscal year 2026 after commencing Stage 1 mineral resource conversion drilling at Fletcher.

"This result points to the growth potential of Beta Hunt, and while this is a material milestone for Westgold, it is simply the first step on what is likely to be a multi-decade journey for Fletcher in an expanded Beta Hunt mine plan," said chief executive Wayne Bramwell.

Westgold shares were last seen up $0.16 to $2.60 on the TSX Venture Exchange.

Price: 2.60, Change: +0.16, Percent Change: +6.56