Westgold Resources Restarts Iconic Gold Mine

SEATTLE (Scrap Monster): Westgold Resources has taken the first cut at the historic Great Fingall mine, which has not seen underground mining in almost a century.

Great Fingall, located 5km southwest of Cue in WA, delivered 1.2 million ounces (Moz) of gold between 1891 and 1929.

Now Westgold is has commenced decline development at Fingall with the goal of turning it into a long-life, high-grade asset producing over 45,000 ounces per year. Gold is expected to be processed at Westgold’s nearby Tuckabianna processing hub at an all-in sustaining cost of $1801 per ounce.

First ore is expected in the first half of 2025, with an estimated payback for the mine of four years.

Westgold Resources managing director Wayne Bramwell said Fingall may have even more to give.

“Great Fingall is one of four +1Moz historic producing mines in Westgold’s portfolio,” he said.

“Importantly, significant upside exists from known shallow high-grade, flat and linking structures that we will develop through as we push the decline past the shallow remnant mining areas to the virgin extensions of this high-grade orebody.

“These opportunities, which could deliver additional ounces during FY24 (2024 financial year), have not yet been included in the current business case or design.”

Westgold acquired Fingall alongside Golden Crown mine through its acquisition of Aragon Resources in 2011.

Golden Crown was mined exclusively as an underground mine on a small scale between 1897 and 1902 and more recently between 1986 and 1996. During the latter period, Golden Crown produced 288,000 oz of gold from 648,000 tonnes of ore at a grade 13.8 grams per tonne of gold.

Great Fingall and Golden Crown are separated by roughly 700m along the Great Fingall dolerite, a prospective mineralised trend which hosts numerous other historic open pits and shallow underground orebodies.

Courtesy: www.australianresourcesandinvestment.com.au