# 1.1Moz Maiden Fletcher Ore Reserve Westgold Resources Limited \(ASX: WGX\) \(TSX: WGX\) \(Westgold or the Company\) is pleased to announce a maiden Ore Reserve and an updated Mineral... Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/1-1moz-maiden-fletcher-ore-reserve-westgold-resources-limited-asx-wgx-tsx-wgx-we--c24e728a-4ca5-4c91-ae11-b079afde27e7 Original source: https://www.newswire.ca/news-releases/1-1moz-maiden-fletcher-ore-reserve-882480643.html Publisher: cnw Original announcement: 2026-08-18T17:34:19.888Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Westgold Resources Limited - Ticker: WGX - Exchange: Unavailable - Region: Western Australia - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-08-24 04:05:10 UTC Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas summary Westgold Resources has announced a maiden Probable Ore Reserve of 1.1Moz \(13.5Mt at 2.6g/t Au\) for its Fletcher deposit, supported by a Pre-Feasibility Study. Concurrently, the Fletcher Mineral Resource has been updated, showing a 30% increase to 3.0Moz \(40.1Mt at 2.3g/t Au\), with Indicated Mineral Resource ounces growing by 426% to 1.55Moz. This update significantly de-risks the project and positions Fletcher as a key growth driver for the company's Beta Hunt mining complex. Reasoning: Westgold Resources announced a maiden Probable Ore Reserve of 1.1Moz for the Fletcher deposit, supported by a Pre-Feasibility Study. This was accompanied by a substantial Mineral Resource update, showing a 30% increase in total ounces to 3.0Moz and a 426% increase in Indicated ounces, significantly de-risking the project and enhancing its scale. - Positive factor: Maiden Ore Reserve declared - Positive factor: Significant increase in Indicated Mineral Resource \(426%\) - Positive factor: Overall Mineral Resource growth \(30%\) - Positive factor: High conversion rate from Indicated Resource to Ore Reserve \(74%\) - Positive factor: JORC Code compliant estimates - Positive factor: Qualified Person sign-off for both MRE and Ore Reserve - Positive factor: Pre-Feasibility Study completed for Ore Reserve - Positive factor: Established processing route assumed Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 3 ## Classification and evidence **Maiden Ore Reserve** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: The company announced a 'Maiden Fletcher Ore Reserve of 13.5Mt at 2.6g/t Au for 1.1Moz'. Evidence · text > Maiden Fletcher Ore Reserve of 13.5Mt at 2.6g/t Au for 1.1Moz **Category Upgrade** Polarity: positive Definition: Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal. Why it applies: The document highlights a '426% increase in Indicated Mineral Resource ounces to 1.55Moz at 2.7g/t Au'. Evidence · text > 426% increase in Indicated Mineral Resource ounces to 1.55Moz at 2.7g/t Au **Tonnage Growth** Polarity: positive Definition: Significant tonnage increase \(≥15%\) vs prior estimate with grade maintained or improved. Why it applies: Fletcher's Mineral Resource has increased by approximately 30% to 40.1Mt. Evidence · text > Fletcher's Mineral Resource has increased by approximately 30% to 40.1Mt **Contained Metal Growth** Polarity: positive Definition: True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes. Why it applies: The Mineral Resource increased from 2.325Moz in June 2025 to 3.025Moz in June 2026. Evidence · table > 3,025,000 Context: 40,146,000 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr. Jake Russell \(AIG\) is the Competent Person for MRE and Mr. Leigh Devlin \(FAusIMM\) is the Competent Person for Ore Reserves. Evidence · text > Mr. Jake Russell B.Sc. \(Hons\), who is a member of the Australian Institute of Geoscientists... Mr. Leigh Devlin B.Eng. FAusIMM **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: Mineral Resources and Ore Reserves are calculated in accordance with the JORC Code \(2012\). Evidence · text > JORC Code \(2012\) **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: The Fletcher Ore Reserve is supported by a Pre-Feasibility Study completed by Westgold during 2026. Evidence · text > The Fletcher Ore Reserve is supported by a Pre-Feasibility Study completed by Westgold during 2026. **Probable Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: The entire maiden Ore Reserve of 1.145Moz is classified as Probable. Evidence · table > Probable Context: 13,474,000 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The updated Mineral Resource includes 18,029,000 tonnes at 2.7 g/t Au for 1,553,000 ounces in the Indicated category. Evidence · table > Indicated Context: 18,029,000 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The updated Mineral Resource includes 22,117,000 tonnes at 2.1 g/t Au for 1,472,000 ounces in the Inferred category. Evidence · table > Inferred Context: 22,117,000 **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: Cut-off grades for the Ore Reserve \(2.1g/t, 1.4g/t, 1.0g/t\) and Mineral Resource \(1.2g/t\) are clearly stated. Evidence · text > Full Costed COG 2.1g/t... Mine Operating COG 1.4g/t... Development COG 1.0g/t... reported above 1.2g/t Au ## Extracted facts Stored fact records: 3. Some facts used in scoring do not have a stored record. ## Resource Estimates (3) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/1-1moz-maiden-fletcher-ore-reserve-westgold-resources-limited-asx-wgx-tsx-wgx-we--c24e728a-4ca5-4c91-ae11-b079afde27e7#fact-resource-facts-0) Fletcher · gold #### Identity - Project: Fletcher - Commodity: gold - Ticker: WGX #### Resource Data - Category: indicated - Tonnes: 18029000 - Grade: 2.7 - Grade Unit: g/t - Contained Metal: 1553000 - Contained Unit: oz - Cutoff Grade: 1.2 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: The Indicated Mineral Resource for Fletcher increased by 426% to 1.55Moz, demonstrating a substantial upgrade in geological confidence and providing a strong base for the maiden Ore Reserve. - Positive factor: Significant increase in Indicated Resource \(426%\) - Positive factor: High confidence category - Positive factor: Supports Ore Reserve conversion Evidence · table > 1,553,000 Context: 18,029,000 ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/1-1moz-maiden-fletcher-ore-reserve-westgold-resources-limited-asx-wgx-tsx-wgx-we--c24e728a-4ca5-4c91-ae11-b079afde27e7#fact-resource-facts-1) Fletcher · gold #### Identity - Project: Fletcher - Commodity: gold - Ticker: WGX #### Resource Data - Category: inferred - Tonnes: 22117000 - Grade: 2.1 - Grade Unit: g/t - Contained Metal: 1472000 - Contained Unit: oz - Cutoff Grade: 1.2 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: The Inferred Mineral Resource of 1.47Moz contributes to the overall growth of the Fletcher deposit, although it represents a lower confidence category compared to Indicated resources. - Positive factor: Contributes to overall resource growth - Negative factor: Lower confidence category Evidence · table > 1,472,000 Context: 22,117,000 ### probable [Link to this fact](https://atlas-staging.minestarters.com/news/1-1moz-maiden-fletcher-ore-reserve-westgold-resources-limited-asx-wgx-tsx-wgx-we--c24e728a-4ca5-4c91-ae11-b079afde27e7#fact-resource-facts-2) Fletcher · gold #### Identity - Project: Fletcher - Commodity: gold - Ticker: WGX #### Resource Data - Category: probable - Tonnes: 13474000 - Grade: 2.6 - Grade Unit: g/t - Contained Metal: 1145000 - Contained Unit: oz - Cutoff Grade: 2.1 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-08-18T00:00:00.000Z Reasoning: The declaration of a maiden Probable Ore Reserve of 1.15Moz for Fletcher is a highly positive and material development, confirming the economic viability of a significant portion of the resource and de-risking the project. - Positive factor: Maiden Ore Reserve - Positive factor: Demonstrates economic viability - Positive factor: Supported by Pre-Feasibility Study - Positive factor: High conversion from Indicated Resource Evidence · table > 1,145,000 Context: 13,474,000 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.