Westgold (ASX:WGX) rings Big Bell
Westgold Resources has outlined expansion plans for the Big Bell mine in Cue after consistently outperforming pre-feasibility 1 mtpa since official production recommenced at the historic gold operation last quarter.
The mine, first brought into operations in the 1980s, had produced 2.6 million ounces of gold at its main period of closure by previous operator Harmony Gold in 2003, having been reopened for a short time in 2008.
The Company said optimisation studies have seen production rates increase from 88kt per month over the first six months of 2023 (FY2023 budget) to a currently expected 102kt per month.
“With Big Bell now producing consistently above original targets and with 4 years of developed ore ahead of us, we are now evaluating a second operation utilising conventional long hole open stoping (LHOS) methods, well below the existing sub-level cave,” Managing Director Wayne Bramwell said.
“The PFS contemplates utilising the existing mine infrastructure to support the existing sub-level cave and a LHOS operation within the same footprint to lift grade, reduce mining costs and increase production rate upwards towards 1.4mtpa.
“Results of the study are expected to be ready for Board review in Q4 FY23”.
Price Action
The Company’s ASX-listed shares are 78.5c at Market Open.
Next Steps
Phase 2 studies now contemplate additional production from conventional long hole open stoping operation below the sub-level cave to lift production rates towards 1.3-1.4mtpa.
A scoping study has been completed with initial results from a Pre-Feasibility Study anticipated during Q4 FY23.
Big Bell History
Mining at Big Bell commenced in the early 1920’s a1920saft mine and glory hole-type open pit. The current open pit void was excavated between April 1989 and 1993, with a portal cut in late 1993 by previous operators to provide underground access. The modern underground,d mine commenced in 1994, closing in June 2003 when the A$ gold price fell to below $500/oz. Figure 1 depicts Westgold’s extensive Cue assets extending across the Big Bell, Cuddingwarra, Day Dawn and Tuckabianna gold mining centres and includes the modern 1.4Mtpa Tuckabianna processing hub.
Current Operations
During FY23, Big Bell has performed consistently and can now sustain the 1.4mtpa Tuckabianna processing plant in isolation with the addition of minor volumes of top-up surface stockpiles. Importantly, this production level is well within the capacity of the existing mining fleet, with overproduction levels across the business over recent months translating into cost savings with no negative impact on safety or production.