Westgold Resources has announced that it has commenced development at the Great Fingall decline, with new equipment and a high-speed development crew mobilised to revitalise the historic mine.
The Great Fingall decline is located 5km southwest of Cue and 28km from Westgold’s Tuckabianna processing hub.
Westgold has said that early development is likely to intersect previously discovered linking reef structures – with potential to realise early production in 2024.
The project’s mine life is estimated at eight years, with first ore scheduled for the first half of 2025.
Westgold Managing Director, Wayne Bramwell, said that Great Fingall is one of four over 1Moz historic producing mines in Westgold’s portfolio.
“At steady state, Great Fingall will be a long-life, high-grade, high-margin underground mine, producing over 45,000oz a year,” Mr Bramwell said.
“Our base case plan boasts compelling returns, is fully funded from operational cash flows and focuses on deeper virgin reef extensions only.
“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 2024 financial year, have not yet been included in the current business case or design.
“Seeing this prolific and iconic mine restart under our stewardship is a proud day for everyone in Westgold and heralds a new phase in this historic goldfield’s evolution.”
Featured image: The original Great Fingall mine office. Image credit: Westgold Resources.
