Spectacular Results from exploration into virgin areas of the Paddy’s Flat ore system - Westgold, an exploration Company recently provided an update on its underground exploration into virgin areas of the Paddy’s Flat ore system at its Meekatharra Gold Operations (MGO).  Its first underground drilling into the virgin zones beneath the Fenian’s–Consol’s spurs have returned spectacular results providing high-hopes for a continuation of these prolific high grade lodes at depth, and importantly an impending boost to the overall once per vertical metre (OVM) of the ore system. Otherwise Paddy’s Flat has historically produced in excess of one million ounces of gold, mainly from historic underground mines, most of which have been untapped for nearly 80 years. The core production centre of the field is the Fenian’s–Consol’s–Marmont mines which produced 832,000 ounces. Deeper surface holes that were drilled by past operators returned few intercepts within interpreted spur structures and these included drilling 0.3 metres at 168.0 g/t Au from 399.85 metres in VIRCD019 (spur on hangingwall contact of porphyry), 3 metres at 472.9 g/t Au from 339 metres in 04VIRCD0012 (spur on hangingwall contact of porphyry), 2 metres at 44.4 g/t Au from 279 metres in 06VIRD004 (spur in porphyry) and 6 metres at 81.65 g/t Au from 94 metres in 91PFRC010 (spur remnants in Fenian).


The Fenian’s–Consol’s–Marmont ore shoot (Source: Company Reports)

A decision was made to hold off detailed infill drilling of the Fenian’s–Consol’s extensions until underground development on the eastern Fatts Lode could provide a better drill angle and shorter drill distances to allow increased accuracy in targeting. The first target to be tested is the north-dipping South-East Spur, which runs from the upper levels of Fenian’s before crossing over into the Consol’s mine at level 10 and The South-East Spur is consistent, well-understood, predictable and has a recorded recovered production grade of 25.34 g/t. This drill program was the first comprehensive test of the South-East Spur below the base of historic mining in the Consol’s area.

Very significantly, four of five holes completed have intersected high grade intervals with lithologies and grades as described by historical reports within a 2-3 metre of the target plane, or a void (18VIDD091) confirming the tenor of, the spatial location of, and historic mining records relating to the South-East Spur. The Group’s focus will now turn to the definition of the broader Fenian’s–Consol’s mineralised zone as more appropriate drill angles become available when the Consol’s decline progresses the remaining 100 vertical metres to the virgin Fenian’s–Consol’s lode positions over the ensuing year. The stock was down by 17.08 per cent in the past one year but started recovering in last three months and climbed up by 5.02 per cent. The stock was up by 8.41 per cent in last five days. We give a “Buy” recommendation at the current market price of $1.69 by looking at the future potential.

 
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