wgr mineweb article

Guys
Just written by Ross louthean at Mineweb,

By the way, i still believe that the offer is not generous enough.

Jimmy

The latest in a series of drill holes at the Rover 1 project in the Tennant Creek field of Australia's Northern Territory has helped refine Westgold's mine development blueprint
Author: Ross Louthean
Posted: Wednesday , 30 Mar 2011



WESTPORT, NEW ZEALAND -
Westgold Resources Ltd (ASX: WGR) has completed a drilling programme on the Rover 1 copper-gold project that it now says demonstrates substantial high grade gold and copper depth extensions of the main Jupiter Zone, which remains open.
True width of the ore system at depth appears to be between 10 and 20 metres, with high grades encountered 300m below the existing mine plan.
This, managing director Andrew Beckwith said, represents a 100% increase in the vertical extent of "potentially economic mineralisation" since completion of the 2010 mine development study.
The latest drill result revealed by the company was an intercept of 20m grading 6.13 grams/tonne gold and 3.26% copper from 935m depth, including a 6m section at 15.14 g/t Au and 6.02% Cu.
Beckwith said Westgold expects this new extension will provide "significant positive financial uplift to both the overall economics and mine life of the project."
He said the latest results add weight to the interpretation that the Jupiter Deeps may link with high grade gold mineralisation such at a 6m hit at 9.5 g/t Au and 9m hit @ 6 g/t Au, located a further 200m down dip in the Southern Zone.
"This link would provide over 800m of vertical extent to the Rover 1 high grade system with mineralisation remaining open at depth," he said.
Beckwith pointed out that the previous mining study only considered mining the known 1 million oz gold equivalent JORC resource between 300 and 600 vertical metres.
This newly defined Jupiter Deeps zone now has the potential to extend mining to about 900 vertical metres with potentially economic mineralisation remaining at 1,100m below surface.
Westgold chairman Michael Atkins commented: "These new results demonstrate the robust high grade nature of Westgold's 100% owned Rover 1 deposit.
"We have found our first large Tennant Creek deposit and are forging ahead with development at Rover 1 and expect to discover more deposits in this highly prospective region."