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Norwest Minerals Ltd. ( (AU:NWM) ) has issued an update.
Norwest Minerals reported a 74% increase in the Mineral Resource at its Bulgera Gold Project to 501,000 ounces of gold, underpinned by deeper reverse circulation drilling and a lower cut-off grade aligned with Australian heap leach benchmarks. The upgraded 23.8 million tonnes of potentially leachable material and commencement of metallurgical, mining, environmental, and permitting studies advance Bulgera toward possible commercial heap leach production.
At the Marymia East Project, drilling returned high-grade gold intercepts that confirm greenstone-hosted shear zone mineralisation, with 3D modelling underway to assess potential maiden resources. Norwest also secured an at-the-market equity facility of up to A$3 million with Dolphin Corporate Investments, giving it flexible, low-dilution funding to pursue project growth and strengthen its development pipeline.
More about Norwest Minerals Ltd.
Norwest Minerals Limited is an Australian gold exploration and development company focused on projects in Western Australia’s Mid-West region. Its portfolio includes the flagship Bulgera Gold Project and the Marymia East Project, with an emerging strategy to develop large-scale heap leach operations supported by access to existing regional mining infrastructure.
Average Trading Volume: 2,353,867
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$12.98M
See more insights into NWM stock on TipRanks’ Stock Analysis page.