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Norwest Minerals Ltd. ( (AU:NWM) ) just unveiled an update.
Norwest Minerals has announced a major upgrade to the Mineral Resource Estimate at its Bulgera Gold Project, increasing total resources by 74% to 23.8 million tonnes at 0.65 grams per tonne for 501,000 ounces of gold. The increase reflects integration of recent Phase 1 and 2 reverse circulation drilling, which extended mineralisation up to 300 metres below previous models along the Price-Mercuri trend, and a lower cut-off grade of 0.24 grams per tonne to match Australian heap-leach benchmarks.
On the back of the enlarged resource, Norwest is shifting its strategy toward a minimum one million tonne per annum heap-leach development concept and has started detailed study work aimed at moving Bulgera toward production. Ongoing metallurgical testing, environmental reviews, mining optimisation and permitting efforts are intended to determine whether Bulgera can be developed into a low-capex, high-margin gold operation, potentially enhancing the project’s commercial attractiveness and Norwest’s standing in the gold sector.
The most recent analyst rating on (AU:NWM) stock is a Sell with a A$0.01 price target. To see the full list of analyst forecasts on Norwest Minerals Ltd. stock, see the AU:NWM Stock Forecast page.
More about Norwest Minerals Ltd.
Norwest Minerals Ltd. is an Australian gold exploration and development company focused on advancing its 100% owned Bulgera Gold Project. The company is positioning Bulgera as a potential heap-leach operation targeting low-CAPEX, high-margin gold production in a supportive high gold price environment.
Average Trading Volume: 3,317,744
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$15.14M
Learn more about NWM stock on TipRanks’ Stock Analysis page.