WA Gold touts robust Abercromby scoping study and ramps up drilling

BMG Resources Limited ( (AU:WAU) ) has shared an announcement.

WA Gold Limited has delivered a strong Scoping Study for its Abercromby Gold Project in Western Australia, outlining a Stage 1 mine plan with forecast pre-tax net cashflow of about A$243 million to A$297 million and an NPV7 of A$205 million to A$253 million. The study highlights low pre-production capital of A$8 million, an initial production target of roughly 114,000oz of gold with about 90% in the Indicated category, robust metallurgical recoveries of 94%, and significant leverage to both higher gold prices and potential conversion of existing resources into future mine inventory.

The company is running a 10,000m, around-the-clock resource drilling program at Abercromby, with 2,200m completed, to extend the 518,000oz Mineral Resource, which remains open at depth and along strike and includes the high-priority Capital Deposit. Corporate developments during the quarter included the appointment of Ben Pollard as CEO, Gareth McArthur as General Manager of Project Development, completion of a A$2.5 million capital raise, and a rebrand to WA Gold Limited with the ASX ticker WAU, positioning the company for the next phase of project advancement.

More about BMG Resources Limited

WA Gold Limited is an Australian gold exploration and development company focused on the Abercromby Gold Project in Western Australia. The company is advancing free-milling gold resources amenable to conventional carbon-in-leach processing, targeting both open-pit and underground mining with a strategy to grow its current 518,000oz JORC Mineral Resource through ongoing drilling.

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Current Market Cap: A$41.62M

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