Gold Duke Project Secures A$6.75M Funding, 35,000m Drilling Confirms Ore Continuity

A Milestone for Western Gold Resources

Western Gold Resources (WGR) has reached a pivotal moment with its Board formally approving the Decision to Mine for the Gold Duke Project in Western Australia. This approval signals the company’s transition from an exploration-focused entity to a near-term gold producer, a significant step that investors have awaited with anticipation.

The Decision to Mine follows an intensive 12-month technical campaign, including a comprehensive 35,000-metre grade control drilling program. This drilling, conducted at close spacing, has confirmed excellent continuity of mineralised structures across the Stage 1 deposits, Golden Monarch, Eagle, Emu, and Gold King, providing the geological confidence necessary to define ore boundaries accurately and optimise mining schedules.

Strong Foundations and Strategic Partnerships

WGR’s approach to de-risking the project is evident in its securing of all necessary regulatory approvals, a binding toll milling agreement with Wiluna Mining Corporation, and the selection of SSH Group as the preferred mining contractor. The toll milling agreement is particularly noteworthy, granting WGR access to a modern processing plant just 46 kilometres from the site, which reduces logistical complexity and accelerates the timeline to first gold.

SSH Group’s involvement, coupled with a deferred payment facility, alleviates early capital pressures and aligns contractor incentives with operational performance. This arrangement underscores WGR’s strategic focus on maintaining strong margins and operational efficiency as it moves toward production.

Funding and Forward Outlook

Financially, the project is well positioned. The recent A$6.75 million capital raising, supported by both international and domestic institutional investors, alongside the deferred payment facility, ensures WGR is fully funded through to production. This financial backing, combined with the low-capital start-up profile and robust gold prices, bodes well for the project’s economics.

Looking ahead, WGR plans to finalise and release updated mineral resource models by the end of 2025, which will incorporate the latest drilling data and further refine mine scheduling. Mobilisation and site establishment activities are slated for the first quarter of 2026, with first gold production targeted for late Q1 2026, an ambitious but achievable timeline given the groundwork laid.

Community and Regulatory Engagement

Importantly, WGR continues to engage with traditional owners and stakeholders, adhering to existing native title and heritage agreements. This ongoing consultation reflects the company’s commitment to responsible mining practices and community partnership, which remain critical as operations ramp up.

While the Decision to Mine marks a major milestone, the company acknowledges that final mine design, scheduling, and contract executions are still underway. These steps, alongside external factors such as commodity price fluctuations and regulatory approvals, will influence the project’s ultimate trajectory.