Norwest Minerals Limited has reported a significant update to its Bulgera Gold Project, announcing a 33% increase in its gold resource inventory. The revised resource model now reports 8.4 million tonnes grading 1.07 g/t gold, equivalent to 288,400 ounces—a jump of 70,800 ounces over the previous estimate. This upgrade resulted from a comprehensive reinterpretation of the project's 3D geological model and the inclusion of new gold zones, such as those along the margins of known shear zones, around near-surface oxide areas, and within newly defined prospects beyond the historic mining centre. The revision also reflects a shift in the economic parameters driven by the doubling of the gold price to A$5,000/oz compared to earlier models. The updated resource is split into indicated and inferred categories, with 3.43 million tonnes (yielding 105,020 ounces) classified as indicated and 4.96 million tonnes (183,400 ounces) as inferred. These figures are based on an extensive drill database, which includes historic drilling as well as Norwest’s more recent RC and diamond drilling from 2019 to 2021. The model was compiled by independent experts using industry-standard software and techniques, ensuring compliance with JORC 2012 standards. Moreover, the timing of the update coincides with the recommencement of a reverse circulation drilling program aimed at targeting down-dip mineralization below both established and newly modeled gold-bearing shear zones. The project’s enhanced resource base, coupled with the renewed drilling campaign, is expected to potentially unlock additional gold discoveries, particularly in deeper zones where higher gold grades have been consistently encountered. The technical strategy, which includes step-out drilling along several shear structures, underlines the company’s commitment to progressively upgrading the inferred resources to the indicated category through further infill drilling and exploration work. Market sentiment surrounding the news can be viewed from a bullish and bearish perspective. On the bullish side, the resource upgrade reinforces the project’s potential as a high-value asset, bolstered by robust geological modeling and a favorable gold price environment. The recommencement of drilling and the possibility of major new discoveries provide an optimistic outlook, especially for investors looking for long-term growth in the gold sector. Conversely, the bearish perspective notes that a higher proportion of the current resource is still classified as inferred, meaning there is inherent uncertainty until further drilling upgrades these estimates to indicated status. Additionally, mining and processing risks remain as the project transitions from exploration to potential production, which may temper near-term investor enthusiasm. This development marks an important step forward for Norwest Minerals Limited, with the updated technical indicators and planned drilling program positioning the Bulgera Gold Project as a promising opportunity in the gold exploration space.