Lagalochan

A rare, underexplored copper-gold porphyry system with district-scale potential

Lagalochan is an exploration-stage copper-gold porphyry project located near Kilmelford, Argyll, and represents one of the few known examples of ancient porphyry mineralisation globally. The system formed approximately 420 million years ago during the development of the Caledonian orogenic belt - a metallogenic province that spans the UK, USA, Scandinavia and Greenland.

Like many globally significant porphyry deposits, Lagalochan displays a highly prospective high-K calc-alkaline geochemical signature, comparable to major systems such as Red Chris (British Columbia) and Bingham Canyon (Utah). Within the wider Caledonian belt, only the Gaspe deposit (Quebec) is currently in production, highlighting the rarity and potential importance of the Lagalochan system.

A National Instrument 43-101 compliant Technical Report for Lagalochan (filed 29 November 2022) is available on SEDAR+ and below.

Drilling Results

Drilling at Lagalochan has primarily targeted the North Hill area, where a copper-gold stockwork core zone and a gold-rich breccia zone extend over 500 m vertically and remain open in all directions. Key interceptions include:

Copper-gold stockwork

• 537 m @ 0.18% Cu, 0.1 g/t Au, 2.58 g/t Ag (from 2 m, hole LD13-01A)
• 530.5 m @ 0.17% Cu, 0.11 g/t Au, 2.67 g/t Ag (from 3 m, hole LD18-04)

Gold-rich breccia & epithermal zones

• 36 m @ 1.2 g/t Au (from 43.83 m), incl. 0.8 m @ 13.2 g/t Au (hole LG-1)
• 35 m @ 0.6 g/t Au, 0.21% Cu (from 141 m), including:
  • 1 m @ 13.4 g/t Au, 0.95% Cu, 26 g/t Ag (hole LD84-34)

A step-out programme conducted by the Company in 2023/2024 extended the North Hill mineralisation footprint over 800 m west of historic drilling, confirming additional high-grade gold mineralisation, including 1.3 m @ 20.8 g/t Au (from 109 m) and 1.0 m @ 8.49 g/t Au (from 52 m) [hole WGLD001].

To date, 11,090 m of diamond drilling across 56 holes have been completed.

Magnetotelluric (MT) Geophysics Survey

In Q3 2024, Western Gold completed the first-ever airborne MT geophysical survey in the UK, covering ~100 km² of the Inverliever Crown Lease. The survey imaged the subsurface to depths of ~1.5 km, mapping potential porphyry-related anomalies across the Lorne Porphyry District. Lagalochan survey highlights include:

• Strong correlation between known mineralisation and MT anomalies.
• A pronounced conductivity–resistivity gradient marking the North Hill system.
• A new high-conductivity anomaly at ~500 m depth south of historic drilling—interpreted as a sulphide-rich breccia body.
• All MT anomalies remain untested by drilling, providing significant exploration upside.