Nov 2, 2024

Warriedar Resources Hits 12m @ 6.98g/t Au at Ricciardo, Golden Range Project, Western Australia

Introduction:

Warriedar Resources Limited (ASX: WA8) has reported significant gold intercepts from diamond drilling at its Ricciardo deposit within the Golden Range Project in Western Australia's Murchison region, highlighted by 12m @ 6.98g/t Au from 110m.

Drill Results:

12m @ 6.98g/t Au from 110m (including 3m @ 22.12 g/t Au from 112m) (RDRC040DD)
19m @ 4.94g/t Au from 188m (includes contiguous final RC result of 4m @ 14.49g/t from 188m) (RDRC039DD)
16m @ 2.30 g/t Au from 243m (including 6m @ 3.13 g/t Au from 252m) (RDRC055DD)
17m @ 2.38 g/t Au from 264m (including 8m @ 4.03 g/t Au from 273m) (RDRC055DD)

Project Overview:

The Ricciardo deposit is part of the Golden Range Project, located in the Murchison region of Western Australia. It spans a strike length of approximately 2.3km and is part of the 25km-long 'Golden Corridor' which hosts six discrete deposits. The project is situated in a Tier 1 mining jurisdiction with established infrastructure and proximity to other mines and projects.

Ricciardo currently has a Mineral Resource Estimate of 8.7 Mt @ 1.7 g/t Au for 476 koz gold. The deposit is open at depth, with very limited drilling having been undertaken below 100m depth prior to this program.

Program Details:

The current drilling program at Ricciardo and M1 deposits has completed approximately 5,030m of RC drilling (29 holes) and 1,420m of diamond drilling (16 holes) to date. This represents the first diamond drilling at Ricciardo in ten years. The program aims to extend known mineralization and infill gaps in the current resource model.

Understanding These Results:

The reported intersections represent significant extensions to the existing Mineral Resource Estimate model below the Silverstone North pit and infill confidence to the MRE below the northern end of the Ardmore pit. The high-grade intercepts, particularly the 12m @ 6.98g/t Au from 110m, demonstrate the potential for resource growth and higher-grade zones within the deposit.

The results from hole RDRC055DD, which intersected 16m @ 2.30 g/t Au from 243m and 17m @ 2.38 g/t Au from 264m, extend the known strong-tenor mineralization at depth by a further 100m down-dip, with the deposit remaining open at depth. This is expected to contribute significantly to MRE growth in this area.

Management Commentary:

No direct quotes from management were provided in the announcement.

Next Steps & Catalysts:

The diamond drilling program is ongoing, with approximately 2,200m of diamond drilling planned as part of the current phase of combined RC and diamond drilling at Ricciardo and M1. Results from the majority of the diamond program remain pending.

Warriedar plans to continue exploration along the 'Golden Corridor' trend, which is the company's key exploration focus for 2024. The potential for MRE growth at Ricciardo and other deposits along this trend remains a primary objective.

Commodity Outlook:

While not specifically addressed in the announcement, gold continues to be a sought-after commodity. The Murchison region of Western Australia is a well-established gold mining district with favorable infrastructure and regulatory environment for resource development.

Conclusion:

The initial results from Warriedar's diamond drilling program at Ricciardo demonstrate significant potential to expand and upgrade the current resource. With high-grade intercepts and extensions to known mineralization, the project shows promise for future growth. As drilling continues and more results become available, Ricciardo and the broader Golden Range Project may emerge as a significant gold development opportunity in Western Australia.

Sources:

WA8 Drill Results Announcement

Additional Figures:

Australia

ASX

Lithium

Nov 12, 2024