Jul 12, 2023

Warriedar Resources Hits 18m @ 2.43 g/t Au at Rothschild Deposit, Fields Find Project, Western Australia

Introduction:

Warriedar Resources Limited (ASX: WA8) has reported notable gold intercepts from extension drilling at its Rothschild deposit within the Fields Find Project in Western Australia's Murchison province, highlighted by 18m at 2.43 g/t Au from 191m. The results demonstrate a much larger Main Lode and substantial potential for multi-lode growth.

Drill Results:

18m @ 2.43 g/t Au from 191m (including 1m @ 7.00 g/t Au) (BRRC083)
15m @ 2.16 g/t Au from 180m (including 1m @ 15.30 g/t Au) (BRRC100)
6m @ 4.84 g/t Au from 161m (including 2m @ 11.88 g/t Au) (BRRC104)
12m @ 6.96 g/t Au from 77m (including 3m @ 10.50 g/t Au) (CPRC36, previous explorer)‍
14m @ 5.31 g/t Au from 97m (including 2m @ 26.73 g/t Au) (BRRC051, previous explorer)

Project Overview:

The Rothschild deposit is located within the Fields Find Project in the Murchison province of Western Australia. It is situated on a granted Mining Lease, providing a platform for potential rapid advancement and development. The deposit is surrounded by well-established mining operations in a major mining jurisdiction.

Drilling has now defined the Main Lode over a strike length of 500m and has extended the mineralization to a depth of ~230m below the surface, which represents an additional 150m depth extent from previous delineation. The mineralization remains open at depth and to the east.

Program Details:

The initial 2023 drilling program at Rothschild comprised 47 RC holes for 7,529m. The program successfully achieved its aims of extending mineralization at depth and along strike and testing for parallel lodes. Drilling has confirmed the presence of a new southern parallel lode that significantly expands the overall system's scale and potential. Additionally, drilling has successfully intersected gold mineralization on the western side of the Dynasty fault and at the NW extension, delivering robust targets for follow-up drilling.

Understanding These Results:

The results indicate that the Rothschild deposit is much larger than previously defined in terms of strike and depth extent. The Main Lode appears to widen at depth, with a high-grade core continuing with depth. The grade appears to be increasing with depth, and the deposit thickening with depth, particularly at the western end.

The discovery of the Southern Lode and mineralization on the western side of the Dynasty fault significantly expands the potential of the overall system. The NW extension also shows promising results, providing several key areas for targeted follow-up drilling.

Management Commentary:

No direct quotes provided in the announcement.

Next Steps & Catalysts:

Given the successful outcomes of the initial Rothschild program, Warriedar is prioritizing further drilling on the Rothschild Mining Lease during the current quarter. Key objectives include better defining the Main Lode and exploring its further depth extent, as well as drilling into all parallel and satellite lodes to determine the true scale of the Rothschild opportunity.

Warriedar intends to update the existing JORC Mineral Resource Estimate for Rothschild in Q4 2023.

Commodity Outlook:

Gold continues to be a sought-after commodity, with its safe-haven status supporting record high prices. The Murchison region of Western Australia is a well-established gold mining district with excellent infrastructure and a supportive regulatory environment for resource development.

Conclusion:

The latest results from Rothschild demonstrate significant potential to expand the current resource base and support a larger overall system. With mineralization remaining open at depth and multiple targets still to be tested, the project continues to demonstrate characteristics of a gold system with considerable growth potential.

Sources:

WA8 Drill Results Announcement

Additional Figures:

Information

November 12, 2024