Mar 18, 2024

Warriedar Resources Hits 32m @ 3.59 g/t Au at Ricciardo, Golden Range Project, Western Australia

Introduction:

Warriedar Resources Limited (ASX: WA8) has reported significant gold intercepts from extension drilling at its Ricciardo deposit within the Golden Range Project in Western Australia's Murchison region, highlighted by 32m at 3.59 g/t Au from 148m. The results demonstrate potential to expand the current Mineral Resource estimate and support further discoveries below historical open pits.

Drill Results:

32m @ 3.59 g/t Au from 148m (including 1m @ 10.85 g/t Au from 151m) (RDRC019)
11m @ 3.43 g/t Au from 149m (RDRC031)
14m @ 1.15 g/t Au from 114m (RDRC022)
3m @ 5.61 g/t Au from 114m (including 1m @ 11.20 g/t Au from 114m) (RDRC025)‍
10m @ 1.63 g/t Au from 156m (RDRC027)

Project Overview:

The Golden Range Project is located in the prolific Murchison region of Western Australia. The Ricciardo deposit has a strike length of 2.3km and hosts a current Mineral Resource estimate of 8.7 Mt @ 1.7 g/t Au for 476 koz gold. The project benefits from existing infrastructure and historical mining operations.

Ricciardo is part of the 25km long Golden Corridor, which contains six discrete deposits all open at depth. The deposit's location within this prospective trend provides significant exploration upside potential.

Program Details:

The current drilling program comprised 21 holes for 3,500m, targeting extensions to the Ricciardo Mineral Resource boundaries at depth and along strike. The results reported today come from 13 RC holes drilled at the Ricciardo deposit. Results have identified two new high-grade shoots beneath historical open pits at Silverstone and Silverstone South. Drilling has demonstrated extensions of high-grade gold mineralization under the Ricciardo deposit at shallow depths between 150-200m.

Understanding These Results:

The reported intersections represent significant extensions beyond the current resource envelope, particularly below the historical open pits. The high-grade shoots identified at Silverstone and Silverstone South demonstrate potential for additional discoveries at depth.

The wide, high-grade intersection of 32m @ 3.59 g/t Au from 148m in RDRC019 is particularly significant, highlighting the robust nature of the mineralizing system. The consistent orientation of high-grade shoots across multiple areas provides confidence in the geological interpretation and targeting strategy.

Management Commentary:

Amanda Buckingham, Warriedar Managing Director and CEO, stated:

“We are very pleased with the results from this first batch of assays from the growth-focussed 2024 drilling program at Ricciardo. The results demonstrate the excellent potential to expand the Mineral Resource at Ricciardo, which has a strike length of 2.3km with high-grade gold mineralisation occurring at numerous locations along the trend."

"With further assays pending, and follow-up drilling planned to commence from next quarter, we are excited as to what our exploration activities at Ricciardo can deliver for Warriedar this year.”

Next Steps & Catalysts:

Assays from a further nine RC holes are pending, with results anticipated in the next four weeks. The Ricciardo deposit remains open along strike and at depth, with further growth-focused drilling planned from Q2 CY2024.

Follow-up extensional drilling, including diamond drilling, is planned to target further extension of the existing Ricciardo Mineral Resources and additional discoveries. Ricciardo and the Golden Corridor will be the key focus of Warriedar's exploration efforts in 2024.

Commodity Outlook:

Gold continues to be a sought-after commodity, with its safe-haven status supporting record high prices this year. 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 Ricciardo demonstrate significant potential to expand the current resource base and support further discoveries below historical open pits. With mineralization remaining open at depth and along strike, and multiple high-grade shoots identified, the project continues to demonstrate characteristics of a substantial gold system with strong growth potential.

Sources:

WA8 Drill Results Announcement

Additional Figures:

Information

November 12, 2024