Apr 17, 2024

Warriedar Resources Hits 8m @ 11.40 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 8m at 11.40 g/t Au from 166m, including 3m at 22.38 g/t Au from 167m.

Drill Results:

8m @ 11.40 g/t Au from 166m (including 3m @ 22.38 g/t Au from 167m) (RDRC041)
8m @ 2.63 g/t Au from 160m (RDRC034)
5m @ 1.86 g/t Au from 179m (RDRC033)‍
2m @ 1.15 g/t Au from 174m (RDRC033)

Project Overview:

The Golden Range Project is located in the Murchison region of Western Australia. The Ricciardo deposit spans a strike length of approximately 2.3km and is part of the 25km-long 'Golden Corridor' which hosts six discrete deposits. The project represents a significant gold exploration opportunity with established infrastructure access and substantial growth potential.

Ricciardo currently has a Mineral Resource Estimate of 8.7 Mt @ 1.7 g/t Au for 476 koz gold. The oxide material at Ricciardo has previously been mined across two separate phases: 2001-04 and 2013-19.

Program Details:

A total of 21 holes have been drilled at Ricciardo during 2024, totalling 3,500m. This drilling was designed to significantly extend the Mineral Resource Estimate boundaries at depth and along strike. The current results are from 6 holes focused on testing extensions beneath the central Silverstone pit. The program has demonstrated that the mineralized system continues at depth and remains open along strike.

Understanding These Results:

The reported intersections represent significant extensions to the known high-grade shoot beneath the historic Silverstone pit. These results have increased the extent of the defined high-grade shoot and intersected gold mineralization along strike of the modelled Mineral Resource Estimate at depth.

The intercepts demonstrate substantial and immediate growth potential for the current Ricciardo Mineral Resource Estimate, having intersected significant gold mineralization outside the modelled limits. The results also provide enhanced understanding of the structural controls on mineralization.

Management Commentary:

Amanda Buckingham, Warriedar Managing Director and CEO, stated:

"This is another very pleasing set of results from our recent drilling at Ricciardo. Combined with the initial results released in March, they readily demonstrate why we have made the Golden Corridor the primary focus of our 2024 exploration activities. At Golden Range we have scale, plus grade, and immediate and substantial resource growth potential. We look forward to receiving the remaining assays, as well as recommencing drilling this quarter."

Next Steps & Catalysts:

Assays from a residual three (3) RC holes beneath the Ardmore pit at Ricciardo are pending, with results anticipated within the next two weeks. The Ricciardo deposit remains open along strike and at depth, with further growth-focused drilling set to commence this quarter.

Follow-up extensional RC drilling at Ricciardo is planned during this quarter, with a diamond drill program also set to be undertaken during H2 CY2024. Additional review of historic core is underway to further understand the structural controls of the high-grade shoots.

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. With mineralization remaining open along strike and at depth, and multiple targets still to be tested, the project continues to demonstrate characteristics of a substantial gold system with considerable growth potential. The Golden Corridor, including Ricciardo, represents Warriedar's key exploration focus for 2024.

Sources:

WA8 Drill Results Announcement

Additional Figures:

Information

November 12, 2024