Warriedar Resources (ASX:WA8) is planning further drilling in the first half of 2024 at its Fields Find Project in the Murchison Region of Western Australia.
The $31.97 million market capitalisation company recently completed a drilling program that confirmed a ‘multiphase’ porphyry intrusive system hosting polymetallic mineralisation of gold, copper, molybdenum, and silver.
Warriedar’s planned 2024 drilling will target the identified ‘highly fertile’ contact between the porphyry and greenstone units and related hydrothermal systems.
Managing Director and Chief Executive Officer (CEO) Amanda Buckingham says the company will return to the target zone uncovered by recent drilling and test the extent of the mineralised system and its potential to deliver a ‘sizeable’ deposit of mineable, economic ounces.
The drilling undertaken at Fields Find intercepted ‘significant’ gold and copper mineralisation, including drillhole MORC005 with 4m @ 5 grams per tonne (g/t) gold (Au) from 92m; and hole FSPRC023 with 8m @ 1.46g/t Au from 24m.
Buckingham says: “The assays from our initial Fields Find West drilling have demonstrated the wider presence of significant gold mineralisation in the shallow porphyry system previously identified at Fields Find.
This is a meaningful development both in terms of our exploration model for this central corridor at Fields Find West and for the overall exploration prospectivity of this area to hold substantial accumulations of gold.”
“The assays from our initial Fields Find West drilling have demonstrated the wider presence of significant gold mineralisation in the shallow porphyry system previously identified at Fields Find”
Recent results, combined with historical drilling, support this multiphase porphyry intrusive model of robust scale potential.
Warriedar notes that drilling and geophysical data confirm the ‘significant’ footprint of the porphyry, which has been uncovered within an area 7km long. The contact of the porphyry and surrounding greenstone units defines a ‘significant’ and prospective exploration corridor.
Warriedar Resources is an advanced gold and copper explorer focused on its projects in Western Australia and Nevada, US.
As of 30 September 2023, the company had $5.3 million cash at hand, according to its quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Warriedar Resources