Warriedar Resources (ASX:WA8) is planning a new bout of gold exploration drilling at its Ricciardo deposit within its Golden Range Project in Western Australia for the June quarter of 2023.
The planned work follows the latest results from a reverse circulation (RC) drilling program completed by Warriedar at the deposit in November 2023.
Warriedar, which has a $21.31 million market capitalisation, says the ‘excellent’ results confirm the continuation of the mineralised system in the area and increase the company’s confidence in high-grade historical results from previous explorers.
The top hits from the 3 RC holes drilled include 20m @ 4.78 grams per tonne (g/t) gold from 148m, 20m @ 1.03g/t Au from 177m, and 6m @ 4.69g/t Au from 142m.
Warriedar says the system remains open along-strike and at depth, and, as such, these hits provide a platform for follow-up drilling to ‘significantly’ increase the resource at Ricciardo, which currently sits at 476,000 ounces.
Meanwhile, the company is busy completing a benchtop metallurgical study on Ricciardo, with results from this work expected before the end of March.
Warriedar Managing Director and CEO Amanda Buckingham says these new results confirm that Ricciardo is a ‘high-quality’ deposit that offers an ‘attractive combination’ of existing scale, strong grades, and growth potential.
“The Ricciardo project area has not been uniformly drilled below a depth of 100m.
Today’s results help to confirm the continuation of high-grade shoots that potentially extend at depth. The Ricciardo area is set to be a key focus area for us this year.”
“Today’s results help to confirm the continuation of high-grade shoots that potentially extend at depth”
Warriedar’s wider Golden Range Project hosts a gold resource of around 950,000 ounces of gold, spread along a central shear corridor. It’s home to an existing 800,000-tonne-per-annum processing plant and associated infrastructure, and Warriedar kicked off an ‘aggressive’ drilling program for the project in 2023.
Warriedar Resources had around $3.2 million in cash at hand on 31 December 2023, according to its latest quarterly report.
Write to Joshua Smith at Mining.com.au
Images: Warriedar Resources
