Mineral explorer Warriedar Resources (ASX:WA8) is prioritising further drilling at its Rothschild deposit in Western Australia following the ‘highly successful’ outcomes of initial exploration in the area.
The $34.92 million market capitalisation company says the aim of this follow-up drilling is to better define the Main lode in the area and explore its depth further, alongside drilling into all parallel and satellite lodes to determine the true scale of Rothschild.
Warrieder intends to update the existing JORC Mineral Resource Estimate for Rothschild in Q4 2023
Warrieder intends to update the existing JORC Mineral Resource Estimate (MRE) for Rothschild in Q4 2023.
This announcement comes after Warriedar received the remaining assays for 38 reverse circulation (RC) holes drilled at Rothschild. Drilling was conducted as part of Warriedar’s ongoing exploration efforts at its Field Finds Project.
Recent results, combined with assays from the initial 9 holes, confirm the Main lode mineralisation is ‘larger’ than previously delineated and that gold grades are ‘higher’ at the western end of the lode.
Warriedar also notes that drilling has confirmed the existence of a second ‘major’ lode, namely the Southern lode.
The company reports ‘high-grade’ extensional intercepts received from the recent drilling include hole BRRC083 with 18m @ 2.43g/t Au from 191m, including 1m @ 7g/t Au; hole BRRC100 with 15m @ 2.16g/t Au from 180m, including 1m @ 15.30g/t Au; and hole BRRC104 with 6m @ 4.84g/t Au from 161m, including 2m @ 11.88g/t Au.
The Fields Find Project is located to the east of the Golden Range project and contains elevated levels of nickel, copper, and gold.
Warriedar Resources is a gold and copper exploration company with an existing resource base of almost 2 million ounces of gold across Western Australia and Nevada, US.
As of 31 March 2023, the company had $8.5 million cash at hand and no debt, excluding typical trade creditor balances, according to its latest quarterly report published on 21 April 2023.
Write to Aaliyah Rogan at Mining.com.au
Images: Warriedar Resources Ltd
