Gold and copper explorer Warriedar Resources (ASX:WA8) is eyeing an updated Mineral Resource Estimate (MRE) for the Rothschild deposit within its Fields Find Project in Western Australia in Q1 2024.
Ahead of the MRE update, the $31.59 million market capitalisation company is looking to begin the next phase of exploration at the Fields Find West deposit, which is part of the company’s broader Golden Range and Fields Find projects.
Warriedar says this next phase of exploration and drilling will test a further 4-7 prospective areas covering base metal and gold targets at Fields Find West.
Warriedar reports a drill rig is also scheduled to return to the Rothschild gold deposit on the eastern side of the project to target further extensions of the Main Lode at depth and along strike, as well as to test the potential for northern and southern lodes.
The company hopes to establish an updated resource for Rothschild at the start of 2024, with geological and exploration consultancy Mining Associates undertaking the updated MRE.
Warriedar notes that this new phase of exploration follows the completion of phase one drilling of base metal and gold targets at Fields Find West, which comprised 17 reverse circulation (RC) holes for 4,672m.
Assays from this phase one exploration are expected in 4-6 weeks.
Warriedar Resources is a gold and copper explorer with an existing resource base of almost 2 million ounces (Moz) of gold across Western Australia and Nevada, US, as well as a ‘robust’ pipeline of drill targets.
The company’s Golden Range and Fields Find projects are situated in the middle of the ‘highly active’ Murchison exploration and mining province, which is host to ‘substantial’ deposits of both gold and base metals.
Warriedar Resources had $5.701 million cash and cash equivalents at hand as of 30 June 2023, although the company secured an additional $5.5 million through a placement in September to accelerate exploration and resource growth.
Write to Adam Drought at Mining.com.au
Images: Warriedar Resources
