Warriedar Assets Restricted (ASX: WA8) (Warriedar or the Firm) is happy to report on an up to date MRE for its flagship Ricciardo Gold Deposit, a part of the broader Golden Vary Mission positioned within the Murchison area of Western Australia.
HIGHLIGHTS:
- Up to date Mineral Useful resource Estimate (MRE) for the Ricciardo Deposit (a part of the broader Golden Vary Mission) of 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold.
- Represents a 99% improve in Ricciardo MRE contained gold ounces.
- Confirmed high-returning exploration with the elevated Ricciardo MRE ounces delivered at a sexy all-in discovery price of solely approx. A$16/oz.
- Excessive-quality useful resource additions given drilling concentrate on high-grade development ounces with robust business potential.
- The up to date Ricciardo MRE includes:
- 467.5 koz @ 1.6 g/t Au open-pit gold Useful resource (75% M&I) (optimised pit shell constrained at A$3,300/oz)
- 480.0 koz @ 2.0 g/t Au underground gold Useful resource
- Critically, the Ricciardo system stays huge open at depth and alongside strike.
- Complete Golden Vary Mission Mineral Assets now stand at over 1.28 Moz gold, a 58% improve from the earlier degree.
- This preliminary consequence validates the superb potential for additional development inside the broader 25km ‘Golden Hall’ through the continued, easy technique of focusing on contemporary rock extensions below shallow present pits.
- RC drilling on the southern finish of the ‘Golden Hall’ focusing on high-grade Useful resource development is progressing nicely; 9 holes accomplished for 1,472 metres thus far, assays pending.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“That is the consequence we have now been working in the direction of all 12 months. With lower than 15,000m of focused, environment friendly drilling we have now added over 470 koz to the Ricciardo deposit, doubling the Useful resource.
We’re excited by each the end result itself, and the outlook that it delivers us for the broader hall of gold deposits. The easy technique of drilling under shallow open pits to seek out mineable ounces labored exceptionally nicely for our producing neighbours. The validity of this technique is now past doubt, for us.
Not solely is the Ricciardo system nonetheless huge open down-plunge, however your complete 25km lengthy ‘Golden Hall’ provides comparable potential upside from such a comparatively easy drilling focus.
In the midst of the infrastructure-rich southern Murchison, and positioned on present Mining Leases, the chance in entrance of us is completely irresistible.”
The Ricciardo Deposit
The Ricciardo Gold Deposit is positioned on present mining leases 100% owned by WA8, within the Murchison Area, roughly 300 km east of Geraldton, and 420 km by highway north-northeast of Perth. Sitting roughly 8km South of the Golden Vary Mill on M59/421, and M59/458, inside the Golden Vary group of historic open pit mines and deposits.
Found within the 1990’s, open pit mining of the oxide sources commenced in 2001, and the plant entered Care & Upkeep twice (between July 2004 and 2009, and Could 2010 to mid- 2013). Manufacturing was over 300 Koz earlier than lastly going into ongoing Care and Upkeep in August 2019.
The Ricciardo deposit is positioned 90km north of Capricorn Metals’ Mt Gibson Gold Mission, 8kms south of the Firm’s plant, 26km from the neighbouring Golden Grove processing facility and 40 km northeast of Vault Minerals’ excessive grade Rothsay gold mine (Determine 1).
Determine 1: The placement of the Ricciardo gold deposit inside the Golden Vary Mission; inside the broader Southern Murchison area.
The Ricciardo gold system spans a strike size of roughly 2.3km, with very restricted drilling having been undertaken under 100m depth previous to Warriedar drilling. Historic mining operations at Ricciardo had been primarily centered on oxide materials, with the transition and first sulphides mineralisation not systematically explored.
Warriedar’s drilling of Ricciardo throughout CY2024 achieved wonderful outcomes, demonstrating high- grade extensions to the useful resource. The outcomes demonstrated that the beforehand quantified useful resource is a part of a a lot bigger system.
Warriedar engaged impartial mining consultants, Measured Group to replace the Ricciardo MRE, beforehand reported 476Koz gold.1
The Ricciardo Gold Deposit consists of six semi-continuous historic open pit mines alongside the two.3 km arcuate stretch of the Mougooderra Shear Zone, working north to south. These mines are named (from north to south) Silverstone North, Ardmore, Copse, Silverstone, Silverstone South, and Japanese Creek (Determine 2).
Determine 2: Drilling carried out by the Firm throughout 2023 & 2024, which was used to replace the MRE.
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