HIGHLIGHTS:
- Up to date Mineral Useful resource Estimate (MRE) for the Ricciardo Deposit (a part of the broader Golden Vary Challenge) of 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold.
- Represents a 99% enhance in Ricciardo MRE contained gold ounces.
- Confirmed high-returning exploration with the elevated Ricciardo MRE ounces delivered at a sexy all-in discovery value of solely approx. A$16/oz.
- Excessive-quality useful resource additions given drilling give attention to high-grade progress 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 large open at depth and alongside strike.
- Complete Golden Vary Challenge Mineral Sources now stand at over 1.28 Moz gold, a 58% enhance from the earlier stage.
- This preliminary final result validates the wonderful potential for additional progress throughout the broader 25km ‘Golden Hall’ by way of the continuing, easy technique of concentrating on contemporary rock extensions below shallow present pits.
- RC drilling on the southern finish of the ‘Golden Hall’ concentrating on high-grade Useful resource progress is progressing effectively; 9 holes accomplished for 1,472 metres to this point, assays pending.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“That is the end result we now have been working in direction of all yr. With lower than 15,000m of focused, environment friendly drilling we now have 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 straightforward technique of drilling beneath shallow open pits to search out mineable ounces labored exceptionally effectively for our producing neighbours. The validity of this technique is now past doubt, for us.
Not solely is the Ricciardo system nonetheless large open down-plunge, however your entire 25km lengthy ‘Golden Hall’ affords related potential upside from such a comparatively easy drilling focus.
In the course of the infrastructure-rich southern Murchison, and situated on present Mining Leases, the chance in entrance of us is completely irresistible.”
The Ricciardo Deposit
The Ricciardo Gold Deposit is situated 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, throughout the Golden Vary group of historic open pit mines and deposits.
Found within the 1990’s, open pit mining of the oxide assets 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 situated 90km north of Capricorn Metals’ Mt Gibson Gold Challenge, 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 situation of the Ricciardo gold deposit throughout the Golden Vary Challenge; throughout the broader Southern Murchison area.
The Ricciardo gold system spans a strike size of roughly 2.3km, with very restricted drilling having been undertaken beneath 100m depth previous to Warriedar drilling. Historic mining operations at Ricciardo had been primarily targeted on oxide materials, with the transition and first sulphides mineralisation not systematically explored.
Warriedar’s drilling of Ricciardo throughout CY2024 achieved glorious 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, operating 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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