Investing

First Diamond Drilling Results at Ricciardo Deliver High-Grade Gold Extensions

Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to provide an update on drilling progress and release the first results from diamond drilling undertaken at the Ricciardo deposit within its Golden Range Project, located in the Murchison region of Western Australia (Figure 1).

HIGHLIGHTS:

  • Next phase of drilling activities progressing strongly at Ricciardo and M1.
  • Approximately 5,030m RC (29 holes) and 1,420m diamond drilling (16 holes) completed to date.
  • The first diamond drilling undertaken at the 2.3km long Ricciardo deposit by any operator in ten years.
  • Assay results returned for the first four (4) diamond tails (255m) of the program at Ricciardo have seen all holes intersect significant gold intervals, including:
    • 19m @ 4.94 g/t Au from 188m (RDRC039 DD) * includes contiguous final RC result of 4m @ 14.49 g/t from 188m
    • 12m @ 6.98 g/t Au from 110m (RDRC040 DD) inc. 3m @ 22.12 g/t Au from 112m
    • 16m @ 2.30 g/t Au from 243m (RDRC055 DD) inc. 6m @ 3.13 g/t Au from 252m
    • 17m @ 2.38 g/t Au from 264m (RDRC055 DD) inc. 8m @ 4.03 g/t Au from 273m
  • Delivers further high-grade extensional success to existing Mineral Resource Estimate (MRE) model below the Silverstone North pit (Holes 40, 55) and infill confidence to MRE below northern end of the Ardmore pit (Hole 39).
  • These outcomes build on the growth in high-grade deposit margins delivered at Ricciardo from the significant RC program executed earlier this year.
  • Ricciardo sits in the middle of the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.
  • The ‘Golden Corridor’ is Warriedar’s key exploration focus in 2024.

This is the first diamond drill program at Ricciardo since 2014, when just three (3) diamond holes were drilled by the previous operator.

The results reported in this release are for four (4) (255m) of the 16 (1420m) diamond holes drilled to date. Approximately 2,200m of diamond drilling is planned as part of the current phase of combined RC and diamond drilling at Ricciardo and M1.

The results from these initial four diamond holes extend the high-grade shoot below the Silverstone North pit and infill a previous gap in the high-grade zone of the MRE below the northern part of the Ardmore pit (adding confidence and continuity to the MRE in this area).

These outcomes, while stemming from only a small part of the overall current phase of drilling, continues to demonstrate the outstanding MRE growth potential that exists at Ricciardo and along the broader ‘Golden Corridor’ trend.

The Ricciardo gold system (within the Golden Range Project) spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. Ricciardo possesses a current Mineral Resource Estimate (MRE) of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1 The oxide material at Ricciardo has been mined by previous operators.

Click here for the full ASX Release

This post appeared first on investingnews.com

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