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Gold Companies Make Tasty Treats

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THE CONFERENCE CALLER: With the cannibalistic nature of Western Australian gold companies on show as they gobble up their contemporaries, watching them consider what could be next on the menu is fascinating.

Nobody loves gold more than those who explore, mine and produce it.

That love runs deep and was clearly on display at the Diggers & Dealers Mining Forum in Kalgoorlie this week.

On Day One of the conference attendees were treated to a public display of affection (PDA) by Ramelius Resources (ASX: RMS) director Mark Zeptner and recently appointed non-executive director and deputy chair Simon Lawson following Ramelius’ acquisition of Spartan Resources, of which Lawson was executive chairman.

The two men have enjoyed an antagonistic yet friendly rivalry over the journey, however, there was plenty of bonhomie on show for the punters in the auditorium of the Kalgoorlie Arts Centre.

“There’s lots of similarities in terms of structure,” Lawson said while indicating how the multiple Ramelius deposits in the Mt Magnet area, including the high-grade Break of Day deposit offer a healthy amount of exploration potential.

Ramelius may have snared what many market watchers consider being the biggest golden goose flying around, but this has not stopped others in the sector looking over their back fences for growth opportunities.

Capricorn Metals (ASX: CMM) is one that comes to mind.

Capricorn chief development officer Shane Clark informed the conference’s Day Two audience of that company’s recent acquisitional activities that he asserted would result in the company becoming a gold producer of some note.

The company’s Karlawinda gold project boasts a 1.4 million ounces of gold reserve, from which it has produced in four years since commencement 468,000 ounces of gold at All In Sustaining Costs of $1,311 per ounce raking in $622 million.

The mine is currently being expanded to be able to produce 150,000 ounces per annum.

The Mt Gibson gold project in the Mid-West region of WA was acquired in July 2021 and is a development project Clark described the company’s jewel in the crown.

Capricorn made the crown heavier by recently announcing its intentions to acquire Warriedar Resources (ASX: WA8), owner of the Golden Range Project (GRP), including the Ricciardo gold-antimony deposit and the Fields Find gold project.

“We believe Capricorn acquiring Warriedar is a strategic and logical consolidation of Western Australian south Murchison gold projects,” Clark told delegates.

Clark said the deal provided Capricorn with exposure to the Golden Range project’s value, “plus further derisking future funding and development requirements.”

“Capricorn has the operational experience and expertise to integrate the Golden Range project into the Mt Gibson Hub,” he continued.

He said the company aims to, “Develop an enhanced project to maximise value for all stakeholders.”

At a media presser following Zeptner’s and Lawson’s Day One presentation, the former admitted Ramelius could now very well be a potential takeover target for predators due mainly to the scenario of Mt Magnet becoming a long-life, 350,000 ounces per annum producer and the company’s stated ambition to become a 500,000 ounces per annum producer by 2030.

Capricorn is cashed up and has demonstrated a bent for Murchison acquisitions. Could Mt Magnet complement Mt Gibson? A meal of Ramelius with lima beans and a nice chianti sounds nice.

 

 

Warriedar Resources $17M Placement to Fast Track Resource Growth at Ricciardo

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THE BOURSE WHISPERER: Warriedar Resources (ASX: WA8) is set to bank $17 million after receiving firm commitments for a placement to institutional and sophisticated investors.

Warriedar Resources explained the funds will be directed towards accelerating drilling and advancement of the Ricciardo deposit at the company’s Golden Range project in Western Australia.

Warriedar has a growth-focussed drilling program using two drill rigs currently in progress at the Golden Range project, with antimony-dedicated RC drilling set to commence next month utilising a third rig.

“We are excited to be launching the fast-tracking of our core gold-antimony asset, the Ricciardo deposit at Golden Range,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“Earlier this month we delivered a maiden antimony resource at Ricciardo of over 60,000 tonnes contained antimony.

“This included Australia’s largest open-pit antimony resource of 57,000 tonnes contained antimony.

“When this is coupled with a rapidly growing existing gold resource of over one million ounces gold, it is clear why we believe Ricciardo now deserves a dedicated program to accelerate its expansion and better define its pathway to potential development and monetisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Warriedar Resources Achieves High Gold Recoveries at Windinne Well

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) has been busy at the company’s Golden Range Project located in the Murchison region of Western Australia.

Warriedar Resources recently conducted metallurgical testwork in the form of bottle roll leach tests on recent Reverse Circulation (RC) drilling samples taken from the project’s Windinne Well gold deposit.

The company had the test carried out on five primary gold samples (fresh rock) extracted from the Windinne Well deposit.

The results demonstrated Windinne Well primary gold mineralisation to be free milling with excellent recoveries producing an average gold recovery of 98.2 per cent, with the best result up to 99.8 per cent.

Last year, Warriedar commenced evaluating other deposits within the Golden Corridor aside from its main focus of the Ricciardo deposit.

 

Amanda Buckingham spoke with The Resources Roadhouse at the recent RIU Explorers Conference.

 

This resulted in identification of Mineral Resource growth potential from several deposits, including M1 and Windinne Well, Azure Coast and Bugeye.

This potential is set to be a key focus of Warriedar’s growth-focussed drilling at the Golden Range project during 2025.

“Warriedar’s main focus is growing its fresh rock gold resources at Golden Range, via both extension of existing deposits and targeted new discoveries along the shear,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“At almost one million ounces and growing, Ricciardo is our flagship deposit in this regard.

“However, we also hold other deposits within the ‘Golden Corridor’ that, by virtue of their possible free milling nature, possess the potential for more rapid, capital-lite commercialisation.

“Following our drilling and successful extension of it during 2023, and with an existing high-grade resource approaching 100,000 ounces (at 2.9 g/t Au) and further growth potential, Windinne Well is at the forefront of this complementary focus.

“We have recommenced drilling at Windinne Well, and we are excited to advance our evaluation of its potential for early mining and monetisation.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Warriedar Resources (ASX: WA8) managing director Amanda Buckingham at RIU Explorers Conference

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THE CONFERENCE CALLER: Warriedar Resources (ASX: WA8) managing director Amanda Buckingham talks up the company’s ambitions of repeating its 2024 exploration achievements to Wally Graham of The Resources Roadhouse at the 2025 RIU Explorers Conference.

Companies Presenting at 2025 RIU Explorers Conference Already Have News to Report

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THE CONFERENCE CALLER: Companies presenting at the upcoming 2025 RIU Explorers Conference have been busy in the lead up to the event.

Here’s a brief sample of what has been happening across the sector thus far this year.

 

 

 

Coda Minerals to Commence High-Impact Drilling at Elizabeth Creek

Coda Minerals (ASX: COD) is on the march in readiness for a high-impact exploration drilling program at the company’s 100 per cent-owned Elizabeth Creek copper-cobalt project (ECCCP) in South Australia.

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Dreadnought Resources Consolidates Mangaroon Tenement Holdings

Dreadnought Resources (ASX: DRE) continues to expand its Mangaroon project in Western Australia.

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Spartan Resources Kicks Off NY with Major Dalgaranga Drilling Program

Spartan Resources (ASX: SPR) has kicked off 2025 in style with a raft of activity at the company’s 100 per cent-owned Dalgaranga gold project (DGP), located in the Murchison region of Western Australia.

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Caspin Resources to Commence Bygoo Tin Project Drilling

THE DRILL SERGEANT: Caspin Resources (ASX: CPN) is set to commence its first drilling campaign at the company’s recently acquired, 100 per cent-owned Bygoo tin project in New South Wales.

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Galan Lithium Increases Candelas Mineral Resources

Galan Lithium (ASX: GLN) announced a material increase in the JORC (2012) Mineral Resource Estimate (MRE) for the company’s 100 per cent-owned Candelas project in the Catamarca Province of Argentina.

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New World Resources Identifies Gold-Rich Alteration Zone at Antler Deposit

New World Resources (ASX: NWC) reported identifying additional gold mineralisation at the y’s Antler Copper project in Arizona, USA.

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Warriedar Resources Drills High-Grade Gold Across Multiple Shears

Warriedar Resources (ASX: WA8) has identified a new gold zone within the company’s Golden Range project in Western Australia.

READ MORE:

 

Warriedar Resources Makes New High-Grade Antimony Discovery

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) declared a new antimony discovery from recent RC drilling undertaken at the company’s Golden Range project, located in the Murchison region of Western Australia.

Warriedar Resources has had some drilling wins this year along the ‘Golden Corridor’ located within the Golden Range project, within which is the Ricciardo deposit with a Mineral Resource Estimate (MRE) hosting 948,000 ounces gold.

Lifting its eyes from Ricciardo, Warriedar’ final RC drilling campaign for 2024 focussed on scout drilling at Azure Coast a group of historical pits located approximately 4 km south of Ricciardo and extending across a slightly longer strike length of approx. 2.6 km.

Drillhole AZRC003 was fast tracked to the lab after high antimony pXRF readings and visible stibnite were recorded.

Assays returned high-grade antimony including:

8 metres at 2.17 per cent antimony from 106m
2m at 1.92 per cent antimony from 122m.

“The discovery of high-grade antimony mineralisation approximately 4km south of Ricciardo substantially enhances the prospectivity of the broader ‘Golden Corridor’ for this critical metal, along with the entire shear of the broader Golden Range Project,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“This outcome also follows the highly encouraging initial antimony metallurgical testwork results for Ricciardo that we released last week.

“While we are excited about this emerging opportunity, I want to emphasise again that pursuit of this opportunity will be in parallel with our growth-focussed gold drilling at Golden Range, which remains our current core focus.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

Warriedar Resources Claims High-Grade Antimony Discovery

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THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) has added antimony to its exploration aspirations on the back of recent assay results received from the company’s Golden Range project in the Murchison region of Western Australia.

Warriedar Resources reported intersections of high-grade antimony from multiple holes below the Golden Range Ardmore pit, including:

RDRC067 above the main zone of high-grade gold mineralisation:

12.7 metres at 4.98 per cent antimony and 0.36 grams per tonne gold (10.92g/t AuEq) from 229.2m, including 1.85m at 28.5 per cent antimony and 0.45g/t gold (60.94 g/t AuEq) from 238.25m.

A wide zone of antimony mineralisation was encountered in hole RDRC001:

34m at 1 per cent antimony and 0.59g/t gold (2.72 g/t AuEq) from 158.8m.

Warriedar declared the newly identified and high-grade antimony zone, along with the broader antimony potential at Ricciardo, demands prompt follow-up and evaluation.

“The results for these holes successfully demonstrate further extensional high-grade gold, and for the first time very high-grade antimony zones below the Ardmore pit area,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“Given the relative absence of assaying for antimony in historical drilling at Golden Range, we are cautiously optimistic on the potential that might exist here.

“Moreover, the apparent zonation in RDRC067 is also highly encouraging for any future antimony development potential.

“I want to emphasise however that pursuit of this opportunity will be in parallel with our growth-focussed gold drilling at Golden Range, which remains our current core focus.”

The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth.

Ricciardo possesses a current MRE of 8.7 million tonnes at 1.7 grams per tonne gold for 476,000 ounces gold.

Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE