Warriedar Resources Delivers 99% Ricciardo MRE Increase

THE DRILL SERGEANT: Warriedar Resources (ASX: WA8) reported an updated Mineral resource Estimate (MRE) for the Ricciardo gold deposit, part of the company’s Golden Range project in the Murchison region of Western Australia.

Warriedar Resources updated MRE for the Ricciardo deposit has come in at 16.44 million tonnes at 1.8 grams per tonne gold for 947,000 ounces of gold.

The new figure represents a 99 per cent increase in Ricciardo MRE contained gold ounces.

The updated Ricciardo MRE comprises 467,500 ounces at 1.6g/t gold open-pit gold Resource (75% Measured and Indicated); and 480,000 ounces at 2g/t gold underground gold Resource.

Warriedar noted the Ricciardo system remains wide open at depth and along strike.

Total Mineral Resources for the Golden Range project now stand at over 1.28 million ounces gold, a 58 per cent increase from the previous level.

“This is the result we have been working towards all year,” Warriedar Resources managing director and CEO Amanda Buckingham said in the company’s ASX announcement.

“With less than 15,000m of targeted, efficient drilling we have added over 470,000 ounces to the Ricciardo deposit, doubling the Resource.

“We are excited by both the outcome itself, and the outlook that it delivers us for the wider corridor of gold deposits.

“The simple strategy of drilling below shallow open pits to find mineable ounces worked exceptionally well for our producing neighbours.

“The validity of this strategy is now beyond doubt, for us.

“Not only is the Ricciardo system still wide open down-plunge, but the entire 25km long ‘Golden Corridor’ offers similar potential upside from such a relatively simple drilling focus.

“In the middle of the infrastructure-rich southern Murchison, and located on existing Mining Leases, the opportunity in front of us is utterly irresistible.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE