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Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) provides further assay results from its Golden Range Project, located in the Murchison region of Western Australia. The results reported in this release are for a further 6 of the 27 diamond holes drilled in the current program at Ricciardo (6 holes for 1,102m), as well as 2 diamond tails drilled at M1 and Austin (2 holes for 259m). Results for the first 14 diamond holes of the current program were previously reported (refer WA8 ASX releases dated 3 July 2024, 19 July 2024 and 2 August 2024).
HIGHLIGHTS:
- Assay results received for a further 1,102m of diamond drilling at Ricciardo.
- Extremely high-grade antimony (Sb) intersected in multiple holes below the Ardmore pit, including in RDRC067 above the main zone of high-grade gold mineralisation:
- 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq*) from 229.2m
incl. 1.85m @ 28.50% Sb and 0.45 g/t Au (60.94 g/t AuEq) from 238.25m
- 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq*) from 229.2m
- A wide zone of antimony mineralisation was encountered in hole RDRC001:
- 34m @ 1.0% Sb and 0.59 g/t Au (2.72 g/t AuEq) from 158.80m
- This newly identified and exceptionally high-grade Sb zone, along with the broader antimony potential at Ricciardo, demands prompt follow-up and evaluation.
- Further high-grade gold extension delivered below the Ardmore pit:
- 18m @ 3.41 g/t Au and 0.27% Sb (3.97 g/t AuEq) from 276m (RDRC048B) incl. 4.5m @ 9.90 g/t Au and 0.01% Sb (9.93 g/t AuEq) from 286.5m
- 1m @ 28.31 g/t Au and 2.18% Sb (32.92 g/t AuEq) from 286m (NMRC005)
- 42.6m @ 1.08 g/t Au and 0.05% Sb (1.17 g/t AuEq) from 253.38m (RDRC067)
- ‘Golden Corridor’ diamond drilling now complete, with 31 holes drilled for 3,300m.
- All residual diamond assays expected to be received by late September, with update of the Ricciardo Mineral Resource targeted for Q4 2024.
- Further growth-focussed RC drilling of the ‘Golden Corridor’ scheduled for H2 2024, as well as planned aircore drilling along select parts of the regional shear.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“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.
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.”
* Refer to page 8 of this release for full gold equivalent (AuEq) calculation methodology.
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Key Ricciardo context
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 Mt @ 1.7 g/t Au for 476 koz gold.1 Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Due to the limited number of multi-element assays from historical drill holes at Ricciardo, other mineral potential (outside of gold) has also not been properly evaluated historically.
Figure 2: The ‘Golden Corridor’ within the Golden Range Project. The image on the right is gravity over shaded residual magnetic RTP.
The gold mineralisation at Ricciardo is predominantly hosted with intensified altered and deformed ultramafic units. It is important to note that the newly identified antimony-dominant mineralisation identified in RDRC067 (discussed below) sits above high-grade gold mineralisation in the same area, and may overprint the earlier gold mineralisation in some areas.
High-grade antimony zone discovery below the Ardmore pit
RDRC067 was designed to drill south to north along strike to better understand the structural controls within the Ricciardo deposit and assess the continuity of the ultramafic unit (Figure 3). All previous drill holes (by Warriedar and previous explorers) have been drilled eastward perpendicular to the known mineralised structure. RDRC067 was considered an important hole by the Warriedar technical team in order to confirm there are no additional structural controls and to provide further confidence in the geological model.
Figure 3: Plan view of Ricciardo deposit with current cross section locations annotated. The holes drilled in Q2/Q3 as part of the current program are highlighted in red. Additional holes are also outlined but not presented in below cross sections.
Unexpectedly, RDRC067 intersected significant high-grade antimony mineralisation from 229.2m to 241.9m downhole, returning 12.7m @ 4.98% Sb and 0.36 g/t Au (10.92 g/t AuEq) (Figure 4). Above this high-grade antimony zone, another significant zone was also identified from 183m to 198.1m downhole, returning 15.1m @ 1.42% Sb and 0.42 g/t Au (3.42 g/t AuEq) (Figure 4).
The antimony zones intersected by RDRC067 are interpreted to correlate with a lower grade antimony zone intersected in RDRC038 and RDRC049 (Figure 4). Encouragingly, drillhole RDRC001 returned a wide zone of antimony mineralisation: 34m @ 1.0% Sb and 0.59 g/t Au (2.72 g/t AuEq). Further work is required to determine the geometry and extent of the antimony mineralisation.
RDRC067 concluded at 296.96m downhole depth, within the gold mineralisation domain, as the target depth of the hole had been reached. As RDRC067 is not drilled perpendicular to the Mougooderra Shear, which is the main control of the mineralisation, it is important to note that the intersected thickness does not reflect the true thickness of the mineralisation.
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This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
WA8:AU
Targeted Exploration Focus Delivers an Additional 471koz or 99% Increase in Ounces, and a Higher Grade for Ricciardo
HIGHLIGHTS:
- Updated Mineral Resource Estimate (MRE) for the Ricciardo Deposit (part of the broader Golden Range Project) of 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold.
- Represents a 99% increase in Ricciardo MRE contained gold ounces.
- Proven high-returning exploration with the increased Ricciardo MRE ounces delivered at an attractive all-in discovery cost of only approx. A$16/oz.
- High-quality resource additions given drilling focus on high-grade growth ounces with strong commercial potential.
- The updated Ricciardo MRE comprises:
- 467.5 koz @ 1.6 g/t Au open-pit gold Resource (75% M&I) (optimised pit shell constrained at A$3,300/oz)
- 480.0 koz @ 2.0 g/t Au underground gold Resource
- Critically, the Ricciardo system remains wide open at depth and along strike.
- Total Golden Range Project Mineral Resources now stand at over 1.28 Moz gold, a 58% increase from the previous level.
- This initial outcome validates the excellent potential for further growth within the broader 25km ‘Golden Corridor’ via the ongoing, simple strategy of targeting fresh rock extensions under shallow existing pits.
- RC drilling at the southern end of the ‘Golden Corridor’ targeting high-grade Resource growth is progressing well; 9 holes completed for 1,472 metres to date, assays pending.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“This is the result we have been working towards all year. With less than 15,000m of targeted, efficient drilling we have added over 470 koz 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.”
The Ricciardo Deposit
The Ricciardo Gold Deposit is located on existing mining leases 100% owned by WA8, in the Murchison Region, approximately 300 km east of Geraldton, and 420 km by road north-northeast of Perth. Sitting approximately 8km South of the Golden Range Mill on M59/421, and M59/458, within the Golden Range group of historic open pit mines and deposits.
Discovered in the 1990’s, open pit mining of the oxide resources commenced in 2001, and the plant entered Care & Maintenance twice (between July 2004 and 2009, and May 2010 to mid- 2013). Production was over 300 Koz before finally going into ongoing Care and Maintenance in August 2019.
The Ricciardo deposit is located 90km north of Capricorn Metals’ Mt Gibson Gold Project, 8kms south of the Company’s plant, 26km from the neighbouring Golden Grove processing facility and 40 km northeast of Vault Minerals’ high grade Rothsay gold mine (Figure 1).
Figure 1: The location of the Ricciardo gold deposit within the Golden Range Project; within the broader Southern Murchison region.
The Ricciardo gold system spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth prior to Warriedar drilling. Historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Warriedar’s drilling of Ricciardo during CY2024 achieved excellent results, demonstrating high- grade extensions to the resource. The results demonstrated that the previously quantified resource is part of a much larger system.
Warriedar engaged independent mining consultants, Measured Group to update the Ricciardo MRE, previously reported 476Koz gold.1
The Ricciardo Gold Deposit consists of six semi-continuous historical open pit mines along the 2.3 km arcuate stretch of the Mougooderra Shear Zone, running north to south. These mines are named (from north to south) Silverstone North, Ardmore, Copse, Silverstone, Silverstone South, and Eastern Creek (Figure 2).
Figure 2: Drilling carried out by the Company during 2023 & 2024, which was used to update the MRE.
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This article includes content from Warriedar Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Continued Delivery of High Grade Antimony Mineralisation at Ricciardo
HIGHLIGHTS:
- Review of the antimony (Sb) potential at Ricciardo is complete with drillhole assay data confirming Sb mineralisation of significant thickness and grade exists below both the Ardmore pit (previously identified) and the Copse-Silverstone pits (newly identified), representing a potential combined strike length of approx. 1km.
- Multiple significant Sb intervals have been identified (reviewing both historic and WA8 drill hole assays), in addition to results recently released (* indicated below):
- Most of the Sb mineralisation appears to be located above the main gold zone, a distinct metallurgical positive for future processing and economic potential. Similarly to the gold mineralisation, the Sb zones remain wide open at depth.
- Only 11% of historical drill samples at Ricciardo were assayed for Sb. Retained pulp samples from historical holes are currently being tested with pXRF, with those favourable for significant Sb set to undergo laboratory multi element assay.
- An approx. 100kg high-grade sample of antimony mineralisation from Ricciardo has also been dispatched for scoping-level metallurgical testwork.
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“Following the recent high grade antimony intersections at Ricciardo, our initial review of the broader antimony potential has delivered further promise. An exceptionally high-grade antimony interval, as well as a much wider intersection, are now able to be placed in greater context. This context is a broader volume of antimony, not yet well-defined but with existing drilling showing serious scale and grade potential.
“Importantly, the high-grade antimony appears relatively discrete from higher-grade gold mineralisation, an excellent metallurgical outcome. While it remains early days, we are cautiously optimistic and have commenced initial metallurgical testing for potential processing and antimony recovery.
“While we are excited about this emerging opportunity at Ricciardo, 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.”
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Key Ricciardo context
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 Mineral Resource Estimate (MRE) of 8.7 Mt @ 1.7 g/t Au for 476 koz gold.1
Historical gold mining operations at Ricciardo were primarily focused on the oxide material, with the transition and primary sulphides mineralisation not systematically explored. Antimony was not a focus of previous exploration, with only about 11% of historic drill holes assayed for antimony.
The gold and antimony mineralisation at Ricciardo is predominantly hosted within intensely altered and deformed ultramafic units. The high-grade antimony-dominant mineralisation occurred later than the main gold events and generally sits above the high-grade gold mineralisation.
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This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Further Strong Extensional Diamond Drill Results from Ricciardo
HIGHLIGHTS:
- All residual assay results received from the recent 2,701m (27 holes) diamond drilling program at Ricciardo.
- Drilling underneath the Silverstone pit confirms the identified high-grade shoot continues at depth and at better than previously modelled grades:
- 13.7m @ 3.27 g/t Au and 0.36% Sb (4.04 g/t AuEq) from 253.3m, inc.
1.2m @ 9.00 g/t Au and 0.00% Sb (9.00 g/t AuEq) from 264.85m (RDRC046) - 22.6m @ 2.11 g/t Au and 0.29% Sb (2.71 g/t AuEq) from 294m, inc.
3m @ 7.22 g/t Au and 0.02 % Sb (7.26 g/t AuEq) from 312m (RDRC044)
- 13.7m @ 3.27 g/t Au and 0.36% Sb (4.04 g/t AuEq) from 253.3m, inc.
- Drilling from the Eastern Creek area, located at the southern end of Ricciardo, confirms down dip continuity with increasing grade and width at depth:
- 7.0m @ 2.54 g/t Au and 0.24% Sb (3.05 g/t AuEq) from 170m (RDRC060)
- 25.0m @ 1.23 g/t Au and 0.17% Sb (1.60 g/t AuEq) from 232m, inc.
6.8m @ 2.37 g/t Au and 0.37% Sb (3.16 g/t AuEq) from 250.2m (RDRC059)
- Update of Ricciardo Mineral Resource Estimate (MRE) on track for Q4 2024.
- Aircore drilling program now in progress at the Golden Range Project targeting an underexplored section at the southern end of the 70-km long shear.
- Further growth-focussed Reverse Circulation (RC) drilling of the ‘Golden Corridor’ scheduled to commence in November.
The assays reported in this release are full results for the final 11 diamond holes (1,021m) from the recent 27-hole diamond tail program at Ricciardo. Results for the first 16 holes of this program have previously been reported (refer WA8 ASX releases dated 3 July 2024, 19 July 2024, 2 August 2024 and 26 August 2024).
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“This final set of diamond results from the recent Ricciardo drilling have really put a bow on the whole program for us. The broad-based extensional success delivered by this drilling is both real and exciting. The fact that these results are being delivered at what are still relatively shallow down-dip depths, and in such proximity to excellent surrounding infrastructure, also delivers excellent potential for the economic character of the anticipated resource additions at Ricciardo. It is my firm belief that we are just getting started in terms of the opportunity at Ricciardo, let alone within the larger ‘Golden Corridor’ and along the broader mineralised shear.”
Key Ricciardo context
The Ricciardo gold system is located within Warriedar’s flagship Golden Range Project in the Murchison region of Western Australia (refer Figures 1 and 2).
Ricciardo spans a strike length of approximately 2.3km, with very limited drilling having been undertaken below 100m depth. It possesses a current MRE of 8.7 Mt @ 1.7 g/t Au for 476 koz gold. 1 Importantly, historical mining operations at Ricciardo were primarily focused on oxide material, with the transition and primary sulphides mineralisation not systematically explored.
Figure 1: The Golden Range and Fields Find Projects, with proximate mines, mills and projects.
Figure 2: The ‘Golden Corridor’ within the Golden Range Project. The image on the right is gravity over shaded residualmagnetic RTP.
The most recent phase of RC and diamond drilling of Ricciardo has concluded. This release reports on the assays from the final 11 holes of the diamond program. These holes were predominantly located in the southern part of the Ricciardo deposit, focusing on down-dip extension where no previous drilling had been undertaken (refer Table 1 and Figure 3 for drill collar and relevant section locations).
All 11 holes returned significant intersections, delivering a further round of meaningful extensional success from the recent program (refer Table 2). All results are set to be incorporated into an update of the Ricciardo MRE, which remains on track for completion during Q4 2024.
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This article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Infill Drilling of Ricciardo Deposit Delivers Significant Gold Mineralisation
HIGHLIGHTS:
- Assay results for a further two (2) diamond tails at Ricciardo confirm a 77m wide (not true width) mineralisation zone 180m down-dip of the current Resource beneath the Ardmore pit, including a high-grade shoot.
- Significant gold intervals include:
- 7.2m @ 4.51 g/t Au from 232.8m, incl. 3m @ 9.03 g/t Au from 234m
- 10.5m @ 1.53 g/t Au from 218.8m
- 3.9m @ 3.35 g/t Au from 218.8m
- 23.2m @ 1.60 g/t Au from 270.8m
- Mineralisation in this area is structurally complex, extends to a vertical depth of ~ 460m and remains open.
- Ricciardo sits in the middle of the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six (6) discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.
- Current diamond drilling program (now extended to 3,000m) at Ricciardo and M1 set to be completed in mid-August, with all assays expected by late-September.
- Update of the Ricciardo MRE is targeted for Q4 2024.
- Further growth-focussed drilling of the ‘Golden Corridor’ scheduled for H2 2024.
The results reported in this release are for a further two (2) of the diamond holes drilled in the current program. Results for the first twelve (12) diamond holes of the current program were previously reported (refer WA8 ASX releases dated 3 July 2024 and 19 July 2024).
The results for these two (2) holes again demonstrate wide infill of the broader Ricciardo deposit at depth, further validating the outstanding Mineral Resource Estimate (MRE) growth potential that exists at Ricciardo and along the broader ‘Golden Corridor’ trend (refer Figure 2).
Warriedar Managing Director and CEO, Amanda Buckingham, commented:
“The outcomes of these two diamond tails are significant, given that they represented substantial depth step-outs under the shallow Ardmore pit. A 77m wide mineralised zone (downhole) with a central high-grade shoot (4.51 g/t), 180m below the MRE is a great result. We don’t fully understand the structural geometry here yet, but we are delighted that the deeper part of hole 49 validates the drill results from a previous explorer – confirming the deposit extends to about 460m vertical depth and retains some good grade (3.19 g/t). Excellent progress.
We continue to drill ahead at Ricciardo as part of the current diamond program, with follow-up growth drilling activities in planning for the remainder of H2 2024.”
Figure 1: The Golden Range and Fields Find Projects. Mines and projects within trucking distance of the Warriedar tenure are shown.
Ricciardo deposit
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 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 article includes content from Warriedar Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Prince Silver: Advancing the Large-scale Prince Silver Project in Nevada
Prince Silver (CSE:PRNC,OTC:HWTNF) is a Vancouver-based exploration company advancing the Prince Silver project in southeastern Nevada. In July 2025, the company completed the transformational acquisition of Stampede Metals Corporation and rebranded from Hawthorn Resources to Prince Silver Corp. The flagship Prince project is a district-scale, past-producing silver-gold-zinc-manganese carbonate replacement system, historically mined for silver and base metals in the early to mid-1900s.
Aerial view of the Prince silver projectFully funded and technically refreshed, the company’s near-term priority is to validate and build upon the 129 historic drill holes (over 16,600 m) completed on the property, with the goal of converting the large JORC-compliant exploration target into a maiden NI 43-101 mineral resource.
A drill program is scheduled to begin in early September 2025, targeting the validation of legacy data, step-outs along mineralized trends, and continuity across the deposit’s multiple mantos, veins, and breccia zones. In parallel, the company will undertake metallurgical test work, geophysical refinement, and updated geological modeling to support a modern pit-constrained resource and underpin a longer-term development strategy.
Company Highlights
- Flagship project: 100 percent ownership of the historic Prince silver mine in Lincoln County, Nevada, an open, near-surface silver-gold-zinc carbonate replacement deposit with a 25 to 43 Mt exploration target and strong historic grades.
- The company’s second project, Stampede Gap, is about 15 km north west of the Prince mine. Stampede Gap is a large porphyry copper-gold-molybdenum with an extensive alteration zone that presents a deep seated exploration target.
- Clean corporate reset: Hawthorn Resources completed the Stampede Metals acquisition and re-listed as Prince Silver Corp. on July 11, 2025, issuing 15 million shares for the acquisition and raising ~C$4 million in gross proceeds to fund drilling.
- Fully funded summer drill program: ~6,500-m reverse-circulation set to begin early Sept 2025 to validate historic holes and step out along strike/dip to expand known mineralization and potential resources. .
- Tight share structure: 45.9 million shares outstanding post-financing; Stampede shareholders voluntarily locked-up for 12 months.
- Experienced, hands-on leadership: President Ralph Shearing, plus new directors Robert Wrixon and Darrell Rader, add mine-building, corporate and capital-markets depth to the company’s leadership team.
This Prince Silver profile is part of a paid investor education campaign.*
Click here to connect with Prince Silver (CSE:PRNC) to receive an Investor Presentation
Option to acquire 888km2 Au/Cu project in WA
- The Paterson Project covers 888km2 of granted Exploration tenure, 40km south west of Greatland Gold Plc's (GGP London and ASX) Telfer Gold Copper Mine. Telfer has produced 15Moz of gold and combined with Havieron hosts a total of 10.2Moz Au in resources.
- Drilling last completed in 1987 with multiple significant drilling intercepts including:
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Including 9m @ 2.6% Cu, 456ppm Mo
- 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)
- Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo
- 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)
- Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo
- 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)
- Including 6m @ 2.0% Cu, 0.27g/t Au
- 8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)
- Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Historic exploration looking for copper not gold
- Significant drilling intercepts are shallow and can be targeted using RC drilling
- Multiple geophysical targets identified which are yet to be drill tested
- Targets associated with magnetic lows and gravity highs
- Mobile MT, a technique utilised by industry players and the Telfer Mine in the Paterson Province, to be used over the Paterson Project area
- The Paterson Project also surrounds the Kintyre Uranium Project owned by global major Cameco Corp. Kintyre hosts a total indicated resource of 53.5Mlb U3O8
Tom Evans, Cloudbreak's MD, commented; "I am excited and delighted we have been able to secure exclusivity on this fantastic opportunity to acquire this asset, in a jurisdiction with significant activity and recent proven success. Located only 40km southwest of the Telfer Gold-Copper Mine operated by Greatland Gold Plc.
Technological advances in geophysics since the 80's have improved greatly with the success of Mobile MT in the Paterson Province, we intend to start off with this geophysical survey, to use as another vector and data layer to refine and rank drill targets not only for copper but for gold as well.
I am excited, for the Company and its shareholders, as we progress this great opportunity and I look forward to updating the market as our exploration programs progress."
Location
The Paterson Project (Figure 1) directly surrounds the Kintyre Uranium Deposit and is located 40km south-south-west of Greatland Gold Plc's Telfer Gold-Copper Mine.
Figure 1: Location Plan
Exploration Completed
The Wanderer Prospect (Figure 2 and 3) was drilled between 1987 and 1990 by CRA (at significantly lower prevailing copper and gold prices) as part of its uranium exploration expenditure across its nearby Kintyre Project. The majority of drilling was only drilled to 100m from the surface, with multiple holes logged as ending in mineralisation. No follow‐up drilling has occurred in the 35 years since then. Forty-two drill holes were drilled at the Wanderer Prospect on E45/5358 tenement.
Multiple significant drilling intercepts include:
- 17m @ 1.6% Cu, 317ppm Mo from 84m (87WDRC2)
- Including 9m @ 2.6% Cu, 456ppm Mo
- 9m @ 2.0% Cu, 0.14g/t Au, 272ppm Mo from 84m (87WDRC6)
- Including 5m @3.1% Cu, 0.20g/t Au, 430ppm Mo
- 11m @ 1.5% Cu, 0.10g/t Au, 181ppm Mo from 83m (87WDRC8)
- Including 7m @ 2.1% Cu, 0.15g/t Au, 250ppm Mo
- 13m @ 1.1% Cu, 0.29g/t Au from 107m (87WDRC14)
- Including 6m @ 2.0% Cu, 0.27g/t Au
- 8m @ 0.7% Cu, 310ppm Mo from 98m (87WDRC7)
- Including 1m @ 3.3% Cu, 0.22g/t Au, 560ppm Mo
Figure 2: Wanderer Prospect Drill Section
Figure 3: Wanderer Prospect- Drill Collar Plan and Mineralised Trend
Deal Terms
Cloudbreak has paid a A$20,000 option fee to secure two months exclusive due diligence across the Paterson Project. If Cloudbreak elects to proceed, it can acquire a 90% interest in the project via the issue of 330,000,000 shares to Mammoth Minerals Ltd (ASX:M79, "Mammoth"). Mammoth is to retain a 10% free carried interest in the Project until the completion of a Definitive Feasibility Study with a positive NPV.
Tenure
The Project consists of three granted exploration licences E45/5358, E45/5391 and E45/6244 covering a land area of 888km2.
The ground is contiguous to the west, of the Cottesloe base-metal project held by Wishbone Gold Plc.
Regional Geology
The Paterson Orogen is a 2,000km long arcuate belt of folded and metamorphosed sedimentary and igneous rocks that range in age from predominantly Palaeoproterozoic to Neoproterozoic with limited outcrops of Archaean rocks.
The eastern margin of the Paterson Orogen is masked by younger Proterozoic to Phanerozoic sedimentary rocks (Officer and Canning Basins) with sedimentary units of the late Proterozoic Savory Basin on-lapping to the southwest. The main outcropping stratigraphic packages across the bulk of the Paterson Project are the lowermost member of the Mesoproterozoic to Neoproterozoic Yeneena Group, the Coolbro Sandstone, and the Paleoproterozoic Rudall Metamorphic Complex.
Local Geology
The Paleoproterozoic Rudall Metamorphic Complex hosts the Central Tenements surrounding the Kintyre Uranium deposit. At and around Kintyre, the prospective Yandagooge Formation outcrops within the Yandagooge Inlier, consisting of a "basement high" of Rudall Metamorphic Complex surrounded by Neoproterozoic sandstone and Permian glacial tillite. The basement sequence has undergone a minimum of four deformation episodes and is unconformably overlain by Neoproterozoic sandstone and conglomerate deposits of the Yeneena Basin, which have seen at least one major deformation episode.
The dominant host-rock to mineralisation at Kintyre is a garnet-rich, chert-banded, calc-silicate magnetite schistose rock, sandwiched between carbonates and shales of the Yandagooge Formation. These are amphibolite facies metamorphosed rocks, later retrogressively metamorphosed to greenschist facies during or prior to the principal mineralisation phase. Late in syn-D3 or during D4 uranium-bearing, hydrothermal fluids were introduced into the system, depositing pitchblende within northeast dipping dilational zones developed in the S3 cleavage.
In the Kintyre area, the Yandagooge Inlier is surrounded by Coolbro Sandstone, which comprises a thick quartz sandstone sequence with intercalated carbonaceous mudstone and shale interbeds (Jackson & Andrew, 1990). The Coolbro Sandstone, which represents the basal formation of the low-grade metamorphic Neoproterozoic Yeneena Supergroup, exhibits a strong slaty cleavage and has been isoclinally folded and deformed around NW trending axes.
The Central Tenements around the Kintyre deposit are predominantly covered by outcropping northwest-southeast trending, northerly dipping, and folded Coolbro sandstone. Aeolian sand covers areas in the west-central and southeast portions of the tenement. It is believed that these areas are directly underlain by an inlier of the Yandagooge Formation Rudall Metamorphics (Jackson & Andrew, 1990). Rudall Metamorphics outcrop in the west-central area and near the south-eastern corner of the tenement. The north eastern edge of the tenement has outcropping northwest-southeast trending, northerly dipping, and folded Broadhurst Formation.
Exploration Potential and Prospectivity
The Paterson Province hosts several major copper and gold operations, including the Nifty copper mine and the world-class Telfer gold mine. More recently, several new copper-gold discoveries have been made at Winu (Rio Tinto) and Havieron (Greatland Resources PLC???).
A review of a compilation of available geophysical data reprocessed using modern techniques highlights multiple anomalies, including a large "bullseye" magnetic anomaly at Wanderer Prospect within the Central Tenements. The Wanderer Copper-Gold Prospect, first discovered by CRA in 1987, reveals the presence of significant copper, gold and molybdenum values in a wide zone of iron‐oxide alteration extending across more than 1 km of strike. In addition, geochemical assemblage (Cu-Au-Mo) is potentially indicative of a porphyry intrusion as the source of mineralisation. Several other targets with low-magnetics/high gravity signatures have been identified.
At a regional scale, the Paterson Province has potential for large intrusive-related copper and gold targets undercover, requiring geophysical methods, such as Mobile MT by Expert Geophysics Limited, that has been successfully used in the Paterson Province as means of primary target identification.
A review of geophysical and structural data (Figure 4), has identified several compelling exploration opportunities around the existing Wanderer copper-gold project.
Figure 4: RTP Magnetics Left and Gravity Right, illustrating numerous coincident magnetic low and gravity high targets
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
For additional information please contact:
Cloudbreak Discovery PLC | Peter Huljich, ChairmanTom Evans, Managing Director | Tel: +44 207 887 6139Tel: +44 7851 703440 |
Novum Securities (Financial Adviser) | David Coffman / Anastassiya Eley | Tel: +44 7399 9400 |
About Cloudbreak Discovery PLC
Cloudbreak Discovery PLC is a leading natural resource explorer and project generator. Cloudbreak is focused on mineral exploration and energy opportunities with the aim of bringing near-term cashflow and driving shareholder value.
Through its wholly owned but independently operated subsidiaries, the Company will develop its array of mineral assets, whilst continuing to generate new projects with a particular focus on commodities with high intrinsic value.
Cloudbreak's generative model across the mineral sector enables a multi-asset approach to investing in the commodity cycle.
Competent Persons Statement
The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Mead is a consultant to Cloudbreak Discovery Plc and employed by Doraleda Pty Ltd. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.
Table 1: Significant Assays (>0.3% Cu or 0.3ppm Au)
Hole | From (m) | To (m) | Interval (m) | Cu % | Au | Mo ppm |
87WDRC1 | 25 | 28 | 3 | 0.30% | 0 | 6 |
87WDRC10 | 53 | 54 | 1 | 0.31% | 0.25 | 350 |
87WDRC12 | 111 | 115 | 4 | 0.70% | 0.35 | 18 |
87WDRC13 | 101 | 102 | 1 | 0.34% | 0.07 | 34 |
87WDRC13 | 102 | 103 | 1 | 0.35% | 0.09 | 40 |
87WDRC13 | 105 | 106 | 1 | 1.11% | 0.12 | 18 |
87WDRC13 | 108 | 109 | 1 | 0.45% | 0.04 | 33 |
87WDRC13 | 109 | 110 | 1 | 0.88% | 0.06 | 37 |
87WDRC13 | 110 | 111 | 1 | 0.63% | 0.16 | 43 |
87WDRC13 | 111 | 112 | 1 | 0.83% | 0.09 | 38 |
87WDRC14 | 77 | 78 | 1 | 1.22% | 0.15 | 145 |
87WDRC14 | 107 | 110 | 3 | 0.56% | 0.17 | 74 |
87WDRC14 | 110 | 112 | 2 | 0.25% | 0.65 | 18 |
87WDRC14 | 114 | 115 | 1 | 2.11% | 0.59 | 26 |
87WDRC14 | 115 | 116 | 1 | 1.17% | 0.17 | 29 |
87WDRC14 | 116 | 118 | 2 | 2.68% | 0.28 | 22 |
87WDRC14 | 118 | 120 | 2 | 1.82% | 0.15 | 30 |
87WDRC17 | 0 | 5 | 5 | 0.01% | 0.38 | 21 |
87WDRC2 | 84 | 85 | 1 | 0.53% | 0.02 | 460 |
87WDRC2 | 88 | 89 | 1 | 0.89% | 0.04 | 280 |
87WDRC2 | 89 | 90 | 1 | 1.15% | 0.04 | 1270 |
87WDRC2 | 90 | 91 | 1 | 1.68% | 0.03 | 1000 |
87WDRC2 | 91 | 92 | 1 | 4.00% | 0.09 | 610 |
87WDRC2 | 92 | 93 | 1 | 3.61% | 0.06 | 620 |
87WDRC2 | 93 | 94 | 1 | 6.51% | 0.06 | 220 |
87WDRC2 | 94 | 95 | 1 | 1.20% | 0.01 | 15 |
87WDRC2 | 95 | 97 | 2 | 2.34% | 0.03 | 44 |
87WDRC2 | 97 | 99 | 2 | 0.52% | 0.03 | 40 |
87WDRC2 | 99 | 101 | 2 | 0.32% | 0.01 | 49 |
87WDRC22 | 75 | 80 | 5 | 0.62% | 0.16 | 13 |
87WDRC22 | 80 | 85 | 5 | 0.10% | 0.3 | 9 |
87WDRC24 | 70 | 73 | 3 | 0.33% | 0.04 | 34 |
87WDRC24 | 73 | 77 | 4 | 0.71% | 0.09 | 41 |
87WDRC24 | 77 | 80 | 3 | 0.61% | 0.06 | 30 |
87WDRC26 | 82 | 86 | 4 | 0.68% | 0.09 | 28 |
87WDRC3 | 83 | 84 | 1 | 0.45% | 0.01 | 7 |
87WDRC3 | 85 | 86 | 1 | 0.52% | 0.07 | 140 |
87WDRC3 | 86 | 88 | 2 | 0.42% | 0.03 | 69 |
87WDRC6 | 84 | 85 | 1 | 5.18% | 0.29 | 620 |
87WDRC6 | 85 | 86 | 1 | 2.60% | 0.22 | 720 |
87WDRC6 | 86 | 87 | 1 | 2.56% | 0.21 | 350 |
87WDRC6 | 87 | 88 | 1 | 2.31% | 0.18 | 290 |
87WDRC6 | 88 | 89 | 1 | 3.05% | 0.11 | 169 |
87WDRC6 | 89 | 90 | 1 | 1.01% | 0.1 | 81 |
87WDRC6 | 90 | 91 | 1 | 0.57% | 0.04 | 59 |
87WDRC6 | 91 | 92 | 1 | 0.42% | 0.03 | 42 |
87WDRC6 | 92 | 93 | 1 | 0.72% | 0.04 | 121 |
87WDRC7 | 98 | 103 | 5 | 0.31% | 0.01 | 46 |
87WDRC7 | 103 | 104 | 1 | 3.27% | 0.22 | 560 |
87WDRC7 | 104 | 105 | 1 | 0.71% | 0.08 | 360 |
87WDRC7 | 105 | 106 | 1 | 0.34% | 0.09 | 1330 |
87WDRC8 | 83 | 84 | 1 | 0.88% | 0.11 | 200 |
87WDRC8 | 84 | 85 | 1 | 2.01% | 0.26 | 280 |
87WDRC8 | 85 | 86 | 1 | 2.18% | 0.14 | 178 |
87WDRC8 | 86 | 87 | 1 | 2.02% | 0.15 | 260 |
87WDRC8 | 87 | 88 | 1 | 3.23% | 0.18 | 420 |
87WDRC8 | 88 | 89 | 1 | 2.59% | 0.11 | 210 |
87WDRC8 | 89 | 90 | 1 | 1.81% | 0.08 | 200 |
87WDRC8 | 90 | 92 | 2 | 0.39% | 0.01 | 43 |
87WDRC8 | 92 | 94 | 2 | 0.70% | 0.03 | 77 |
88WDD03 | 89 | 90 | 1 | 0.67% | 0.04 | 53 |
88WDD03 | 90 | 91 | 1 | 0.36% | 0.03 | 40 |
88WDD03 | 190 | 191 | 1 | 0.61% | 0.08 | 78 |
88WDD03 | 191 | 192 | 1 | 0.43% | 0.06 | 87 |
88WDRC27 | 43 | 44 | 1 | 0.19% | 0.99 | 24 |
88WDRC28 | 58 | 62 | 4 | 0.48% | 0 | 11 |
88WDRC36 | 90 | 95 | 5 | 0.32% | 0.02 | 9 |
88WDRC36 | 95 | 100 | 5 | 0.46% | 0.1 | 20 |
Table 2: Collar location and Hole Type
Hole ID | Easting | Northing | RL (m) | Total Depth (m) | Dip | Azimuth | Hole Type |
87WDRC1 | 402140 | 7521450 | 430 | 104 | -60 | 180 | RC |
87WDRC2 | 402180 | 7521450 | 430 | 120 | -60 | 180 | RC |
87WDRC3 | 402220 | 7521450 | 430 | 120 | -60 | 180 | RC |
87WDRC4 | 402200 | 7521410 | 430 | 120 | -60 | 180 | RC |
87WDRC5 | 402170 | 7521410 | 430 | 120 | -60 | 180 | RC |
87WDRC6 | 402160 | 7521450 | 430 | 116 | -60 | 180 | RC |
87WDRC7 | 402180 | 7521470 | 430 | 120 | -60 | 180 | RC |
87WDRC8 | 402200 | 7521450 | 430 | 109 | -60 | 180 | RC |
87WDRC9 | 402260 | 7521450 | 430 | 98 | -60 | 180 | RC |
87WDRC10 | 402060 | 7521460 | 430 | 89 | -60 | 180 | RC |
87WDRC11 | 402030 | 7521480 | 430 | 120 | -60 | 180 | RC |
87WDRC12 | 402010 | 7521440 | 430 | 120 | -60 | 180 | RC |
87WDRC13 | 401250 | 7521520 | 450 | 120 | -90 | 0 | RC |
87WDRC14 | 401250 | 7521480 | 450 | 120 | -90 | 0 | RC |
87WDRC15 | 401210 | 7521520 | 450 | 114 | -90 | 0 | RC |
87WDRC16 | 401250 | 7521560 | 450 | 109 | -90 | 0 | RC |
87WDRC17 | 401290 | 7521520 | 450 | 115 | -90 | 0 | RC |
87WDRC18 | 401330 | 7521490 | 450 | 119 | -90 | 0 | RC |
87WDRC19 | 401170 | 7521600 | 450 | 120 | -90 | 0 | RC |
87WDRC20 | 401210 | 7521560 | 450 | 120 | -90 | 0 | RC |
87WDRC21 | 401250 | 7521440 | 450 | 120 | -90 | 0 | RC |
87WDRC22 | 401642 | 7521465 | 450 | 98 | -60 | 180 | RC |
87WDRC23 | 401658 | 7521465 | 450 | 100 | -60 | 180 | RC |
87WDRC24 | 401675 | 7521465 | 450 | 100 | -60 | 180 | RC |
87WDRC25 | 401700 | 7521465 | 450 | 96 | -60 | 180 | RC |
87WDRC26 | 401662 | 7521493 | 450 | 100 | -60 | 180 | RC |
88WDRC27 | 401245 | 7521605 | 450 | 80 | -60 | 240 | RC |
88WDRC28 | 401280 | 7521600 | 450 | 81 | -60 | 240 | RC |
88WDRC29 | 401220 | 7521690 | 450 | 69 | -60 | 250 | RC |
88WDRC30 | 401140 | 7521760 | 451 | 54 | -60 | 250 | RC |
88WDRC31 | 401135 | 7521800 | 448 | 69 | -60 | 240 | RC |
88WDRC32 | 401250 | 7521750 | 450 | 106 | -90 | 0 | RC |
88WDRC33 | 401250 | 7521700 | 440 | 87 | -60 | 200 | RC |
88WDRC34 | 401250 | 7521335 | 450 | 105 | -90 | 0 | RC |
88WDRC35 | 401950 | 7521360 | 430 | 106 | -90 | 0 | RC |
88WDRC36 | 401950 | 7521285 | 450 | 106 | -90 | 0 | RC |
88WDRC37 | 401950 | 7521425 | 440 | 106 | -90 | 0 | RC |
87WDD01 | 401950 | 7521500 | 415 | 287.7 | -61 | 181 | DD |
87WDD02 | 401985 | 7521555 | 440 | 117 | -70 | 180 | DD |
88WDD03 | 401250 | 7521500 | 420 | 212.7 | -90 | 0 | DD |
88WDD04 | 402180 | 7521480 | 434 | 200.8 | -90 | 0 | DD |
90WDD05 | 401950 | 7521425 | 440 | 409.9 | -90 | 0 | DD |