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Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to advise that assay results have been received for the greenfields drilling program undertaken at the Mopoke, Falcon, Sandpiper and Warriedar Copper Prospects at its Fields Find Project (Fields Find) in the Murchison region of Western Australia. The drilling is part of Warriedar’s exploration program designed to test the highly prospective Fields Find West area for significant gold and base metal deposits.
HIGHLIGHTS:
- Greenfields drilling at Fields Find West has successfully intercepted significant gold and copper mineralisation including:
- 4m @ 5.00 g/t Au from 92m (Mopoke Prospect)
- 8m @ 1.46 g/t Au from 24m (Sandpiper Prospect)
- 4m @ 1.58 g/t Au from 25m (Sandpiper Prospect)
- 1m @ 1.66% Cu, 0.22 g/t Au, 102 ppm Mo, 16 g/t Ag from 34m (Warriedar Copper Prospect)
- Combined with historic drilling, these results support a multi-phase porphyry intrusive model of robust scale potential.
- Drilling and geophysical data confirm the significant footprint of the porphyry which has been identified within an area ~ 7km long (from Sandpiper in the north to Warriedar Copper in the south). The contact of the porphyry and surrounding greenstone units defines a significant and prospective exploration corridor.
- Soil sampling confirms the high-grade Sandpiper gold mineralisation continues along strike a further 500m to the south. Soil sampling has now defined a gold anomaly that measures ~800m by 350m.
Warriedar Managing Director and CEO, Dr Amanda Buckingham, commented:
“The assays from our initial Fields Find West drilling have demonstrated the wider presence of significant gold mineralisation in the shallow porphyry system previously identified at Fields Find. This is a meaningful development, both in terms of our exploration model for this central corridor at Fields Find West and for overall exploration prospectivity of this area to hold substantial accumulations of gold.
We plan to return to this target zone during H1 CY2024 to test the extent of the mineralised system and its potential to deliver a sizeable deposit(s) of mineable, economic ounces.”
Engage with this announcement at the Warriedar Investor Hub.
Figure 1: Location of the Fields Find Project & the porphyry system on the western side.
This initial drilling focused along the central corridor of Fields Find West, where late monzonite porphyries intrude the greenstone sequence. In total, 17 holes for 4,026 metres were drilled across four prospects – Mopoke, Sandpiper, Falcon and Warriedar Copper (refer Table 1 and Figures 2 & 3). Significant intercepts are reported in Tables 2 & 3.
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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.
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.
Further Step-Out Gold Success and High-Grade Antimony Discovery
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.
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.
Wadi Al Junah VMS-Style Copper-Zinc-Gold-Silver Project in Saudi Arabia
Highlights
- As announced on 6 November, MBK’s Saudi Arabian JV company, has been awarded the Wadi Al Junah Project as part of the Saudi Government’s Exploration Licensing Round 6
- Wadi Al Junah is prospective for volcanogenic massive sulphide (VMS) copper-zinc- gold-silver mineralisation and for shear zone gold-silver, with several untested priority targets
- The Project is 35km east of the Al Hajar Au-Ag-(Cu-Zn) deposit previously mined by Ma’aden and is proximal to the regional centre of Bisha, and close to major access routes, local towns and workforce
- Saudi exploration strategy is supported by a well capitalised in-country JV Company in CMC and significant Saudi government incentives to de-risk and fast-track exploration
- Metal Bank continues to assess new potential project areas in Saudi Arabia prospective for copper, gold and other critical minerals – several tenement applications in progress
CMC is a Saudi Arabian limited liability company owned by MBK (60%) and Central Mining Holding Company (‘CMH’, 40%). CMH is a member of the Al Qahtani Holdings group, and was the JV partner of Citadel Resources which, under the leadership of Inés Scotland as Managing Director, was responsible for the exploration and development of the Jabal Sayid copper project in Saudi Arabia (prior to its acquisition by Equinox). CMC will be responsible for managing and implementing the work program for the Wadi Al Junah project utilising the technical expertise of MBK, as the exploration JV partner, in combination with the KSA expertise of the Al Qahtani Group. CMC has a current capitalisation of SAR5m (~AUD2.1m).
Wadi al Junah with an area of 427km2 was the largest of the projects offered in Round 6 and is proximal to the major regional centre and airport of Bisha, with major access routes passing through the license area and local towns and workforce close by. The Project is located in the prospective Wadi Shwas Gold Belt, a region under-explored for shear zone gold, VMS copper-zinc-gold-silver and intrusion-related gold and base metal deposits. It is supported by several mineral occurrences with encouraging geological observations, and gold, silver and copper grades in historic regional- scale reconnaissance mapping, which have not been followed up by modern work.
MBK’s technical team has prepared a comprehensive two-year work program, with an initial focus on following up the previous limited and surface based exploration for mineral occurrences of copper, gold and silver. MBK is aiming to be drill-ready within the next six months.
Commenting on this acquisition, Metal Bank’s Chair, Inés Scotland said:
“The successful tender for the Wadi al Junah project in Saudi Arabia by our JV company CMC via a tightly contested and highly competitive exploration round speaks to our commitment, capability and technical expertise in achieving our strategy of acquiring prospective tenure within Saudi Arabia, which we believe remains underexplored and highly prospective.
Wadi al Junah represents our first project back in Saudi Arabia, a region in which MBK’s management team has extensive experience and a proven track record of success, having previously developed the Jabal Sayid project. We are well-supported by both our JV partner and the significant government incentives provided by the Kingdom of Saudi Arabia in search for the next Jabal Sayid. The Arabian Shield has so much underexplored potential, and we are ready to get our initial phase of exploration underway as quickly as possible.”
Wadi al Junah Copper-Zinc-Gold-Silver Summary
The Wadi al Junah project area covers an area of 427sq km within the Asir province of the Arabian Shield, southwest Saudi Arabia (Figures 1 and 2). It is approximately 375km south-east of Jeddah, 150km east-northeast of the port of Al Quinfidhad and around 35km east of the Al Hajar Au-Ag-(Cu- Zn) deposit previously mined by Ma’aden. It is proximal to the major regional centre and airport of Bisha, with major access routes passing through the license area and local towns and workforce close by. The majority of the project area is accessed by local tracks and wadi valleys in moderate topography.
Figure 1: MBK MENA projects showing Wadi al Junah (Saudi Arabia) and Malaqa, Area 47 and Area 65 (Jordan).
Figure 2: Wadi al Junah location map within the Arabian Shield showing major geological provinces and major Au and Cu mines (modified from KSA Ministry of Industry and Minerals publication after Nehlig et al, 2002)
Geology
Wadi al Junah is situated within the central Asir terrane of the Archaean Arabian Shield (Figure 2) within the ~80km long north-trending Wadi Shwas Gold Belt. The Shwas VMS belt on the western margin of the Wadi Shwas Gold Belt is host to the Al Hajar Au-Ag-Cu-Zn deposit, and numerous other VMS base metal and Au mineral occurrences of Proterozoic age are present in the region (Figure 3).
Three known mineral occurrences occur in the tenement area – Haniyat (Ag-Cu-+/-Au+/-Zn), Wadi al Maytha (Ag-Cu) and Wadi Umm Rahka (Ag-Cu). Very limited rock chip sampling as part of regional scale mapping work in the 1960’s and 1970’s includes results up to 1.53% Cu, 0.44g/t Au and 160g/t Ag from these prospects, which were never followed up1.
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This article includes content from Metal Bank 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.
Octava to Commence Drilling at Yallalong High-Grade Antimony Project
Highlights
- Drill rig relocating to site with drilling to commence this weekend.
- The 3000m reverse circulation (RC) drill program is targeting further high-grade antimony at the Discovery prospect.
- Historic drilling at Discovery recorded high-grade antimony intercepts over a strike length of ~300m and remains open. Results include:
- YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
- YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
- After drilling at Discovery, the drill rig will relocate to the Central antimony target, 2km north along strike. There has been no previous drilling at Central.
- A detailed geophysical survey over the antimony corridor at Yallalong is now complete, with the data being processed. This is expected to generate further targets within the antimony corridor.
Octava’s Managing Director Bevan Wakelam stated, "It’s great to have the rig heading to site and earlier than we had planned. The drilling will start on Discovery, then move to the Central target and should take about 2 weeks to complete. High-grade antimony has already been intersected at Discovery over a significant strike length and this drilling will further test the size. We will also twin some of the previously drilled holes."
Figure 1. Planned drill hole locations at the Discovery antimony target - Yallalong Antimony Project.
The antimony (Sb) mineralisation identified at Yallalong appears within a 10km north-south striking mineralised corridor that is interpreted to be related to a structural belt between the regional scale Darling and Woodrarung faults. Previous exploration identified four principal antimony targets where antimony mineralisation was exposed at surface. Only the Discovery Prospect has any drilling and remains open. Antimony ingot prices at that time were ~$8000/tonne compared to over $30,000/tonne now1.
Figure 2. Antimony targets at Yallalong antimony project with underlying geology.
Drilling at Discovery target recorded some of the highest-grade antimony drill intersections in Australia, at shallow depth, over a strike of ~300m including:
- YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
- YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
- YRC27: 6m @ 1.35% Sb from 13m
After drilling at the Discovery target is complete, the rig will then move to the Central target, which is located 2 kilometres north along strike. There has been no previous drilling at the Central target.
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This article includes content from Octava Minerals 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.
Drilling Preparations at Abercromby Gold Project
BMG Resources Limited (ASX: BMG) (BMG or the Company) is pleased to announce that preparations to resume drilling at its 100%-owned Abercromby Gold Project are well advanced with the start of drilling scheduled for this month.
- Diamond drill programme focused on resource growth is scheduled to commence this month at the Abercromby Gold Project
- Extensional drilling of high-grade zones is planned with potential to add significantly to BMG's maiden resource of 518,000 oz Au at 1.45 g/t Au
- Infill drilling planned to convert inferred resources to the indicated category to support development studies
- Programme of Work approval in place
- Programme of Work approval in place
John Prineas, BMG's Non-Executive Chairman, said:
"Following the support shown by investors in the recent capital raising, the team at BMG have moved quickly to finalise arrangements to resume drilling at the Abercromby Gold Project.
"The drill programme will focus on expanding high-grade gold zones beyond the existing resource shell, as well as increasing resource confidence by upgrading inferred resources to indicated status.
"The results of the drilling have potential to contribute significantly to resource growth at Abercromby, and to ..iaterially boost the potential project economics."
Drilling for growth in gold resources:
BMG delivered the large maiden Mineral Resource at Abercromby after completion of only three drill campaigns and at a discovery cost of just $8.35 per ounce. This achievement highlights the extensive gold endowment at Abercromby, as well as the efficient exploration planning by our technical team.
This excellent track record of results at Abercromby provides confidence in the potential for continued drilling success at Abercromby that could increase the size of the gold resource.
The Abercromby Gold Project is owned 100% by BMG and comprised within two granted Mining Leases. The Project is located in an established mining region with access to infrastructure (roads, power) and proximal to a number pf producing gold mines.
The favourable metallurgical properties of the Abercromby ore were confirmed by metallurgical testwork completed by Extreme Metallurgy and reviewed by GR Engineering Services. That testwork concluded that the Abercromby gold mineralisation was free milling in nature and amenable to traditional carbon-in-leach processing. High gold recoveries were achieved in the range 93% to 95%.
Maiden Resource is just the beginning:
The maiden MRE for Abercromby is comprised in the Capital Deposit and is defined as 11.12Mt @ 1.45 g/t Au for 518,000 oz Au. This resource is a subset of a global resource estimate containing about 670,000 oz Au at a Og/t Au lower cut-off.
The Capital Deposit remains open at depth and along strike — both to the north and south. A diamond drilling program is planned to commence this month to test for extensions of the mineralisation as well as to convert inferred resources to the indicated category.
The prospective stratigraphy at Abercromby extends for more than 6km with only a strike of 1.2km systematically drilled to date. This provides potential for substantial discovery opportunities with further exploration drilling.
Drilling is also planned for early next year to test regional targets to the south of the Capital Deposit.
Reconnaissance aircore drilling at the Capital South, Archer and Barrack Prospects — located along a 1km corridor of prospective stratigraphy to the south of the Capital Deposit — has confirmed the presence of a large high-grade gold system and supports the potential for a repetition of significant mineralisation like the Capital Deposit.
Table 1: JORC-compliant Mineral Resource for Abercromby.
A further announcement will be issued by BMG once drilling commences at Abercromby.
For further information on the Abercromby resource, see our ASX announcement dated 6 February 2023 'High Gold Recoveries — Abercromby Met Testwork' and 17 April 2023 '518,000oz Au Maiden Mineral Resource for Abercromby Gold Project'.
Click here for the full ASX Release
This article includes content from BMG Resources Limited (ASX: BMG), 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.
Octava Secures Drilling Contractor for the High-Grade Antimony Project at Yallalong
Highlights
- Octava has now completed the selection process for a drilling contractor to conduct exploration at its 100% owned high-grade Yallalong antimony project in the Midwest of Western Australia.
- A 3000m drilling program is expected to commence by the end of this month and will focus on the Discovery target, where previous high-grade intercepts have been recorded including:
- YRC16: 7m @ 3.27% Sb from 12m including 1m @ 11.5% from 18m
- YRC06: 3m @ 6.83% Sb from 21m including 1m @ 13.6% Sb from 22m
- Maiden drill holes will also be completed on the Central antimony target, where no previous drilling has been done.
- Detailed geophysical survey over the identified antimony corridor at Yallalong is progressing well, now 40% complete.
- The geophysical survey will assist in defining additional antimony targets within the corridor, that may be transported cover.
Octava’s Managing Director Bevan Wakelam stated, "We are really pleased to have secured our drillers to undertake the exploration drill program to outline further high-grade antimony at Yallalong. We will target lateral extensions of existing, known high grade antimony mineralisation and also the underlying bedrock contacts. We also look forward to completing the geophysical survey that will provide us with better geological understanding of what’s below the surface along the antimony corridor.”
Figure 1. Cross-section through the Discovery antimony target showing mineralisation occurring parallel to the sedimentary and mafic rock contact and in the fault zone. (refer ASX announcement 17 September 2024)The antimony (Sb) mineralisation identified at Yallalong appears to occur within a 10km north-south striking mineralised corridor that is interpreted to be related to a structural corridor between the Darling and Woodrarung faults. The fault zones act as conduits for mineralising fluids into the sedimentary rocks that are peripheral to mafic intrusive dykes, a well-known geological setting for antimony deposits worldwide.
Octava is planning to drill two of the priority antimony targets at the Yallalong antimony Project, Discovery and Central. Previous exploration identified four principal antimony targets where antimony mineralisation was exposed at surface at all target locations. Only the Discovery Prospect has any drilling and remains open. Antimony ingot prices at that time were ~$8000/tonne compared to over $30,000/tonne now1. Drilling is expected to commence at the end of this month.
The detailed geophysical surveys are progressing well, now at 40% and on track to be completed in the next 7-10 days. The survey will provide clearer understanding on these key structures, such as shears & faults and provide better definition of controlling lithological boundaries.
Figure 2. Progress map of Detailed Geophysical Survey at Yallalong antimony Project.
Figure 3. Geophysical Survey in progress at the Yallalong antimony project.
This announcement has been authorised for release by the Managing Director/CEO.
Click here for the full ASX Release
This article includes content from Octava Minerals 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.