Warriedar Resources

Quarterly Activities Report for the Period Ended 31 March 2024

Warriedar Resources Limited (ASX: WA8) (Warriedar or the Company) is pleased to report on its activities for the quarter ended 31 March 2024.


HIGHLIGHTS

Golden Range and Fields Find Projects, Western Australia

  • Drilling activities for CY2024 commenced at the Golden Range Project with a reverse circulation (RC) program at the Ricciardo deposit, twenty-one (21) holes drilled for 3,500m drilling.
  • Ricciardo sits in the middle of the 25km-long ‘Golden Corridor’ at Golden Range, which hosts six discrete deposits (18 historic pits) that are all open at depth and possess immediate growth potential.
  • Assay results from three (3) holes drilled in December and eighteen (18) holes drilled in February were received during the quarter, with all holes returning significant gold mineralisation. Results include:
    • 32m @ 3.59 g/t Au from 148m, incl. 1m @ 10.85 g/t Au from 151m
    • 8m @ 11.40 g/t Au from 166m, incl. 3m @ 22.38 g/t Au from 167m
    • 3m @ 5.61 g/t Au from 114m, incl. 1m @ 11.20 g/t Au from 114m
    • 11m @ 3.43 g/t Au from 149m
    • 6m @ 4.69 g/t Au from 142m
    • 8m @ 2.63 g/t Au from 160m
    • 9m @ 1.97 g/t Au from 201m
    • 20m @ 1.03 g/t Au from 177m
    • 14m @ 1.15 g/t Au from 114m
  • Results demonstrate the excellent potential for further Resource growth along the ‘Golden Corridor’, below and between historic open pits.
  • Assay results from a further three (3) holes drilled beneath the Ardmore pit are pending, with results anticipated this month.
  • Further growth-focused drilling along the ‘Golden Corridor’ is planned for Q2 CY2024.
Big Springs Project, Nevada
  • Proposed Plan of Operation (PoO) application continues to progress.

Corporate

  • Resignation of Non-Executive Director Mr Mingyan (Joe) Wang.
  • Successful bookbuild for A$6.0 million two-tranche equity placement, with binding commitments received from new and existing shareholders.
  • Cash of A$4.8 million as at 31 March 2024 and zero debt (excluding typical trade creditor balances).

Western Australian Projects

The Golden Range and Fields Find Projects (the Projects) are located approximately 350 km northeast of Perth and 260 km east-southeast of Geraldton (Figure 1). The total consolidated land package of the Projects is 813 km2, extending for over 70 km of strike from north to south and covering much of the central Yalgoo-Singleton and Warriedar Archean greenstone belts.


Click here for the full ASX Release

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.

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