Warriedar Resources (ASX:WA8) Ricciardo drill results highlight resource growth and development potential

Warriedar Resources (ASX:WA8) has released full hole assay results from three diamond core drill holes at the Ardmore end of its flagship Ricciardo gold-antimony deposit, part of the Golden Range Project in Western Australia.

These results include some of the thickest and highest-grade intercepts seen to date, confirming strong down-plunge continuity of mineralised shoots and suggesting meaningful potential to expand the current Mineral Resource Estimate (MRE).

To provide further clarity around the significance of these results and what they mean for the company’s forward strategy, Managing Director Amanda Buckingham answers the most pressing investor questions.

How do the latest results compare to the existing Mineral Resource Estimate at Ricciardo?

The recent drill results are located in an area previously modelled with lower grade and narrower mineralisation.

However, the new intercepts are not only thicker but also demonstrate higher gold and antimony content.

This discrepancy indicates that the current MRE underrepresents the true scale and quality of mineralisation in the Ardmore zone, creating an opportunity to upgrade the model through further drilling and interpretation.

“The latest assay results at Ardmore show significantly higher grades and greater thicknesses than those currently modelled in the Ricciardo Mineral Resource Estimate.”

What is the significance of these results for the development potential at Ricciardo?

The new data supports a broader and deeper understanding of the Ardmore area, particularly below the historical pit where prior exploration was minimal.

With consistent intercepts across multiple holes and mineralisation beginning at shallow depths, Ricciardo presents a compelling case for future development.

The fact that this work is being conducted on existing mining leases further enhances its near-term potential.

“What we are now uncovering is a continuous, high-grade gold-antimony system within the sulphide zones beneath the Ardmore pit.”

Why is antimony important to Warriedar’s strategy and how does it complement the gold mineralisation?

Antimony occurs with gold in many of the Ricciardo intercepts and is included in the company’s gold equivalent calculations due to its commercial value and metallurgical recovery potential.

Its inclusion significantly enhances the overall grade profile of the deposit.

With growing global demand and limited domestic supply, antimony offers an additional value stream and aligns Ricciardo with Australia’s broader critical minerals strategy.

“The global demand for antimony, especially in energy storage and defence applications, has seen increased attention.”

What are the next steps following these results at Ardmore and across the broader Ricciardo system?

Warriedar is continuing its multi-rig drilling program, targeting both infill and step-out areas at Ardmore and across Ricciardo.

The aim is to define the extent of high-grade shoots, convert inferred material to higher-confidence categories, and ultimately deliver an updated MRE.

In parallel, the company is progressing metallurgical test work and preparing technical data to support future economic studies.

More assays are pending and will contribute to ongoing planning.

How does the company’s financial position support ongoing exploration and growth?

The company is in a strong financial position, with $24.4 million in cash and no debt as of 30 June 2025.

This funding allows Warriedar to continue its accelerated drilling program, invest in project de-risking activities and advance studies without the need for near-term capital raising.

The ability to act decisively on exploration success is underpinned by this financial flexibility.

“As of 30 June 2025, we had $24.4 million in cash and no debt on the balance sheet. This provides us with the flexibility to fund our work at Ricciardo and other high-priority areas without the need to raise capital in the short term.”

Advancing Ricciardo with confidence

The latest drilling at Ricciardo confirms the strength and continuity of high-grade mineralisation at depth and reveals the potential for a much larger and higher-grade system than currently modelled.

These results represent an important step in Warriedar Resources strategy to grow its resource base and progress toward potential development within the Golden Range Project.

With a strong balance sheet, an experienced technical team, and consistent

exploration success, Warriedar is well placed to continue building value through discovery and definition.

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