Visible gold discovery enhances Warriedar Resources (ASX:WA8) Ricciardo growth strategy

Warriedar Resources (ASX:WA8) has intersected visible gold for the first time in its own drilling at the Ricciardo deposit, returning bonanza grades from outside the current high grade resource model.

With implications for both resource growth and processing economics, the result marks a potentially transformative step in the company’s development of the broader Golden Range Project in Western Australia’s Murchison region.

Managing Director Amanda Buckingham explains the significance of the intercept and how Warriedar is acting quickly to capitalise on it.

What is the significance of the visible gold intercept at Ardmore within the Ricciardo deposit?

Hole RDRC068 delivered 2 metres at 116.3 grams per tonne gold, including a spectacular 0.2 metre at 1,148 grams per tonne, from fresh primary rock inside the planned open pit yet wholly outside our existing high grade model zones.

It is the first time our own drilling has identified visible gold at Ricciardo and it points to a new, potentially free milling, high grade style of mineralisation that could be simpler and cheaper to process than refractory sulphides, thereby improving project economics.

“It is the first time our own drilling has identified visible gold at Ricciardo and it points to a new, potentially free milling, high grade style of mineralisation that could be simpler and cheaper to process.”

Significantly, the intercept sits close to established high grade gold and antimony domains, enhancing the scope for a multi commodity development.

Does this change your interpretation of the geology or mineralisation potential at Ricciardo?

Yes, the result challenges our current model and adds a fresh dimension.

Previous work had already extended high grades and confirmed Australia’s largest open pit antimony resource, but this intercept suggests late stage overprinting zones of visible gold analogous to those at high grade systems such as Fosterville.

“These discreet, structurally controlled zones could be highly impactful; if they repeat along strike or at depth, the growth potential rises materially.”

These zones may be spatially linked to structures that cut across the existing resource, introducing an entirely new target type within the same structural setting.

While additional data are needed to determine their extent and controls, the implications for resource growth are significant.

What are the next steps following this discovery?

We are moving fast, one reverse circulation rig is already onsite, a second arrives in July, and the diamond rigs now at Windinne Well and M1 will transfer to Ricciardo before month end, giving four active rigs.

Together they will undertake an initial 29,000 metre program aimed at upgrading and expanding the resource, with particular emphasis on the Ardmore area where RDRC068 was drilled.

“Together they will undertake an initial 29,000 metre program aimed at upgrading and expanding the resource, with particular emphasis on the Ardmore area where RDRC068 was drilled.”

The program includes targeted follow ups, strike and down dip step outs, and broader halo coverage.

The geological model is being revised to prioritise areas that may host similar high grade mineralisation.

The accelerated work is designed not just to grow the resource, but also to provide the metallurgical data needed to inform future development strategies.

How does this discovery relate to the existing resource at Ricciardo and the recent upgrades?

Ricciardo’s current Mineral Resource Estimate is 24.5 million tonnes at 2.5 grams per tonne gold equivalent for 1.96 million ounces gold equivalent, comprising 1.04 million ounces of gold and 60,300 tonnes of antimony, based on upgrades in November 2024 and May 2025.

The new visible gold intercept lies outside all previously modelled high grade shoots and was not included in those upgrades.

Given its exceptional grade, even a small volume of this mineralisation could contribute disproportionately to future resource growth.

The proximity to existing antimony and gold domains also opens the possibility of co development or dual processing pathways, depending on how the metallurgy stacks up.

Is Warriedar adequately funded to capitalise on this opportunity and accelerate drilling?

Absolutely, we closed March 2025 with 7.9 million dollars in cash, and a recent capital raise lifts that to about 21.8 million dollars, leaving us debt free and fully funded for simultaneous exploration, infill and metallurgical drilling at Ricciardo while continuing regional programs across Golden Range and Fields Find.

“We closed March 2025 with 7.9 million dollars in cash, and a recent capital raise lifts that to about 21.8 million dollars, leaving us debt free and fully funded for simultaneous exploration, infill and metallurgical drilling at Ricciardo.”

The four rig campaign now underway is one of the most active in the Murchison region.

It is designed to generate a steady flow of results and deliver the data needed for another round of Mineral Resource upgrades, especially at the Ardmore end.

With full ownership of the deposit and no debt, Warriedar has the flexibility to move forward on multiple fronts, including preparation for development scenarios.

Outlook: Positioned for Accelerated Growth at Ardmore

With strong cash reserves, multiple drill rigs mobilised, and the discovery of an entirely new style of high grade gold mineralisation, Warriedar Resources is entering a pivotal phase at Ricciardo.

The potential for free milling gold and co located antimony enhances both the value and versatility of the project, as the company targets a significant step change in resource growth and future development options.

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