⭐ Warriedar Resources Ltd (ASX: WA8) Strikes 19m at 4.94 g/t Gold, Confirming High-Grade Extensions at Ricciardo
Exciting news from Western Australia! Warriedar Resources has reported outstanding results from its diamond drilling program at the Ricciardo gold deposit, part of its Golden Range Project.
🔑 Key Highlights:
- 19m @ 4.94 g/t Au from 188m
- 12m @ 6.98 g/t Au from 110m (incl. 3m @ 22.12 g/t)
- First diamond drilling at Ricciardo in 10 years
- 5,030m RC drilling and 1,420m diamond drilling completed
- High-grade gold zones extended below existing pits
🔬 What it means: These results confirm and extend high-grade gold zones, with the potential to boost the deposit's mineral resource estimate. They underscore the potential of Warriedar's 'Golden Corridor', a 25km-long trend encompassing six deposits across 18 historic pits.
🌍 Market Context: With gold prices near all-time highs, new high-grade discoveries in top-tier jurisdictions like Western Australia are attracting significant interest.
💰 Company Snapshot:
- Market cap: ~A$40.1 million
- Shares on issue: 692 million
- Cash position: A$4.8 million (as of March 31, 2024)
- Current resource: Over 1.8 million ounces across WA and Nevada projects
Next Steps:
- Continue drilling program
- Await results from remaining holes
- Focus on expanding gold resource inventory along the 'Golden Corridor'
🔗 Read our article linked in the comments below:
#Gold #Exploration #ASX #WA8 #WesternAustralia #Stocks #Resources
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