Ricciardo Gold Resource Nears 1Moz at 1.8 g/t; Antimony Recovery Hits 83%
Warriedar Resources has nearly doubled its gold resource at the Ricciardo Project to 947.5 koz and uncovered promising antimony mineralisation, backed by strong metallurgical test results and a recent A$9.55 million capital raise.
- Ricciardo Mineral Resource Estimate doubles to 16.44 Mt @ 1.8 g/t Au for 947.5 koz gold
- High gold recoveries up to 96% from initial metallurgical testing of primary mineralisation
- Significant antimony mineralisation confirmed with high-grade zones and strong recoveries
- A$9.55 million raised via equity placement to fund 2025 exploration and drilling programs
- Big Springs Project in Nevada progressing with permit applications and drill plans
Ricciardo Resource Nearly Doubles
Warriedar Resources Limited (ASX: WA8) has announced a substantial upgrade to its Ricciardo Gold Project in Western Australia, with the updated Mineral Resource Estimate (MRE) nearly doubling the contained gold ounces to 947,500 ounces. The new MRE stands at 16.44 million tonnes grading 1.8 grams per tonne gold, split between 467,500 ounces in open-pit resources and 480,000 ounces underground. This 99% increase from the previous estimate underscores the project's growing significance within Warriedar's portfolio.
The Ricciardo deposit, situated along the 25-kilometre 'Golden Corridor' of the Golden Range Project, has been the focal point of Warriedar's 2024 exploration efforts. The company’s strategy of targeting fresh rock extensions beneath shallow historic pits has proven highly effective, unlocking new high-grade shoots that remain open at depth and along strike.
Metallurgical Advances Support Development Pathways
Complementing the resource growth, Warriedar reported encouraging metallurgical test results from primary Ricciardo mineralisation samples. Initial flotation tests achieved gold recoveries as high as 96%, combining flotation concentrate and cyanidation of flotation tails. Further bacterial oxidation of flotation concentrates demonstrated net recoveries around 88%, indicating viable processing routes for both direct concentrate export and on-site dore production.
These metallurgical outcomes provide a clear pathway to economically extract gold from the primary sulphide mineralisation, which had been historically underexplored. The company plans to optimize flotation and test alternative extraction methods, including samples from other deposits along the Golden Corridor.
Antimony Emerges as a Valuable Byproduct
Warriedar has also identified significant antimony (Sb) mineralisation at Ricciardo, with wide, high-grade zones confirmed below the Ardmore and Copse-Silverstone pits. Historic and recent drilling assays reveal multiple Sb intervals over approximately 1 kilometre of strike, with grades reaching up to 28.5% Sb in some core samples.
Initial metallurgical testing of antimony samples yielded high recoveries of 81-83% and concentrate grades up to 49% Sb, suggesting a feasible pathway to produce a marketable antimony concentrate. Given antimony's critical mineral status and recent supply constraints, especially due to Chinese export restrictions, this discovery adds a strategic dimension to Warriedar’s project economics.
The company is advancing towards a maiden antimony MRE for Ricciardo, with extensive re-assaying of historical drill pulps underway to refine the resource estimate.
Big Springs Project Progress and Corporate Update
In Nevada, Warriedar’s Big Springs Project remains drill-ready with a current JORC resource of 1.01 million ounces gold at 2.0 g/t. The company is progressing its Exploration Plan of Operation permitting, which will enable broader drilling beyond the existing mining lease. The focus includes targeting high-grade shoots at North Sammy and exploring new Carlin-type deposits in the region.
On the corporate front, Warriedar successfully raised A$9.55 million through an equity placement priced at A$0.05 per share, strongly supported by institutional and sophisticated investors. The funds will underpin the company’s 2025 growth-focused drilling programs, particularly at Golden Range and Ricciardo. As of 31 December 2024, Warriedar held A$10.57 million in cash with no debt, positioning it well for ongoing exploration and development.
Warriedar also secured a co-funded drilling grant under Western Australia’s Exploration Incentive Scheme to test a copper-lead-zinc-silver target at Golden Grove South, further diversifying its exploration pipeline.
Outlook
With a significantly expanded gold resource, promising antimony potential, and robust metallurgical foundations, Warriedar is poised to advance Ricciardo towards development. The company’s strategic capital raise and government-backed exploration funding provide a solid platform for continued resource growth and project maturation in 2025.
Bottom Line?
Warriedar’s resource expansion and metallurgical progress at Ricciardo set the stage for a transformative year ahead.
Questions in the middle?
- How will upcoming assay results from 2024 drilling influence the Ricciardo and Azure Coast resource models?
- What are the timelines and cost implications for advancing the maiden antimony resource and potential processing plant integration?
- Could Warriedar secure a strategic partner to accelerate development at Big Springs or Golden Range?
