Warriedar Resources believes its latest exploration results, coupled with historical drilling, support a multi-phase porphyry intrusive model of robust scale potential at Fields Find. Pic via Getty Images
Mining
Special Report: Greenfields drilling across Warriedar Resources’ Fields Find West area has intersected significant gold-copper mineralisation in the shallow porphyry system previously identified at the project.
Warriedar Resources (ASX:WA8) picked up the historic Fields Find and Golden Dragon (now known as the Golden Range) projects in WA’s Murchison region earlier this year, instantly doubling the company’s resources to ~2Moz.
The Murchison is home to notable gold companies such as Ramelius Resources (ASX:RMS) who operate the Mt Magnet mine and Capricorn Metals’ (ASX:CMM) with its undeveloped 1.45Moz Mount Gibson project.
Recent discoveries have been made by revisiting areas previously mined for different mineralisation types with Spectrum Metals (acquired by RMS for $208m in 2020) and Bellevue Gold (ASX:BGL) being just two former small cap examples.
Independent Investment Research (IRR) says WA8 could be next.
Recent greenfields drilling, focused on the central corridor of Fields Find West, has returned significant gold and copper assays supporting a multi-phase porphyry intrusive model of what WA8 describes as “robust scale potential”.
The results include 4m @ 5 g/t gold from 92m, 8m @ 1.46 g/t gold from 24m, 4m @ 1.58 g/t gold from 25m and 1m @ 1.66% copper, 0.22 g/t gold, 102ppm molybdenum, and 16 g/t silver from 34m.
This 17-hole for 4,206m drilling program tested four prospects – Mopoke, Sandpiper, Falcon and Warriedar Copper – and demonstrated the wider presence of significant gold mineralisation in the shallow porphyry system previously identified at Fields Find.
WA8 says the program, along with geophysical data, has confirmed the significant footprint of the porphyry which has been identified within an area ~7km long (from Sandpiper in the north to Warriedar Copper in the south).
The contact of the porphyry and surrounding greenstone units defines a significant and prospective exploration corridor.
“This is a meaningful development, both in terms of our exploration model for this central corridor at Fields Find West and for overall exploration prospectivity of this area to hold substantial accumulations of gold,” WA8 managing director and CEO Dr Amanda Buckingham says.
“We plan to return to this target zone during H1 CY2024 to test the extent of the mineralised system and its potential to deliver a sizeable deposit(s) of mineable, economic ounces.”
Following the confirmation of a multi-phase porphyry intrusive system, which hosts polymetallic mineralisation of gold, copper, molybdenum and silver, WA8 plans to conduct drilling in the first half of 2024.”Drilling will target the “highly fertile” contact identified between the porphyry and greenstone units and related hydrothermal systems.
This article was developed in collaboration with Warriedar Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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