Warriedar Resources (ASX:WA8) Confirms High Gold Recovery at Windinne Well
High Gold Recovery Confirmed
Warriedar Resources Limited (ASX:WA8) has completed metallurgical test work on primary gold samples from its Windinne Well deposit. The tests revealed an average gold recovery rate of 98.2%, with the highest recovery reaching 99.8%. These results confirm that the primary mineralisation at Windinne Well is free milling, allowing for efficient gold extraction using conventional leaching processes.
Performance Across Golden Corridor
Historical metallurgical test results from other deposits within the Golden Corridor, including Austin, Monaco, and Bugeye, also demonstrated high gold recovery rates. Monaco achieved up to 99.6% recovery in the oxide zone and 99.7% in the transition zone, while Austin and Windinne Well showed recoveries of up to 99.3% and approximately 99%, respectively. These consistent results underscore the potential for rapid and capital-efficient commercialisation across the corridor.
Ongoing and Future Projects
Warriedar is planning further metallurgical test work on additional Golden Corridor deposits in the coming months. Concurrently, the company has initiated growth-focused drilling within the corridor, with the RC rig currently operating at Windinne Well. An updated Mineral Resource Estimate (MRE) for the Windinne Well deposit is expected by mid-2025, which will provide further insights into the deposit’s potential.
Capital Structure
Warriedar currently has 956 million shares on issue, with a market capitalisation of A$42 million. The company holds A$10.6 million in cash as of December 2024 and maintains zero debt, positioning it well to support its ongoing and future exploration activities.
Executive Comments
Amanda Buckingham, Managing Director and CEO of Warriedar, stated, “Warriedar’s main focus is growing its fresh rock gold resources at Golden Range, via both extension of existing deposits and targeted new discoveries along the shear. At almost 1 Moz and growing, Ricciardo is our flagship deposit in this regard. However, we also hold other deposits within the ‘Golden Corridor’ that, by virtue of their possible free-milling nature, possess the potential for more rapid, capital-lite commercialisation. We have recommenced drilling at Windinne Well, and we are excited to advance our evaluation of its potential for early mining and monetisation.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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