Ricciardo Delivers 107% Gold Equivalent Increase with Antimony Breakthrough
Warriedar Resources Ltd Ricciardo deposit has delivered a maiden antimony Mineral Resource Estimate of 12.2 Mt @ 0.5% Sb for 60.3 kt contained antimony. This development has dramatically expanded the deposit's overall value, with the total Ricciardo MRE now standing at 1.96 Moz AuEq (gold equivalent), representing a 107% increase from previous resource estimates.
The open-pit portion of the resource contains 11.4 Mt @ 3.3 g/t AuEq, including 56.8 kt Sb and 331 koz Au within the antimony grade shell. Importantly, 37% of the antimony resource falls within the higher-confidence Measured and Indicated categories, providing a solid foundation for future development planning.
With this update, the total MRE across Warriedar's Golden Range and Fields Find projects now stands at 31 Mt @ 2.3 g/t AuEq for 2.3 Moz AuEq.
Understanding Antimony: A Critical Mineral with Strategic Value
Antimony is classified as a critical mineral by most developed nations due to its essential applications in defence, energy transition, and industrial sectors. The metal is primarily used in flame retardants, lead-acid batteries, and as a hardening agent in lead alloys for ammunition and electronics.
What makes antimony particularly valuable is its highly concentrated supply chain – China controls approximately 53% of global production and 60% of refining capacity. With antimony prices reaching US$55,457/tonne (as of April 2025), Western nations are actively seeking secure, alternative supply sources.
Antimony mineralogy at the Warriedar Resources Ltd Ricciardo deposit is dominated by stibnite and berthierite, which initial metallurgical testwork has shown can produce high-grade concentrates (approximately 49% Sb) with attractive recovery levels (81%). This technological pathway significantly enhances the project's economic potential.
For investors interested in this sector, navigating junior mining investments requires understanding both the strategic value and market conditions affecting these critical minerals.
Favourable Project Location and Infrastructure
The Ricciardo deposit benefits from exceptional infrastructure advantages that will accelerate its development timeline. Located on granted Mining Leases just 8 km south of Warriedar's Golden Range Mill, the project is well-positioned within Western Australia's established mining region.
The deposit is accessible by existing roads and lies within proximity to other significant mining operations: 90 km north of Capricorn Metals' Mt Gibson Gold Project, 26 km from the neighbouring Golden Grove processing facility, and 40 km northeast of Vault Minerals' high-grade Rothsay gold mine.
This development comes at a time when mining sector trends indicate increasing focus on projects with established infrastructure and shorter paths to production.
Development Timeline and Next Steps
With the maiden antimony resource now established, Warriedar is advancing on multiple fronts:
- Sb-focused drilling starting this quarter at Ricciardo, with particular emphasis on the high-grade antimony shoot defined below the Ardmore pit
- Ongoing metallurgical testwork to optimise antimony concentrate production and gold recovery
- Continued exploration along the highly prospective 25km-long 'Golden Corridor'
The company plans to undertake antimony-focused work in parallel with its ongoing gold resource expansion, creating a dual-commodity development pathway.
Antimony's classification as a critical mineral aligns with global efforts toward unlocking critical minerals potential essential for sustainable energy and technology development.
Why Investors Should Track Warriedar Resources
Warriedar represents a compelling investment opportunity for several reasons:
- Strategic critical mineral exposure – As the largest contained antimony resource in Western Australia and largest open-pit antimony resource in Australia on a granted Mining Lease
- Dual-commodity upside – Combined gold-antimony production potential enhances economic resilience
- Infrastructure advantage – Existing mill and established access reduce development costs and timelines
- Supply security appeal – Positioned to become a secure antimony supplier outside Chinese control
- Strong technical foundation – 37% of antimony resources already in Measured and Indicated categories
- Experienced leadership – Led by Managing Director Amanda Buckingham with a proven track record
The Warriedar Resources Ltd Ricciardo deposit has strategically positioned itself at the intersection of precious metals and critical minerals, offering investors exposure to both the gold market and the rapidly evolving critical minerals supply chain. With antimony prices trending upward due to global supply concerns, the company's timing in defining this significant antimony resource could not be better.
Furthermore, potential shifts in global mineral strategies, similar to Saudi Arabia's mining revolution, highlight the importance of developing alternative supply sources for critical minerals like antimony.
Political considerations could also impact the sector, with some analysts suggesting Trump's potential return might revolutionize global critical mineral strategies and potentially benefit Western producers.
Key Takeaway:
"Warriedar Resources has positioned itself as an emerging leader in both gold and critical minerals, with its Ricciardo deposit now recognised as Australia's largest open-pit antimony resource. With a total resource of 2.3 Moz AuEq across its projects and a clear pathway to production, Warriedar offers significant upside potential in a jurisdiction known for mining excellence."
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