High-Grade Gold-Antimony Discoveries Extend Ricciardo's Economic Potential
Warriedar Resources has announced significant high-grade gold and antimony intercepts from its flagship Ricciardo gold-antimony deposit, confirming the continuity of mineral-rich zones at depth and strengthening the project's growth potential.
Diamond Drilling Confirms Multiple Rich Mineralised Zones
The first of four diamond holes drilled at the Ardmore end of the Ricciardo gold-antimony deposit has returned substantial gold and antimony mineralisation across multiple zones. Hole RDRC069 intercepted 24 meters at 0.99% antimony and 1.55 g/t gold (3.65 g/t gold equivalent) from 170 meters, including higher-grade sections of 3.1 meters at 4.06% Sb and 0.30 g/t Au and 6 meters at 0.54% Sb and 4.41 g/t Au.
Additional significant intercepts include:
- 10 meters at 0.91% Sb and 1.58 g/t Au (3.51 g/t AuEq) from 199 meters
- 10 meters at 1.55% Sb and 0.25 g/t Au (3.54 g/t AuEq) from 218 meters
- 7 meters at 1.34% Sb and 1.75 g/t Au (4.59 g/t AuEq) from 232 meters
- 12 meters at 0.33% Sb and 1.50 g/t Au (2.2 g/t AuEq) from 256 meters
These results clearly demonstrate the consistency of antimony mineralisation and the down-plunge continuity of both antimony and gold high-grade shoots at the Ardmore section of the Ricciardo deposit.
Mineralogy Study Confirms Conventional Stibnite
A new mineralogy study completed on the RDRC069 core confirms that conventional stibnite is the dominant antimony mineral at Ardmore, representing over 99% of the antimony mineralisation. This is significant for processing considerations, as stibnite is the most common and commercially viable antimony ore mineral.
The study utilised advanced LIBS (Laser-Induced Breakdown Spectroscopy) technology to identify the precise mineral composition within the core samples. This technology works by focusing a high-energy laser pulse onto the sample surface, creating a micro plasma that emits light characteristic of the minerals present. The resulting data provides greater confidence in future metallurgical work.
"Multiple zones with wide intervals of high-grade Sb and Au, and mineralogy results showing that conventional stibnite is the dominant antimony mineral. When coupled with the scale of the overall Ricciardo deposit, and its substantial further growth potential, it is clear why we are excited to be accelerating our drilling efforts there over coming months," stated Warriedar Managing Director and CEO, Amanda Buckingham.
Understanding Antimony's Critical Mineral Status
Antimony has been classified as a critical mineral by many countries including the United States, European Union, and Australia due to its essential applications in defense, energy transition, and industrial manufacturing.
Key Applications for Antimony
Antimony serves several crucial functions in modern industry and technology:
- Flame retardants: Used in safety equipment, electronics, and textiles to prevent or slow the spread of fire
- Battery technology: Essential component in lead-acid batteries and emerging liquid metal batteries
- Defense applications: Used in ammunition, infrared detection systems, and night vision equipment
- Renewable energy: Component in certain solar panels and semiconductor manufacturing
With China controlling approximately 53% of global antimony production and 90% of refining capacity, new Western sources of antimony have strategic importance for supply chain security. This heightens the potential significance of Warriedar Resources' high-grade antimony at Ricciardo gold deposit.
Ricciardo: Australia's Largest Open-Pit Antimony Resource
The Ricciardo gold-antimony system spans a strike length of approximately 2.3km and has seen limited drilling below 100m depth prior to Warriedar's ownership. Historical mining operations primarily focused on oxide material, with the transition and primary sulphides not systematically explored.
Warriedar's exploration success at Ricciardo has resulted in two successive Mineral Resource Estimate upgrades:
| Date | Resource | Gold | Antimony |
|---|---|---|---|
| November 2024 | 16.44 Mt @ 1.8 g/t Au | 947,500 oz | Not included |
| May 2025 | 24.5 Mt @ 2.5 g/t AuEq | 1.04 Moz | 60,300 tonnes |
The May 2025 update represents Australia's largest open-pit antimony resource, adding significant value beyond the gold content alone.
Excellent Regional Infrastructure
The Ricciardo deposit enjoys excellent infrastructure advantages that could streamline future development:
- Located on existing mining leases 100% owned by Warriedar
- Situated just 8km south of the Golden Range process plant
- Approximately 300km east of Geraldton port
- 420km by road north-northeast of Perth
- Near established mining operations including Capricorn Metals' Mt Gibson Gold Project (90km south) and Vault Minerals' high-grade Rothsay Gold Mine (40km south-west)
Ongoing Exploration Program
The current diamond drilling program at Ricciardo's Ardmore section forms part of a larger exploration initiative aimed at expanding the known resource. The results from hole RDRC069 demonstrate that the high-grade shoots continue with good consistency at depth, with several of the new intervals sitting outside the current Mineral Resource Estimate model.
These findings will inform further planned drilling at Ardmore, assisting Warriedar's geological team in understanding the broader potential of high-grade antimony-gold projects at Ricciardo.
Upcoming Catalysts
Investors should watch for several near-term catalysts:
- Results from the remaining three diamond drill holes at Ardmore
- Ongoing extensional drilling with multiple rigs currently operating at Ricciardo
- Potential resource expansion as drilling defines mineralisation outside the current MRE
- Metallurgical testing programs to confirm processing parameters
Investment Thesis: Why Warriedar Resources Stands Out
Warriedar Resources presents a compelling investment case based on several key factors:
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Dual commodity exposure – The Ricciardo deposit offers exposure to both gold and antimony, providing natural diversification and reducing single-commodity risk
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Critical mineral status – Antimony's designation as a critical mineral by Western governments may lead to potential development incentives or strategic partnerships
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Resource scale – At nearly 2 million gold-equivalent ounces, Ricciardo has sufficient scale to support a significant operation
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Growth potential – Limited drilling below 100m depth suggests significant potential to expand the resource with continued exploration
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Infrastructure advantages – Existing mining leases and proximity to processing facilities could accelerate and de-risk development
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Strong technical team – Management has demonstrated exploration success with substantial resource growth in a short timeframe
With a current market capitalisation of just A$118 million, a strong cash position of A$28.9 million (including recent placement), and no debt, Warriedar appears well-positioned to continue advancing the Ricciardo gold-antimony project toward development.
As further drilling results are announced and metallurgical studies progress, investors should monitor Warriedar's ability to convert its exploration success into a clear pathway to production. Furthermore, other companies like Inca Minerals secures majority control in strategic acquisitions and those with high-grade copper discovery in Zambia show that the appetite for quality mineral projects remains strong, providing a favorable backdrop for Warriedar's continued development of the Ricciardo deposit.
In addition, recent results from other explorers like the Gorilla Gold intercept at Lakeview demonstrate the ongoing potential for significant discoveries in the region, further validating Warriedar Resources' focus on the Ricciardo gold-antimony project as a strategic asset.
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