✦ This story from Amanda Buckingham, Managing Director and CEO of Warriedar Resources Limited (ASX: WA8) is about a project with limited deep drilling and a previous focus on gold only.
It's not everyday that we come across a great story. Noel Ong, CEO of Samso knew it was worth the wait. He reached out to Amanda Buckingham late last year, and finally got to meet Ms. Buckingham and hear her take on Warriedar Resources' journey now.
At that time, the company was still finalising their acquisition and in transition. Now the acquisition is complete, and the company's journey is looking even more interesting than ever. Right this minute, you're getting the exciting news straight from the horse's mouth here.
Warriedar Resources was once Anova Metals Limited. The company changed its name when they acquired the Murchison projects - Golden Range and Fields Find (see Fig.1).
And these new projects are making people sit up and take notice.
What's positive about the Warriedar Story?
Limited deep drilling.
Has a history of focusing on one commodity (gold) and one style.
Great location, adjacent to one of the most economical Volcanogenic Massive Sulphide (VMS) producing mines in Australia.
The area is also well-known for base metal (copper) mineralisation.
The average depth of drilling for the entire area is 42m, the historical operation was solely focused on oxide gold ore, no interest in any other metals and ignored all previous non oxide gold mineralisation.
This statement is what makes the company stand out.
The amount of drilling (more than 30,000 drill holes) that has been done would make one wonder if it's looking more like Swiss cheese now (Figure 2).
However, when you consider that the average depth of the drilling is only 42m, which is almost the average depth of weathering in the Eastern Goldfields, you are looking at almost virgin exploration territory. This is almost unheard of in 2023.
Get curious and DYOR...
There are questions one could be curious to ask. What was done before the last owners of the projects? Right now what we do know is that the previous owner did not drill deep and they did not look for anything else other than oxide gold ores. Had they done anything that could be a liability to the project?
Another point to find out is whether the previous owners of Golden Grove sterilised that patch of ground. Practically speaking, it would be an enormous task to do that for an acreage of that magnitude.
You may also wonder about the many targets that could emerge due to the size of the project. One would need a very constrained strategy to focus on potential targets. Then again, if it does come to pass that the geophysics swing towards the happy end, it would be a more positive problem of having so many choices and not knowing which one to focus on.
With so many potential prizes, interpretation could be a challenge, but perhaps a happy one.
For Noel, this is one journey he is keen to follow. Warriedar Resources has a good cash balance at this moment, and geophysics will play a big part with a lot of existing geochemistry to add to that strategy.
The biggest asset here is management. The people that lead this exploration need to understand the big picture and be commercial. The cost effectiveness of any exploration strategy is paramount. Ms. Buckingham has the right credentials to lead this type of exploration.
The projects will take centrestage. As has been said before many times, a combination of good projects and solid management is an attractive one for investors looking to safeguard their hard earned cash.
Tune in to Amanda Buckingham's conversation here with Noel Ong, CEO of Samso.
01:20 Who is Amanda Buckingham and Warriedar Resources Limited (ASX: WA8)?
02:48 Historical shallow drilling at Golden Range.
05:32 Golden Range and Fields Find projects strategically positioned.
09:10 Adopting the mineral systems model to determine the province fertility.
14:27 “Swiss cheese” drilling?
15:20 Major structures that added to project confidence.
18:03 Would using only geophysics hinder the progress?
21:26 What is special about the Fields Find project?
27:02 How should investors take in information from the announcements?
31:12 The Warriedar Resources Limited Board.
36:23 News flow
Hungry for more Brilliant investment stories? Check out more insights here.
About Amanda Buckingham
Dr Buckingham is a geophysicist who has been involved in mineral exploration for over 25 years. She co-founded Fathom Geophysics in late 2007, an award winning and industry leading geophysical consulting group based in USA and Australia that has developed the world's best technology for targeting under cover.
Dr Buckingham has extensive exploration experience globally. Her early career involved work as a geoscientist and project manager at majors such as Rio Tinto; as well as listed juniors in both Canada and Australia and several years consulting at SRK.
Dr Buckingham co-founded Cygnus Gold Limited [ASX: CY5] and Desert Minerals Limited [ASX: DM1]. She is currently a director of several private companies, and a research fellow at the University of Western Australia.
About Warriedar Resources Limited (ASX: WA8)
Warriedar Resources Limited (ASX: WA8) is an advanced gold and copper exploration business with an existing resource base of approximately 2 Moz gold across Western Australia and Nevada, and a robust pipeline of high-calibre drill targets. Our focus is on rapidly building our resource inventory though modern, innovative exploration. We are well funded for our planned aggressive drilling programs through 2023.
Golden Range and Fields Find Projects
Our Golden Range and Fields Find Projects in Western Australia sit in the middle of the highly active Murchison exploration and mining province, which hosts substantial deposits of both gold and base metals.
The world-class Golden Grove VMS camp sits just 3 km from our tenure boundary, with the host sequence for that cluster of deposits extending south onto our ground.
We believe that the opportunity presented by applying modern geophysical and exploration techniques to our tenure is enormous.
We are set to drill over 40,000 metres at Golden Range and Fields Find during 2023, targeting discovery of both gold and base metals mineralisation.
Contact Warriedar Resources Limited
Level 11, 216 St Georges Terrace Perth WA 6000
Principal place of business:
Level 3, 3-5 Bennett Street East Perth WA 6004
PO Box 920 Scarborough WA Australia 6019
t/: +61 8 9481 0389
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About the Author
Noel Ong, CEO of Samso tells compelling stories by engaging business leaders to reveal insights beneficial to the investment community.
Samso helps executives tell ASX stories that pique interest.
t/ +61 490 092 814
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