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A VMS Project In the Making - Warriedar Resources Limited (ASX:WA8)

Coffee with Samso Episode 171 is with Amanda Buckingham, Managing Director and CEO of Warriedar Resources Limited (ASX: WA8).

What a pleasant surprise to come across such a great story. I reached out to Amanda late last year and today we finally completed this Coffee with Samso. Amanda told me that the company was finalising an acquisition which will make Warriedar a compelling story. She was right.

The Warriedar story is about is about a project with limited deep drilling and a previous focus on gold only. The location of the project is one has to be envied, adjacent to one of the most economical Volcanogenic Massive Sulphide (VMS) producing mines in Australia. It is also in an area well known for base metal (copper) mineralisation.

Warriedar Resources Limited (ASX: WA8)

Warriedar Resources was once Anova Metals Limited. The name change came about with the acquisition of the Murchison projects, Golden Range and Fields Find (Figure 1). When I came across the company, they were in the transition period. The acquisition of the new projects definitely makes the company more interesting, for me anyway.

Why do I like the Warriedar Story?

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.

The above statement is what I like about the projects. It is very hard these days to come across a story where it almost sounds too good to be true. Taking what I have been told at face value, this is a project that has hardly had any real work. It is believable that the previous owners just wanted cashflow. To achieve an assured cashflow model, one has to ignore everything else.

The drilling distribution for the Golden Range and Fields Find projects. | Warriedar | Samso

Figure 2: The drilling distribution for the Golden Range and Fields Find projects.

When you look at the amount of drilling (more than 30,000 drill holes) that has been done, you would be correct in thinking that this has been drilled like Swiss cheese (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. These kinds of statements were thrown out with the bathwater almost twenty years ago.

What's the catch?

The main unknown for me, and that is just a lack of research on my part, is what was done before the last owners of the projects. We know that the previous owner did not drill deep, they did not look for anything else other than oxide gold ores, but what else did they do that could be a liability to the project?

What I don't know is whether the previous owners of Golden Grove sterilised this patch of ground. That would be a bad thing if that was the case. However, this is a big patch of ground and it would be an enormous task for any company to sterilise an acreage of this magnitude. There is a strike of 70km (Figure 2) so it would be interesting to see if that would have been done back in the day.

The other issue is that there could be too many targets due to the size of the project. You would want to have a very constrained strategy to focus on potential targets. If this place lights up with the geophysics, it would be a case of a child in a lolly shop. Which one do you go after?

Having so many potential prizes, it would make interpretation difficult. It is one of those good problems to have with so many possibilities.

Samso Conclusion

This is an exciting company. All in all, I am eager to follow the Warriedar Resources journey. The company has a good cash balance as we speak, and Amanda has the right credentials to lead this type of exploration. Geophysics will play a big part and there is a lot of existing geochemistry to add to that strategy.

The biggest asset I see 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. Who better to understand that than someone who has her own consultancy business?

Undeniably, the projects will take centrestage. We have discussed the reasons why. A combination of good projects and solid management is all investors can ask for to safeguard their hard earned cash.


00:00 Start

00:20 Introduction

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

38:26 Conclusion


This is a good time to download the first Ebook (FREE) from Samso as it is all about VMS (Volcanogenic Massive Sulfides).


About Amanda Buckingham

Managing Director

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.

Projects of Warriedar | Samso

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.



The information or opinions provided herein do not constitute investment advice, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not take into consideration, nor have any regard to your specific investment objectives, financial situation, risk profile, tax position and particular, or unique needs and constraints. Read full Disclaimer.

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