Western Ridge Sets 7.9 to 14.5 Million Ounce Silver Target at Keystone Mine

Significant Silver Potential Defined at Keystone Mine

Western Ridge Resources Limited (ASX:WRX) has announced a maiden Exploration Target for its Keystone Mine in Nevada, estimating between 7.9 million and 14.5 million ounces of silver. This initial target is based on recent fieldwork, sampling, geological mapping, and historic data integration, but it pertains solely to the immediate vicinity of the mine, leaving substantial upside potential across the broader project area.

The Keystone Project, located in northern Nevada's Pershing and Humboldt counties, has not seen modern drilling for over eight decades. Western Ridge’s recent 500% expansion of its landholding in the district adds nearly 5,000 additional acres, encompassing multiple historic workings and enhancing the project's scale and exploration upside.

Robust Geological Model Supports Exploration Target

The Exploration Target was derived from a 3D geological model incorporating structural and lithological mapping, recent high-grade sampling assays, geophysical survey data, and historic ore shipment records dating back to the 1940s. The model identifies three main vein orientations hosting silver mineralisation, consistent with epithermal, hydrothermal processes related to Cretaceous granodioritic intrusions into Triassic sediments.

Sampling techniques involved rock chips and dump samples collected from underground adits and surface workings, analysed by ALS Laboratories in Reno using multi-element ICP-AES and fire assay methods. Assay results showed significant silver grades, with veins demonstrating continuity between surface and underground exposures, notably in the northwest adit located just 400 metres from the main mine workings.

Upcoming Drilling Campaign to Test and Expand Target

Western Ridge is currently applying for Phase 2 drilling permits, aiming to commence a reverse circulation drilling campaign in September 2026. This program will be the first at Keystone in more than 80 years and is designed to test the strike extent, depth, and width of the main mineralised zones, including newly identified targets within the expanded landholding.

Managing Director Dr Matthew Cobb emphasised the significance of the Exploration Target, noting that it is confined to a small portion of the project and that the consistent geological and mineralisation characteristics between the main mine and adjacent adits offer confidence in continuity. He highlighted the potential scale of the Keystone Project and the systematic approach Western Ridge is taking to unlock its value.

Exploration Target Remains Conceptual Under JORC Code

Western Ridge cautions that the Exploration Target is conceptual and does not yet meet the criteria of a Mineral Resource under the JORC Code (2012 Edition). Insufficient work has been completed to estimate a Mineral Resource, and it remains uncertain whether further exploration will confirm the target’s tonnage and grade. Investors should note this distinction as drilling results and further analysis become available.