Western Ridge Advances Keystone with Maiden Drilling and High-Grade Silver-Gold Hits
Western Ridge Resources has kicked off modern exploration at its Keystone Project in Nevada, expanding its landholding fivefold and reporting impressive high-grade silver and gold assay results ahead of a maiden drilling campaign.
- Maiden 19-hole drilling program set for early September
- Keystone landholding expanded by ~500% to ~4,960 acres
- High-grade sampling returns silver up to 941 g/t and gold up to 44.4 g/t
- Initial Exploration Target of 7.9 to 14.5 million ounces silver defined
- Cash balance at quarter-end $408,000 with $423,000 spent on exploration
Keystone Project Enters New Exploration Era
Western Ridge Resources (ASX:WRX) is gearing up for its first modern drilling campaign at the historic Keystone Project in Nevada, a site dormant for more than 80 years. The company confirmed a 19-hole reverse circulation program scheduled for early September, designed to test high-grade extensions of the main mine lode and priority targets identified through extensive recent fieldwork.
This maiden drilling marks a significant milestone following the completion of exploration earthworks and the staking of an additional 248 Lode Claims, expanding Western Ridge’s landholding by nearly 500% to approximately 4,960 acres. The enlarged footprint secures multiple historic mining localities and positions the company dominantly within an emerging mineralised trend prospective for tungsten, silver, and gold.
High-Grade Sampling Extends Mineralisation Footprint
Post-quarter sampling results have reinforced the project's potential, with rock chip assays returning striking silver grades of 941 g/t, 344 g/t, and 80.3 g/t, alongside gold up to 44.4 g/t. These results validate the company’s geophysical targets and suggest a widespread mineralised system extending beyond the historical Keystone Mine.
Sampling from historic underground workings at both Keystone and the Marble Rock Prospect, part of the expanded landholding, uncovered sulphide mineralisation including sphalerite, tetrahedrite, galena, and native silver. Notably, a 3.3 kg sample from a stringer vein adjacent to the main lode returned 344 g/t silver and 0.53 g/t gold, highlighting a mineralised halo around the primary vein system.
Exploration Target and Future Drilling Plans
Western Ridge has defined an initial Exploration Target of 7.9 to 14.5 million ounces of silver based on geological mapping, historic data, recent sampling, and geophysical surveys. This target encompasses the Keystone Main Lode, its periphery, and the Northwest Adit area, although the company cautions that these figures are conceptual and not yet classified as a Mineral Resource under the JORC Code.
Following the maiden drilling, a second phase is planned within the next 12 months to test strike extensions and the Northwest Adit target, pending permitting. The upcoming program is expected to take two to three weeks, with assay results anticipated four to six weeks after sample submission.
Financial Position and Operational Focus
During the quarter, Western Ridge spent $423,000 on exploration activities including geological consulting, metallurgical work, and tenement management. The company ended the period with $408,000 in cash, reflecting ongoing investment in the Keystone Project. No exploration activities were reported for the company’s Equador Niobium Project in Brazil during this quarter.
Managing Director Dr Matthew Cobb highlighted the company’s momentum despite a delayed drilling start due to contractor availability, emphasising the importance of the land expansion and encouraging sampling results in building confidence ahead of the drilling campaign.
Bottom Line?
Western Ridge’s Keystone Project is poised for a critical test with maiden drilling imminent, but its cash runway under one quarter underscores the need for timely funding to sustain exploration momentum.
Questions in the middle?
- Will the upcoming drilling confirm and expand the high-grade silver and gold mineralisation indicated by surface sampling?
- How will Western Ridge manage its funding needs given the current cash balance and exploration expenditure rate?
- What impact will the expanded landholding have on the scale and economics of the Keystone Project if exploration targets materialise?
