- Initial exploration target of 7.9 to 14.5 million ounces silver defined
- Exploration target pertaining only to immediate vicinity of Keystone mine
- Recent 500% growth in company’s landholding in the area
- Phase two drilling permit application currently underway
Western Ridge Resources (ASX:WRX) is set to accelerate drilling at the Keystone project in Nevada after revealing an initial exploration target of 7.9 to 14.5 million ounces of silver for the historic Keystone mine.
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The target was developed on the back of recent fieldwork, known sampling values and level plan mapping.
“The delivery of the maiden exploration target is a significant outcome and reinforces our confidence in the development strategy at the Keystone project,” MD, Dr Matthew Cobb, said.
“Importantly, the exploration target range of 7.9 to 14.5 million ounces of silver is based only on work from the Keystone mine and its immediate surrounds.
“The northwest adit – only 400 metres away from the main Keystone mine, has demonstrated structure and mineralisation identical to that of the main mine and measurements of veining expressed at the surface in shallow workings correlates perfectly with similar measurements taken from within the adit itself, indicating continuity of the lode here – similar to the main mine.
“When considered in the context of the recent sampling results delivered across the broader Project area, this early-stage target and the fact that it encompasses only a small part of the newly expanded landholding, speaks to the substantial upside and potential scale of the wider Keystone project.
“We really are only just scratching the surface of this exciting area, and I’m looking forward to celebrating our ongoing exploration success as we soon commence the first drilling campaign over the area in more than 80 years.”
The Keystone project is located within the emerging Pershing Trend in Nevada and hosts numerous historical workings associated with tungsten, silver and gold mineralisation. Despite extensive historical mining activity, no modern drilling has been completed at the project for more than 80 years.
Recent expansion of the Keystone project increased Western Ridge’s landholding by approximately 500%, securing additional historical mining localities and strengthening the company’s regional footprint across the district.
Earlier this month Western Ridge reported that results from a sampling program at Keystone produced silver grades of 941 grams per tonne (g/t), 344 g/t, and 80.3 g/t, and gold up to 44.4 g/t.
Drill pad face sampling also confirmed presence of peripheral high-grade stringer veins adjacent to Keystone main lode, significantly increasing scale potential of mineralised system.
WRX was steady at 1.9¢ with a Mkt cap of $3.000M prior to markets opening.
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