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Western Ridge Resources (ASX: WRX) is preparing to launch its maiden drilling campaign at the Lady Alma gold project near Meekatharra in Western Australia, as it moves to expand its exploration portfolio through the proposed acquisition of the Murchison project.
The company has completed field preparations for a 24-hole reverse circulation (RC) drilling program scheduled to commence in the second half of November, immediately following completion of the acquisition.
Located within the Gabanintha Shear Zone, Lady Alma has historically been held by prospectors and is yet to undergo modern drill testing.
The inaugural program will comprise six drill traverses, with holes targeting a nominal depth of approximately 80m.
Drilling will investigate two north-northeast-trending structures identified through aeromagnetic interpretation, targeting the potential bedrock source of an extensive gold nugget field.
Western Ridge managing director Dr Matthew Cobb said completing preparations ahead of the acquisition would accelerate exploration.
“Completing the preparatory work ahead of the proposed acquisition allows the company to bring forward Lady Alma’s first drilling program by several weeks, with drilling expected to commence immediately following completion of the acquisition,” Cobb said.
The proposed Murchison acquisition will expand Western Ridge’s exposure to gold and antimony across three independent geological settings: Big Bell, Gabanintha and the Meekatharra corridor.
Each prospect has its own exploration targets and development timetable, providing multiple opportunities for discoveries without relying on the success of any single project.
The transaction has also been structured to limit upfront expenditure, with non-contingent consideration of $700,000 and remaining consideration payable in equity subject to share price, drilling or resource milestones.
Western Ridge has secured approved drilling Programs of Work across three of the four tenements, while the Jasper Star prospect is covered by a granted mining lease and an Aboriginal heritage agreement.
These arrangements provide a pathway to near-term exploration without significant additional permitting delays.
Despite the portfolio expansion, Western Ridge’s Keystone project in Nevada, United States, will remain its flagship asset.
Initial results from Keystone’s maiden drilling program are expected within two weeks, while two exploration programs are planned across the Murchison assets in November.
The staggered drilling and assay schedules could provide a sustained pipeline of exploration results across the company’s Australian and US projects.
With Lady Alma approaching its first modern drill test and the broader Murchison acquisition offering additional gold and antimony targets, Western Ridge is positioning itself for an active period of exploration while maintaining its focus on Keystone.
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