OUTSTANDING HIGH-GRADE GOLD INTERSECTIONS AT PENNYWEIGHT POINT INCLUDE 30M @ 2.36 G/T AU

New assays reveal exceptional results at Yundamindra Gold Project

Arika Resources Limited (ASX:ARI) has announced further high-grade gold results from its ongoing drilling program at the Pennyweight Point prospect, part of the Yundamindra Gold Project. The latest assays from nine additional holes have confirmed significant mineralisation, with key highlights including:

30m @ 2.36 g/t Au from 64m (YMRC060)
23m @ 2.84 g/t Au from 53m (YMRC059)
13m @ 2.60 g/t Au from 82m (YMRC062)
7m @ 3.61 g/t Au from 60m (YMRC061)
11m @ 2.26 g/t Au from surface (YMRC059)

These results build on a previously reported high-grade intercept of 30m @ 3.86 g/t Au from 89m in hole YMRC069. The intersections extend mineralisation at depth and indicate potential for a large, high-grade gold system.

Assays from 11 holes have now been received, with assays for an additional 22 holes pending from ongoing drilling at Pennyweight Point and the nearby Landed at Last prospect.

Commenting on the results, Arika Managing Director Justin Barton said:

To follow up the initial high-grade intersection of 30m @ 3.86 g/t Au at Pennyweight Point with two further high-grade, thick intersections over 20m shows we are onto something quite significant. Momentum is rapidly building at our Yundamindra Gold project. Importantly these intersections extend the previously known mineralisation and expand the gold footprint in the area.

The Yundamindra Gold Project sits on a Mining Lease and is strategically located 65 kms southeast of Leonora, in close proximity to a number of mills and easily accessible by road. The shallow high-grade mineralisation is very encouraging with gold prices continuing to hit record highs, and the Company intends to follow up on these results and continue to demonstrate the scale potential at the Yundamindra Project.