USD $4,111.97
Goldman High-grade intercepts returned in maiden diamond drillhole at Yundamindra Gold Project
Arika Resources Limited (ASX:ARI) has reported significant assay results from its first-ever diamond drillhole at the F1-Fault Prospect, part of the Yundamindra Gold JV Project in Western Australia. The results confirm the depth potential of the F1 structure, with strong gold mineralisation intersected well below previous drilling.
The maiden diamond hole, 25YMD003, was drilled 200m west of the ‘Main’ Landed at Last trend and intersected mineralisation 40m down-dip of the nearest historical drillhole. Key intercepts from the hole include:
- 14.80m @ 3.10g/t Au from 87m, including:
- 2.15m @ 5.49g/t Au from 90m, and
- 2.25m @ 9.76g/t Au from 99m
The F1 structure now demonstrates a strike length over 300m and extends to a depth of at least 80m down-dip. Arika noted that several other second-order faults—F2 and F3—remain untested despite associated historical workings.
The broader Yundamindra Project lies adjacent to the recently announced $44M Guyer JV between Iceni Gold (ASX: ICL) and Gold Road (ASX: GOR). It features the highly mineralised 16km-long ‘Yellow Brick Road’ corridor, which remains largely untested below 50m vertical depth.
Surface geochemistry has also identified multiple peak gold-in-soil anomalies well away from existing workings and drilling, presenting new priority targets. Drilling is set to recommence shortly, with further assays pending from Pennyweight Point.
Arika’s Managing Director, Justin Barton, said:
We are very encouraged by the assay results received from our first-ever diamond drilling into the F1-Fault Prospect at Landed at Last. Assays have returned a thick intercept of strong gold mineralisation including two high-grade intervals which have extended the known mineralisation at depth.
Obtaining diamond drill core is a very valuable asset for our technical team in order to advance our understanding of the host rock lithologies and identify key structural controls that host the mineralisation at the F1-Fault and broader Landed at Last prospect. This information will enhance our ability to target mineralised extensions along strike and at depth, as well as to help prioritise the vast pipeline of targets identified from the geophysics and geochemical reviews completed recently.
The F1-Fault – which remains open along strike and at depth and already extends over a strike length of 300m and to a depth of at least 80m down-dip – is a highly mineralised structure cross-cutting the Landed at Last lode. Two additional cross-cutting structures, the F2 and F3 Faults, have also been identified along the Landed at Last lode, which currently extends along strike for over 800m and depth of at least 150m. Both of these Faults remain untested, despite hosting significant historical workings.
Together with the remarkably shallow nature of historic drilling across the project, with very few holes drilled below 50m, this further enhances the potential we see across Yundamindra. We look forward to following up these results and re-commencing drilling shortly.
