Arika Resources Limited (ASX: ARI), focused on delivering value to shareholders through the development and discovery of high-quality gold assets, has announced promising assay results from its ongoing drilling program at the Yundamindra Gold JV Project in Western Australia. The Yundamindra Gold JV Project is located 65km south-west of Laverton, 250km north of Kalgoorlie, Western Australia. The latest results stem from first-pass reconnaissance drilling of new geophysical targets south of Pennyweight Point, part of the emerging ‘Red Brick Road’ corridor.
The drilling program, which included over 16,000 metres of Reverse Circulation (RC) drilling to date, targeted depth and strike extensions of known gold occurrences and newly defined targets. Key highlights include an intercept of 4 metres at 9.21 grams per tonne (g/t) of gold from 48 metres, including a high-grade interval of 1 metre at 35.30 g/t gold. Additional significant intercepts were also reported, further validating Arika’s targeting approach in the area.
Arika’s Managing Director, Justin Barton, expressed enthusiasm about the results, stating they confirm the potential of the eastern Pennyweight Point structural corridor to host significant gold mineralisation beyond known occurrences. He highlighted the similarity in rock types to those hosting mineralisation at Pennyweight Point, making the ‘Red Brick Road’ a large and exciting exploration opportunity. Expansional drilling is underway at Pennyweight Point itself to test for down-plunge extensions, while assays are awaited for 40 additional holes.
Looking ahead, Arika plans close-spaced deposit definition sectional drilling at Pennyweight Point and continued testing of new targets along the Red Brick Road trend. The company will release results continuously as data is received and interpreted, aiming to further define the resource potential of the Yundamindra Gold Project.