Arika Resources Limited (ASX:ARI) Expands Drilling at Yundamindra
Drilling Program Overview
Phase 2 drilling has commenced at the Pennyweight Point prospect, part of Arika Resources Limited’s (ASX:ARI) Yundamindra Gold Project. This phase aims to test depth and strike extensions following a successful maiden drilling campaign that returned impressive results, including significant gold intercepts. The current drilling program is expected to cover approximately 6,000 metres of Reverse Circulation Drilling (RC) at the Pennyweight Point, Landed at Last, and Bonaparte prospects.
Notable Gold Intercepts
Recent drilling results highlight the prospect’s significant gold mineralisation, with high grades reported over a 150-metre strike length and a depth of 150 metres. Highlights include 14 metres at 15.48 g/t Au and 30 metres at 3.86 g/t Au. CEO Justin Barton expressed excitement about the potential at Pennyweight Point, where extensions to mineralisation are still open in all directions.
Future Exploration Plans
Arika is committed to completing as much of the program as possible before the end of the 2024 field season. A short break for the Christmas period is planned, with drilling expected to resume in January 2025. The team aims to evaluate over 25 high-priority targets identified from recent data filtering technology applied to geophysical datasets, further enhancing exploration efforts.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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