Arika Resources Limited (ASX:ARI) Re-commences Drilling at Yundamindra
Drilling Resumption
Phase 2 drilling has officially resumed at the Pennyweight Point prospect within Arika Resources Limited’s Yundamindra Gold Project in Western Australia. This follows a short break over the holiday season.
Prior to the pause, Arika completed 11 holes totalling approximately 1,350 metres. Assays from these samples are expected in the coming weeks. The drilling strategy focuses on testing both depth and strike extensions of previously reported high-grade gold results.
Gold Intercepts and Results
Notable previous results from Arika’s maiden drilling campaign include:
– 14m at 15.48 g/t Au from 46m
– 30m at 3.86 g/t Au from 64m
– 33m at 3.35 g/t Au from 22m
Recent geophysical studies confirm that the Pennyweight Point is within a structural corridor extending more than 4km, primarily untested for gold deposits.
Future Plans
Arika is implementing a Reverse Circulation Drilling program comprising around 6,000 metres. The focus will initially be on Pennyweight Point before moving to additional prospects in the region.
In parallel with the Yundamindra project, Arika has commenced a detailed geological review of its Kookynie Gold Project, which will inform upcoming drilling plans as soon as regulatory approvals are secured.
Executive Insights
Justin Barton, Managing Director of Arika, stated, “We are excited to have re-commenced Phase 2 drilling at Pennyweight Point following a successful start to the campaign prior to Christmas.” Barton emphasised the vast potential of the Yundamindra Project, citing that much of the area remains largely untested.
The company anticipates strong news flow from both Yundamindra and Kookynie projects in the upcoming months.
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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