Arika Resources Limited (ASX:ARI) Discovers 4.5km of Gold-Bearing Quartz Reefs at Yundamindra
Discovery Highlights
Arika Resources Limited (ASX:ARI) has identified over 4.5km of gold-bearing quartz reef structures at Banjo’s Camp, Southern Corridor, Yundamindra. The final rock chip sampling program returned high-grade results, including up to 5.3g/t Au in a 10m horizontal width channel sample. Approximately 50% of the 47 samples taken showed highly anomalous gold content.
Project Overview
The Yundamindra Gold Project, situated 65km southwest of Laverton in Western Australia’s world-class eastern goldfields, features structurally complex geology. Arika’s geophysical consultants, Core Geophysics, identified several high-priority structural targets within the Yundamindra synform. Mapping revealed large parallel E-W trending quartz reefs up to 20m wide, extending over a combined strike length of at least 4.5km.
Executive Comments
Managing Director Justin Barton stated, “The identification of these large-scale gold-bearing quartz structures is another step change at the rapidly emerging Yundamindra Gold Project and is further reward for the outstanding work that our technical team is undertaking. The scale of the gold footprint that is emerging at this project is now very substantial and we are enhancing the potential of a significant gold discovery being made by the day.”
Future Plans
Drill testing of priority targets at Banjo’s Camp will commence upon receiving regulatory approvals. Additionally, assays from the recently completed ~5,000m RC drilling program at Pennyweight Point and Landed at Last Prospects are expected in the coming weeks, further advancing the project’s exploration pipeline.
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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