Arika Resources Limited (ASX:ARI) Commences Diamond Drilling at Yundamindra
Diamond Drilling Program Initiated
Arika Resources Limited (ASX:ARI) has commenced a targeted Diamond Drilling (DD) program at its Yundamindra Gold Project in the Laverton District, Western Australia. The initial phase includes three holes totaling approximately 500 meters, building on the completed Phase 2 expansional RC program which involved around 5,000 meters of drilling at the Pennyweight Point and Landed at Last Prospects.
Recent Drilling Successes
The new drilling initiative follows outstanding results from Arika’s maiden drilling campaign, which reported several significant gold intercepts, including 14m @ 15.48 g/t Au from 46m and 30m @ 3.86 g/t Au from 64m. These results underscore the potential of the Yundamindra project, characterized by a structurally complex bimodal mafic/felsic volcanic sequence and intrusive granitic interactions, a geological setting typical of major multi-million ounce gold deposits in the region.
Geological Insights
The Yundamindra Gold Project is situated 65km southwest of Laverton in the NE Goldfields WA. The ongoing Diamond Drilling aims to enhance the understanding of the geological and structural controls of mineralisation, supporting the expansion of known mineralisation and the exploration of new high-priority targets within the project area. Assay results from the Phase 2 RC program are expected shortly, providing further guidance for future explorations.
Executive Comments
Managing Director Justin Barton commented, “This is an exciting next step for the Company as we look to accelerate our understanding of the rapidly emerging gold footprint at Yundamindra. This Diamond Drilling program is designed to provide valuable insight into the controls on mineralisation at the Pennyweight Point and the Landed at Last prospects, that in conjunction with the pending results from the recently completed RC program, will help broaden our understanding of the area and provide further guidance in expansional drilling and testing of the growing pipeline of new targets emerging at Yundamindra. The incredible work that our technical team continues to undertake, in a systematic and methodical manner, has delivered some outstanding results to date and is swiftly increasing the gold footprint in this area and has the Company well advanced on the path to a potential major gold discovery being made at the Yundamindra Project. We eagerly await the assays from the recent RC program, which are due shortly, and look forward to delivering strong news flow from this exciting project.”
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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