Yandal Resources (ASX:YRL) has this morning confirmed a new gold discovery at its Arrakis Prospect at the Ironstone Well-Barwidgee Gold Project, with intercepts indicating “significant” fresh rock mineralisation.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
The explorer has been running a reverse circulation drilling program at the Western Australian target for some weeks, and just had results returned.
The standout result in the bundle came from “25IWBRC0040,” which returned 54 metres at 1.2 grams per tonne gold from 108 metres to end-of-hole, including 24 metres at 2.1g/t gold (and a higher grade interval of 8m at 4.7g/t).
Yandal noted in the release – which drew a +37% pop in share price for the company at Monday’s open – that these first RC results “confirm primary mineralisation within fresh rock and demonstrate down-dip continuity.”
“In a region where gold remobilisation within the regolith profile is common and complex, fresh rock tests represent a significant milestone in de-risking and progressing exploration targets,” Yandal’s managing director, Chris Oorschot, explained.
“These results demonstrate significant primary fresh rock mineralisation, confirming the discovery of a new mineralised system at Arrakis and the capacity for this system to be large in scale. Well done to the Yandal team.”
The Australian company will now be eagerly awaiting the rest of the results from the RC program run at the site through August and September.
While Yandal’s teams await those hits back from the labs, focus turns to follow-up work, including diamond drilling to extend 25IWBRC0041 and additional RC exploration along the strike to both north and south.
Near-term plans also include a second heritage survey at Arrakis – HotCopper understands this will be run into late September or early October – and the mobilisation of a diamond drill rig through October.
Yandal is also selling a tenement at the Gordons Gold Project as it heads towards the end of the year; that flip will net the company $2.81 million in cash and shares.
YRL shares are selling at 22 cents each this morning.
Join the discussion: See what HotCopper users are saying about Yandal Resources Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please clickhere.