KEY HIGHLIGHTS
The work has revealed that the vast majority of historical holes, which were completed in the 1980’s- 1990’s, were restricted to the near surface weathered zone and drill depths of less than 80m.
Arika’s Managing Director Justin Barton said:
“Having completed a highly successful maiden drilling program on three prospects at Yundamindra, that delivered outstanding results, we are excited to provide an update of our review and analysis of all historical data and our recent drilling results. Despite the project appearing to have seen extensive drilling, mainly in the 80s and 30s, analysis shows that ~37% of all historical holes were restricted to the weathered zone and drill depths of less than 80m, where drilling was essentially blade refusal (RAB/ aircore) targeting shallow high-grade oxide resources.
This presents an exciting opportunity for Arika as the mineralisation essentially remains unexplored at depth and along strike, providing a great opportunity for a significant further gold discovery outside of the shallow oxide as we chase the source of the mineralisation in the underlying bedrock and along strike.
As we continue to review all geological and geochemical data, we are also eager to recommence drilling, anticipated to re-start next week, as we begin to test the extensions to the Pennyweight Point and Landed at Last prospects”.
Review of results and historical datasets at Yundamindra
Arika’s recently completed drilling programs at Yundamindra, the first in over 10 years at the project, consisted of 77 reverse circulation (RC) drillholes (YMRC001-YMRC077) for a total metreage of approximately 6,000m5,6.
The primary objectives of this phase were to validate historical results and to test for bedrock hosted gold mineralisation beneath the shallow historical occurrences.
The objectives have been achieved, with each campaign delivering spectacular results, firmly establishing the potential for Yundamindra to host a significant gold deposit.
Results for all of the drilling completed to date were reported in the Company’s ASX announcements:
An analysis of our recent drilling results, in conjunctions with a review of all historical datasets has revealed that despite the known prospects at Yundamindra appearing to have been extensively drilled (Figure 1 below), further interrogation of the data reveals that ~97% of all drilling has been limited to weathered zones and depths of less than 80 metres (Figure 2).
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