Arika Resources Limited (ASX: ARI), an Australian company focused on developing high-quality gold assets, has announced significant new assay results from ongoing drilling at the Pennyweight Point prospect within its 80%-owned Yundamindra Gold Project in Western Australia. The results confirm the continuity of gold mineralisation along strike, down-dip, and down-plunge at Pennyweight Point.
Key highlights from the drilling include exceptional wide, high-grade gold intercepts, such as 21m @ 4.65g/t Au from 251m, including 6m @ 13.87g/t Au from 253m and 3m @ 19.39g/t Au from 258m. Mineralisation is now confirmed to extend from the surface over a strike length of 350m to a vertical depth of 250m and remains open. The company is accelerating RC drilling with a second rig.
Arika’s Managing Director, Justin Barton, expressed enthusiasm about the results, noting that the drilling has extended the known high-grade mineralisation both along strike and at depth. Barton stated that the results provide a great platform to move towards a maiden Mineral Resource Estimate. He also highlighted that drilling confirmed mineralisation to a vertical depth of 250 metres, with indications that the grade is increasing at depth, highlighting the potential for future underground mining.
RC drilling recommenced in early January and is continuing around the clock. The company is also awaiting assays from drilling completed at the F1-Fault and Landed at Last prospects. Shareholders can anticipate a period of strong news flow over the coming weeks and months, according to the Managing Director.
