Arika Resources Limited (ASX: ARI), focused on developing and discovering high-quality gold assets in Western Australia, has reported exceptional assay results from drilling at the Pennyweight Point prospect within its 80%-owned Yundamindra Gold Project. The Yundamindra Gold Project is located 65km south-west of Laverton, in the Northeastern Goldfields mining district. Standout results confirm the continuity of gold mineralisation along strike, down-dip, and down-plunge at Pennyweight Point.
Key intercepts include 21m @ 4.65g/t Au from 251m, including high-grade zones of 16m @ 6.04g/t Au from 252m and 3m @ 19.39g/t Au from 258m. Additional significant results feature 16m @ 2.94g/t Au from 12m and 35m @ 1.22g/t Au from 142m. These results build on previous successful drilling campaigns at Pennyweight Point.
Arika’s Managing Director, Justin Barton, expressed enthusiasm for the results, highlighting that the drilling has extended the known high-grade mineralisation both along strike and at depth. Barton stated that this provides a great platform for the company to move towards a maiden Mineral Resource Estimate. Mineralisation now extends from surface over a 350m strike length to a 250m vertical depth, remaining open.
RC drilling has recommenced in early January and will be accelerated with a second rig to be added shortly. The company is also awaiting assays from drilling completed at the F1-Fault and Landed at Last prospects. Shareholders can anticipate a steady flow of news in the coming weeks and months as drilling continues aggressively at Pennyweight Point.
