Arika Resources Limited (ASX: ARI), a company focused on developing and discovering high-quality gold assets, including the Yundamindra Gold Project, has announced the commencement of a new Reverse Circulation (RC) drilling program at the Pennyweight Point prospect within its Yundamindra Gold Project. The project, 80% owned by Arika Resources and 20% by Nex Metals, is located near Leonora-Laverton in Western Australia. Recent Induced Polarisation (IP) geophysical surveys have refined and extended priority bedrock gold targets, providing a predictive framework for targeting extensions of known mineralisation.
The initial phase of drilling will focus on strike, plunge, and depth extensions to a series of recently reported high-grade results. These include notable intercepts such as 35.76m @ 2.14g/t Au from 104.27m down-hole, including 13.46m @ 5.28g/t Au from 111.40m, and 23.97m @ 2.54g/t Au from 162.03m down-hole, including 5.38m @ 10.62g/t Au from 170.52m. The second phase will involve high-impact drill testing of new high-priority ‘blind’ geophysical bedrock gold targets identified from the recent geophysical surveys immediately north and south of Pennyweight Point.
The third phase of the drilling program will focus on close-spaced orebody definition drilling at the Pennyweight Point deposit. This aims to confirm mineralisation controls and grade distribution to guide Maiden Resource Estimation modelling. The planned program will comprise approximately 5,000m of RC drilling, combining orebody definition with testing of new bedrock gold targets.
Managing Director Justin Barton stated the company is equipped with knowledge from recent geophysical programs, allowing for significant advances in understanding ore-hosting structures. He added that Pennyweight Point is shaping up as a primary focus for initial resource development at Yundamindra, alongside the Landed at Last prospect.
