Arika Resources Limited (ASX: ARI) has announced the commencement of a new phase of Reverse Circulation (RC) drilling at the Pennyweight Point prospect within its Yundamindra Gold Project, located in Western Australia. Arika Resources is focused on delivering value to shareholders through the development and discovery of high-quality gold assets, including the Kookynie and Yundamindra Gold Projects, in Western Australia. The drilling program aims to extend known high-grade gold mineralisation and test new, high-priority ‘blind’ geophysical bedrock gold targets identified through recent Induced Polarisation (IP) geophysical surveys.
The initial phase of drilling will focus on extending the strike, plunge, and depth of previously reported high-grade gold results. These results include intercepts such as 35.76 metres at 2.14 grams per tonne (g/t) gold from 104.27m down-hole and 23.97m @ 2.54g/t Au from 162.03m down-hole. The second phase involves high-impact drill testing of new geophysical bedrock gold targets located north and south of Pennyweight Point. The third phase will concentrate on close-spaced orebody definition drilling to refine mineralisation controls and grade distribution for a maiden resource estimation modelling.
The company recently completed IP geophysical surveys over the Pennyweight Point deposit and surrounding area. These surveys, combined with previously reported airborne magnetic and ground gravity survey results, have refined existing targets and provided a predictive framework for locating extensions and repetitions of known mineralisation. According to Arika, using a combination of fit-for-purpose geophysical techniques is proving to be a powerful tool for mapping buried basement geology and structure.
Arika’s Managing Director, Justin Barton, commented on the new drilling phase, stating that the company is excited to return to Pennyweight Point with enhanced knowledge gained from recent geophysical programs. Barton highlighted that Pennyweight Point is emerging as a primary focus for initial resource development at Yundamindra and the drilling will comprise approximately 5,000m of RC drilling.
