Yandal Resources uncovers new shallow gold mineralisation outside Flushing Meadows resource
Broad oxide intercept points to growth potential beyond 268,000-ounce gold resource
Company
ASX:YRL
Yandal Resources Ltd has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia.
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Broad oxide intercept points to growth potential beyond 268,000-ounce gold resource
Building over the solid exploration activities, the company plans to complete a 20,000 metres of combined aircore and reverse circulation drilling across the Gordons project along with a maiden mineral resource estimate for Gordons Dam.
“This RC program has confirmed the potential of HMS Sulphur and Gilmore, which can now also be included in future drilling programs designed to enable a resource upgrade at Mt McClure," said MD Tim Kennedy.
“We’re pleased to be commencing this initial drilling program, to be built upon by additional programs in the new year which together will help unlock the value of this highly mineralised tenure," said MD Tim Kennedy.
The company has been strongly supported in its $2.3 million placement, while also enjoying firm commitments from existing shareholders and MST Financial Services Pty Ltd, the lead manager, for a further $2.7 million in a non-renounceable ri
“This survey will assist us in delineating the orientation and extent of the host lithology and demagnetised zones which will then guide future rounds of drilling," said MD Tim Kennedy.
Yandal managing director Tim Kennedy said: “We are very much looking forward to our next round of drilling which will test the expansion potential at each deposit as we continue the process of unlocking the inherent value of the Mt McClure
The initial mineral resource estimate at the Success deposit takes Mt McClure resources to 119,000 ounces and Yandal’s overall inventory to 387,000 ounces.
Historical data as well as results from 783 reverse circulation (RC) and two diamond drill (DD) holes were used to compile the August 2022 estimate reported above 1.0 g/t gold lower cut-off grade.
“The Ironstone Well and Barwidgee projects host several exciting targets including the Cash prospect which is immediately along strike from Northern Star’s Corboys deposit, so we are very much looking forward to accelerating our exploration
“We are eager to get this program underway and believe there is a great deal of potential to make new gold discoveries and expand the existing resource base in what is a proven gold mining region," MD Tim Kennedy said.
“We are very pleased with these final assays from drilling at Gordons, as they clearly highlight the high-grade quality and potential scale of our targets within the Gordons Gold Project,” MD Tim Kennedy said.
“The recently completed diamond and RC drilling programs were the next step in understanding the controls of mineralisation and potential extent of the system. We look forward to receiving the results of these programs over the next couple
“We look forward to stepping out along strike with the RC rig to test the extent of high-grade mineralisation," says managing director Tim Kennedy.
“At the key Success, Parmelia and Challenger open pits we have confirmed the mineralised envelopes are predictable, continue to considerable depths and remain open beneath 250 metres,” says MD Tim Kennedy.
"We look forward to completing this initial diamond program and then testing the extents of mineralisation with a more comprehensive RC program," says MD.