Yandal Resources Ltd has entered into a binding agreement with Horizon Minerals Ltd to sell its 100% interest in the Gordons Gold Project. The total consideration is A$2.81 million, comprising cash and Horizon shares.
Under the agreement, Horizon will pay Yandal an initial A$200,000 refundable cash deposit (already received), followed by A$1 million in cash on completion. In addition, Yandal will receive A$1.61 million in fully paid ordinary Horizon shares, which are not subject to escrow restrictions. Horizon retains the right, at its sole discretion, to pay the A$1.61 million in cash instead of issuing shares at completion.
The divestment supports Yandal’s strategy to focus on its core assets, and the company is well-capitalised to do so, with A$4.7 million in cash reported at June 30, 2025, enabling ongoing exploration at the Caladan and New England Granite target areas.
Yandal Resources’ gold project locations.
Further assay results from a 132-hole air-core drilling program at Caladan are expected in the coming weeks, as Yandal continues to evaluate regional gold potential.
“We are very pleased to have executed on the sale of one of our non-core assets. This sale will provide Yandal with additional cash to fund our very active exploration schedule for the second half of 2025 and well beyond,” Yandal Resources’ managing director, Chris Oorschot, said.
“The execution of this transaction comes as we await further results from the rapidly advancing Caladan target area, with results from the first 46 holes having already defined a possible 1.2-kilometre mineralised trend at Arrakis.”
Completion of sale remains subject to standard closing conditions, including receipt of all required regulatory and third-party approvals. The transaction is expected to complete during the current September quarter of 2025.
The sale aligns with Yandal Resources’ previously outlined strategy to divest non-core assets and sharpen its focus on exploration at the Ironstone Well–Barwidgee Gold Project in Western Australia.
Yandal expands Arrakis gold zone to over 1.2 kilometres at Caladan
Last week Yandal extended the strike length of the Arrakis mineralised structure within its Caladan target at the Ironstone Well-Barwidgee Gold Project, following the return of new assay results from its ongoing air-core (AC) drilling program.
The latest assays have pushed the mineralised trend a further 400 metres to more than 1.2 kilometres, with the structure remaining open to the northwest and southeast — indicating strong potential for further extensions.
This second batch of assays comes from Yandal’s 132-hole, 13,458-metre AC drilling program and returned notable gold intercepts, including:
- 11 metres at 1.4 grams per tonne (g/t) gold from 71 metres, including 6 metres at 2.3 g/t from 72 metres (hole 25IWBAC044), and
- 1 metre at 1.0 g/t gold from 87 metres to end-of-hole in the same hole.
These latest results complement earlier reported mineralisation such as:
- 11 metres at 2.1 g/t from 90 metres, and
- 12 metres at 1.1 g/t from 45 metres,
highlighting the growing scale and discovery potential at the Caladan prospect.