Yandal Resources Ltd (ASX:YRL) has received encouraging 1-metre sample assay results from recent aircore (AC) drilling at Gordons Gold Project in the Kalgoorlie-Boulder region of WA which confirm bedrock reverse circulation (RC) drill targets.
One-metre assay results have been returned from re-sampling anomalous 4-metre composite intervals from AC drilling at the Gordons Dam, Star of Gordon and Mulgarrie Dam prospects.
Downhole intercepts include:
- 2 metres at 0.62 g/t from 49 metres (EOH);
- 3 metres at 0.50 g/t from 40 metres;
- 6 metres at 0.16 g/t from 52 metres (EOH);
- 4 metres at 0.22 g/t from 42 metres (EOH);
- 5 metres at 0.24 g/t from 57 metres (EOH); and
- 2 metres at 0.42 g/t from 68 metres (EOH).
A further 21 RC holes for 1,632 metres and 20 AC holes for 1,087 metres have been completed to confirm and extend this new mineralisation, with assay results pending.
“Confirmed significance of initial results”
Yandal Resources managing director Lorry Hughes said: “Assay results from 1-metre re-sampling of anomalous 4-metre intervals from AC drilling completed in May at Gordons Dam have confirmed the significance of the initial results.
“Intercepts of +0.5 g/t gold were returned from several bottom of drill hole samples where the limit of depth penetration of AC blade drilling into bedrock was reached.
“These results are similar to those previously drilled east of the palaeochannel mineralisation prior to the discovery of higher grades at depth with RC drilling.”
Location map of key prospects within the Gordons gold projects in relation to nearby third-party infrastructure and Gordons project tenure
Further AC drilling planned
A further 44 AC holes for 2,640 metres are planned to commence in early July to infill known mineralisation along a 700 metre-long southeast strike trend and will reduce the drill spacing to around 50 metres.
If successful, the program will provide better definition of bedrock drill targets for testing with RC and diamond drilling to 100-150 metres vertical depth.
Hughes said: “In addition to recently completed RC drilling to test the potential for both shallow palaeo-channel hosted and deeper bedrock hosted mineral resources, AC drilling to reduce the sample spacing over 700 metres of strike length to 50 metres or less will resume in early July.
“The mineralisation discovered to date is open in all directions and has elevated the Gordons Dam prospect to the highest priority greenfields target in the company’s portfolio.
Funding exploration
The company is aiming to raise to around $3.342 million in a pro-rata non-renounceable rights offer with funds to accelerate exploration.
There will be up to 13.369 million shares issued at 25 cents per share in the offer on the basis of one new share for every five shares.
Hughes said: “Most funds raised from the current entitlement issue will be directed to RC and diamond drilling at this emerging gold discovery.
“I look forward to providing information on our exploration programs at Gordons Dam over the next 12-18 months.”
September quarter
Key exploration activities planned during the September quarter include:
- Complete new AC drilling at Gordons Dam, receive and review pending results from June RC and AC drilling at Gordons Dam and commence new RC and diamond drilling; and
- Receive final 1-metre RC results and commence MRE update, new diamond drilling, geotechnical and hydrogeological studies at Flushing Meadows to support feasibility studies.