Yandal Resources Ltd (ASX:YRL) has hit grades of up to 4 metres at 42.67 g/t gold in shallow reverse circulation (RC) drilling at the Sims Find and Flinders Park prospects within the Barwidgee and Ironstone Well projects in WA’s highly prospective Yandal Greenstone Belt.
RC drilling has returned encouraging high-grade assay results from first pass composite sampling with the 4-metre intersection within 8 metres at 27.76 g/t from 12 metres at Sims Find.
Another high-grade result from Sims Find was 4 metres at 3.75 g/t within 36 metres at 0.56 g/t from 8 metres while strong results from Flinders Park include:
- 4 metres at 14.98 g/t within 12 metres at 5.46 g/t from 36 metres; and
- 4 metres at 14.22 g/t within 16 metres at 4.68 g/t from 44 metres.
Further composite and subsequent 1-metre follow-up sample results are pending from more than 6,600 metres of RC drilling completed across multiple prospects in the Yandal Belt.
Shares have been as much as 44% higher to 53.2 cents intra-day.
Potential to grow resource base
Yandal Resources’ managing director Lorry Hughes said: “These new results further demonstrate the potential to grow our resource base and the fact that the intercepts are from very shallow depths is particularly encouraging.
“At Sims Find visible gold was noted by the rig geologist and by the analytical laboratory during the assaying process.
“We will get the remaining 4-metre and subsequent 1-metre sample results and compile a detailed geological model to guide the next exploration and resource definition programs.
“At Flinders Park, there is potential that the new results represent a breakthrough in terms of defining the orientation of significant mineralisation.
“In 2019 drill programs some good grades were intersected in oxide material drilling on an east-west grid although continuity was poor.
“In this program, we returned to drilling on a northwest-southeast grid similar to the Flushing Meadows drill grid located around 5 kilometres to the northwest and generated consistent intercepts in holes YRLRC0473 and 474.
“I look forward to receiving the remainder of the pending results from all our Yandal Belt projects and then resuming aggressive aircore and RC programs as early as possible in 2021.”
Sims Find program
A total of 38 angled RC holes for 2,440 metres to a maximum depth of 102 metres were completed at Sims Find in the Barwidgee project along strike from and in areas adjacent to historic underground workings.
A number of highly significant intercepts were returned from the limited results received to date.
The drilling was completed over an approximate 400 metres interpreted strike length on sections 50 metres apart to evaluate the resource potential.
Visible gold was noted in the field by the supervising rig geologist from many of holes during drilling and by analytical laboratory staff during sample preparation activity.
Four-metre composite results from a further 29 RC holes are pending and expected to be returned next quarter 2021.
Flinders Park drilling
At Flinders Park in the Ironstone Well project, three angled RC holes for 198 metres were completed to test for new shallow oxide mineralisation within an area interpreted to be influenced by the regionally important Barwidgee Shear Zone.
All holes returned significant intercepts with the highest grades occurring in consecutive holes on the same section.
Next steps
Key exploration activities planned during the December and March quarters at the company’s Yandal Belt projects include:
- Receive remaining 4-metre composite results from 29 RC holes from the Sims Find prospect;
- Receive 4-metre composite results from 26 RC holes from the Mt McClure project prior to submitting 1-metre samples from anomalous intervals for fire assay; and
- Receive and assess results of a pit optimisation study at the Flushing Meadows prospect;
- Complete feasibility level metallurgical test-work on diamond core from Flushing Meadows; and
- Recommence aircore and RC drilling to expand existing resources.