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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“Thanks to the outstanding efforts of Lorry and the team we have a strong pipeline of projects ranging from early-stage targets through to the definition of initial resources," new MD and CEO Tim Kennedy said.
“With these results, the Malone prospect remains a high priority exploration target within the Gordons Gold Project in terms of its potential size and grade at depth,” says MD.
“The extent of the mineralisation is unknown at this stage with large areas nearby considered untested," said MD.
“The Board would like to thank Lorry for his outstanding efforts in acquiring and driving the project portfolio of Yandal. The successful definition of new highly significant mineralisation at several prospects ensures the Company has a sol
“Yandal is targeting 100,000-120,000 metres of drilling in 2022 and I look forward to building on the successes of last year to rapidly expand the mineral resource base,” says MD.
“The board is very pleased with the high level of financial support received from existing shareholders taking up their rights to strengthen our cash balance going into 2022,” says MD.
The result is considered highly significant as it demonstrates the potential for high-grade mineralisation to extend for more than 250 metres down dip from the surface.
The company’s strategy is to aggressively explore a number of highly prospective areas with the aim of making multi-million-ounce gold discoveries.
“The delineation of the Newport anomaly so close to the Flushing Meadows resource affirms our strategy of conducting thorough drill testing in prospective areas where historic reconnaissance drilling was too shallow to be effective," says M
Two of the acquisition tenements are contiguous with the Star of Gordon prospect and effectively doubles the available strike length for exploration to ~4 kilometres within the highly prospective Gordon-Sirdar gold mine corridor.
Drilling will continue at the Gordons Dam and Star of Gordons prospects until drilling results are received from the Malone, Andrews and Bradman prospects in order to evaluate and prioritise new drilling targets.
Preparation has commenced for a detailed drone magnetic survey over a 7-kilometre by 4-kilometre area to assist with new target generation ahead of follow-up RC drilling.
Results are pending from 160 aircore, more than 55 reverse circulation and two diamond holes.
The company’s exploration has ramped up with the start of diamond drilling, further increasing the rigs in operation at the Malone and Gordons Dam prospects to four.
According to the company, the tenement swap makes good sense as the ground obtained could host strike and depth extensions to gold mineralisation at its Malone Prospect to the immediate south.
The prominent gold sector investor has secured an additional 6.6 million shares at 48 cents each to boost its holding in Yandal by 5.64%.
During the June Quarter, the company transitioned its priority one focus towards exploration activities at the Gordons Dam and adjacent Malone prospects.
The company’s main focus in the near-term is to accelerate drilling at Gordons Dam, with four rigs set to be operational in July at the prospect.
Planning and preparation for follow-up RC drilling to test for mineralisation at 100-150 metres depth is underway.
The company considers the Star of Gordon prospect to be a high-priority exploration target.
