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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The company has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia.
The placement was supported by two large gold investors and funds raised will be used in exploration across Yandal's suite of gold projects in Western Australia.
Aircore and diamond drilling programs for a total of 10,500 metres are set to continue through the December quarter at Gordons Dam and other regional prospects.
Aircore and diamond drilling programs for a total of 10,500 metres are set to continue through the December quarter at Gordons Dam and other regional prospects.
The feasibility study, mining proposal and mine closure plan contemplate the construction of a conventional open pit mining operation with road haulage to third-party processing facilities.
The company plans a 10,000-metre reconnaissance aircore program at Gordons Dam and the testing of other high-priority targets in mid-September.
Substantial oxide and primary gold assays have been returned from individual 1-metre samples from RC drilling completed in June 2020.
The board of directors have been greatly encouraged with the high level of financial support from existing shareholders to rapidly advance the company’s gold portfolio.
The company is well funded to explore its portfolio of highly prospective gold projects located in the Yandal and Norseman-Wiluna Greenstone Belts in Western Australia.
The company directors announced on June 12 a plan to raise up to $3,342,399 by a pro-rata non-renounceable rights offer to accelerate the Gordon’s and Mt McClure projects in WA.
The company directors announced on June 12 a plan to raise up to $3,342,399 by a pro-rata non-renounceable rights offer to accelerate the Gordon’s project as well as the Mt McClure project in Western Australia.
Flushing Meadows is within the Ironstone Well gold project is in the highly prospective Yandal Greenstone Belt in Western Australia and 60 kilometres southeast of Wiluna.
The company considers the results highly encouraging as they represent a high-priority exploration target for ongoing follow-up to assess the potential to define new resources.
The drilling results will be used to upgrade the initial mineral resource estimate and planned feasibility study.
Funds raised will be used to accelerate exploration at the Gordon's Project as well as the Mt McClure Project, for working capital and to meet offer expenses.
Recent drilling results received at Flushing Meadows will support an updated mineral resource estimate planned for the September quarter.
The results are expected to support an updated mineral resource estimate planned for the September quarter.
The drilling is designed as an immediate follow-up to the strong results returned from drilling in April/May.
In a June update CEO Lorry Hughes said the company was looking forward to providing exciting information from further exploration and mining development activities.
Maximus has a royalty capped at $4 million over the WA project which has a 190,000-ounce resource that is set to grow.
