Arika Resources discovers new gold lode at Yundamindra

• ARI makes new gold lode discovery at Yundamindra project in WA
• Project close to two large producing mines in prolific gold belt
• Landed at Last discovery keeps growing in size as assays come in

Special Report: Arika Resources has discovered a new wide gold lode at the Landed at Last prospect of the Yundamindra JV project in WA.

The project sits in the Laverton Greenstone Belt, one of the best endowed gold regions in Australia and close to two world-class producing mines, Sunrise Dam at 8Moz contained gold and Wallaby at 7Moz.

To date, 100 holes for 12,000 metres have been completed as part of the drilling program, with assays pending for 40 holes or 5,000 metres.

The goal was to test and define the depth and strike extents of the multiple known gold occurrences and newly defined targets throughout the Yundamindra and Kookynie project areas.

The F0 prospect discovery at Landed at Last is a recently identified structure 120m south of, and parallel to, the previously identified F1 Fault, where recent drilling delivered a series of strong intersections.

Notable new assays at the discovery include 15m at 1.67g/t Au from 56m, including 8m at 2.74g/t from 57m and 2m at 8.53g/t from 63m.

Arika Resources (ASX:ARI) says the discovery adds to a growing number of mineralised structures which cross-cut the Landed at Last Lode in the Western Corridor at Yundamindra, towards the northern end of the ‘Yellow Brick Road’ – a 16km+ long structural corridor with numerous high-grade historical workings.

The drilling also confirmed depth extensions at the nearby Queen of Poland and Banjo’s Camp prospects.

Notable Queen of Poland intersections include:

• 29m at 1.02g/t Au from 35m, including 4m at 3.07g/t from 48m; and 2m at 5.08g/t from 59m; and
• 12m at 1.34g/t Au from 8m, including 4m at 3.18g/t from 16m.

Watch more from ARI: Bonanza gold grades grow scale of Landed at Last

Discovery keeps getting bigger and bigger

Drilling continues at Yundamindra, testing multiple, high-grade gold targets along the ‘Yellow Brick Road’ (Western Corridor), the Eastern Corridor and the South-Central complex.

In addition, Induced Polarisation (IP) geophysical surveys are set to begin shortly at the Pennyweight Point prospect.

“The new discovery at F0 is an exciting development in our ongoing drilling campaign at Yundamindra and highlights the exceptional opportunity for new discoveries to be made across the project,” ARI managing director Justin Barton said.

“Importantly, the Landed at Last-F1 gold system has considerable scale and it’s getting bigger with each stage of drilling we complete.

“F0 is just one of a number of untested structures we’ve identified from aeromagnetics in the Landed at Last area that have similar characteristics to the F1 Fault.”

Barton also noted that drilling at Banjo’s Camp had confirmed significant depth extensions to the large-scale shear zones with widespread low-grade gold and associated silver values along with other pathfinder elements.

“There’s plenty of smoke and it’s early days, with clear vectors for follow-up drilling,” he said.

“We approached our first phase of drilling at Banjo’s with the Cosmopolitan Mine at Kookynie as a model.

“The ore hosting structures at Cosmopolitan are huge but the richest gold shoots are relatively narrow and easy to miss with a drill bit.

“With that in mind we’re now undertaking detailed geochemical and geophysical/structural studies to further refine our targets ahead of follow-up drilling.”

This article was developed in collaboration with Arika Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.