Yandal Resources Ltd (ASX:YRL) has been admitted to the Official List of the ASX Ltd (ASX:ASX) with quotation of its shares to begin at 1pm tomorrow, Friday, December 14, 2018.
The WA-focused gold explorer raised $5 million in an oversubscribed capital raising and is well positioned to advance its priority prospects targeting the discovery of ‘Tier 1’ gold deposits.
Funds raised will be used for exploration at a suite of projects in the highly prospective Yandal Greenstone Belt of Western Australia.
Yandal said that with gold trading well over A$1,700 per ounce and the clear prospectivity of its projects, it looks forward to providing exciting information from exploration activities in the near-term.
Managing director and CEO Lorry Hughes said: “On behalf of the board I would like to thank all our staff, shareholders and suppliers for getting behind us and helping to make this happen.”
The company expects to receive new assay results from drilling programs at the Ironstone Well, Mt McClure and Gordons projects soon after listing.
Yandal is also well advanced with plans and preparations for exploration programs to kick off early in the new year.
The projects are along strike or adjacent to known gold deposits.
Three projects - Ironstone Well, Barwidgee and Mt McClure – are within the Yandal Greenstone Belt, which continues to host new large-scale gold discoveries.
Ironstone Well and Barwidgee are southeast of Wiluna and south of another major Northern Star Resources Ltd’s (ASX:NST) operation, Jundee, which hosts more than 10 million ounces.
A fourth, Gordons, is 16-kilometres north of Northern Star’s large Kanowna Belle gold mine in the prospective Kalgoorlie region.