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Yandal Resources Ltd

Yandal Resources drills high-grade oxide gold at Gordons Project

The Western Australian gold explorer listed on the ASX in December 2018.

rc drill rig
The company raised $5 million in an IPO of shares at 20 cents

Yandal Resources Ltd (ASX:YRL) has received assay results from the December 2018 reverse circulation (RC) drilling program at its Gordons Gold Project in the Kalgoorlie region of Western Australia.

The 888 metres of RC drilling targeted the Gordons Dam prospect and aimed to discover the source of previously identified oxide gold.

Highlights from the results feature 8 metres at 7.33 g/t gold from 35 metres including 1 metre at 47.96 g/t gold and 3 metres at 18.30 g/t gold from 34 metres.

Mineralisation is open in most directions and follow up drilling is to commence in February 2019.

READ: Yandal Resources confirms multiple gold targets for follow-up exploration next year

Yandal’s managing director Lorry Hughes said: “The new results are highly encouraging as we have improved our understanding of the mineralisation system substantially.

“Bedrock intercepts in both porphyry and sheared basalt directly below high grade oxide gold suggests we could be onto a system of significant size.

“The new high-grade oxide intercepts have shown the mineralised footprint within palaeochannel sands and clays to be significantly larger than the original zone 300 metres long by 50 metres wide."

Follow-up work commenced

Follow up exploration has commenced to review available geo-data sets in order to interpret the geology and assay data with the latest information from the current program.

Hughes added: “Further assessment of the surrounding historic exploration results and geo-data sets is underway to determine the significance of the new results.

“Being so close to the large porphyry hosted Kanowna Belle mine certainly gives us confidence to pursue additional drilling at depth.”

The extent of the mineralisation is unknown and further drilling is required.

Quick facts: Yandal Resources Ltd

Price: $0.20

Market: ASX
Market Cap: $8.36 m
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