logo-loader
viewYandal Resources Ltd

Yandal Resources hits 17 g/t gold ace in drilling at Flushing Meadows

Mineralisation is open at depth and for 4 kilometres along strike with a 6,000-metre follow-up drill program to begin in mid-April.

Map of project area
Yandal shares are up 15% to 23 cents at midday

Yandal Resources Ltd (ASX:YRL) has received high-grade gold results from reverse circulation drilling at Flushing Meadows target within the Ironstone Well project in the Yandal Greenstone Belt in WA.

Among the broad, shallow intersections were 16 metres at 2.26 g/t gold from 5 metres, 16 metres at 2.72 g/t from 24 metres and 27 metres at 2.32 g/t from 89 metres, with another 8-metre intersection at 2.69 g/t from 49 metres including 1 metre at 17 g/t.

Encouraging results were also received from the Success target at Mt McClure project south of Ironstone Well.

Drilling at Flushing Meadows and Success

A program of 24 angled RC holes for 2,208 metres was completed at Flushing Meadows and Success with the aim of extending and confirming historically reported gold mineralisation.

Six RC holes from Flushing Meadows were also resampled to provide new quality assurance and quality control (QA/QC) information as part of the resource estimation activities.

Yandal Resources’ managing director Lorry Hughes said the drilling at Flushing Meadows continued to demonstrate the potential for a large gold deposit.

“As our knowledge of the mineralisation system has grown we have been surprised at the lack of effective drill testing along strike to the northwest.

“We will start testing an 800-metre-long strike zone along the Barwidgee Shear with RC drilling as step out holes based on recent excellent air-core intercepts.

“Following that, the 4-kilometre-long strike zone will be tested with further aircore drilling on 200-metre spaced lines to try and locate new gold mineralisation – the only historical holes in the target zone are shallow wide-spaced vertical holes which we consider to be ineffective.”

 

The new results are considered highly encouraging as significant new mineralisation has been discovered at the northern end of the prospect and several historic assay results were confirmed.

One hole, YRLRC0046, was particularly encouraging as it intercepted high gold grades over broad widths from the most northern line tested, including:

  • 1 metre at 8.19 g/t gold from 42 metres;
  • 2 metres at 1.80 g/t from 58 metres;
  • 3 metres at 5.46 g/t from 82 metres, including 1 metre at 15.54 g/t from 82 metres; and
  • 27 metres at 2.32 g/t from 89 metres, including 8 metres at 3.9 g/t from 89 metres.

The mineralisation is strongly oxidised to depths of 120 metres downhole and is open along strike.

If mineralisation can be extended, as is indicated by the recent aircore drilling results, it has the potential to add significantly to the Flushing Meadows deposit.

READ: Yandal Resources to serve up new drilling after success at Flushing Meadows

The results from RC resampling have also demonstrated the potential economic importance of the northern zone as intersections including 9 metres at 2.95 g/t from 41 metres and 14 metres at 2.1 g/t from 50 metres were returned.

Success results

At Success, two RC holes for 378 metres were completed beneath the south end of the Success open pit and were designed to test for a south-plunging high-grade gold horizon within volcanogenic sediments.

Both holes appeared to intersect the intended target horizon, however, they intersected a low-grade part of the horizon or missed it due to a steeper plunge component to the mineralisation than anticipated.

One hole returned 9 metres at 0.74 g/t from 180 metres, including 3 metres at 1.14 g/t from 181 metres and the other hit 2 metres at 2.59 g/t from 68 metres.

Next Steps

Follow-up exploration has begun following interpretation of the latest results with detailed design and scheduling of activities nearing completion.

A combined 6,000-metre RC drilling program to test multiple prospects at the Ironstone Well and Barwidgee projects is expected to begin in mid to late April.

Key exploration activities planned for the June quarter include:

  • Complete staged 5,200 metres of RC resource drilling at Flushing Meadows prospect;
  • Review design and schedule new aircore drilling northwest of Flushing Meadows;
  • Complete 400 metres of RC drilling at Flinders Park prospect;
  • Complete 200 metres of RC drilling at Rosewall prospect;
  • Design follow-up RC drilling at Success prospect; and
  • Compile results for resource estimation at Flushing Meadows and begin activities to support a preliminary economic assessment.

Quick facts: Yandal Resources Ltd

Price: 0.24 AUD

ASX:YRL
Market: ASX
Market Cap: $16.04 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Yandal Resources Ltd named herein, including the promotion by the Company of Yandal Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Yandal Resources outlines capital raising to accelerate exploration

Yandal Resources Limited (ASX:YRL) managing director Lorry Hughes speaks to Proactive Investors about the new rights issue to shareholders to raise around $2.9 million.    Hughes says this puts the company in a great position when the gold market is flying...

on 26/6/19

4 min read