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Yandal Resources verifies development potential of advanced WA gold prospect, resource estimate planned

The company is well-funded to accelerate exploration and development activities at its projects as its rights issue and shortfall placement to raise $2.94 million closed oversubscribed.

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Follow-up drilling is planned for the September quarter

Yandal Resources Ltd (ASX:YRL) has increased the prospectivity and development potential of its portfolio of gold projects in the Yandal and Norseman-Wiluna greenstone belts in Western Australia.

Drilling at the Ironstone Well project confirmed substantial gold mineralisation at Flushing Meadows deposit, with work programs focused on compilation of an initial mineral resource estimate and defining new priority drilling targets for follow-up in the September quarter.

Further oxide gold intercepts 800 metres north along strike from Flushing Meadows and 5 kilometres south at Flinders Park have verified the Barwidgee shear zone as a highly prospective exploration target.

 

Yandal Resources managing director Lorry Hughes said the June quarter had been an active and successful period for the company.

He said: “Our drilling programs have returned some exciting results, providing a platform for a transformational year ahead.

“Flushing Meadows and the underexplored Barwidgee shear zone will dominate our exploration and development focus in the next six months, but we will also accelerate exploration at all our other gold projects.

“The successful rights issue and shortfall placement enables us to grow our exploration team and expand gold discovery programs.”

READ: Yandal Resources obtains RC drilling results up to 7.25 g/t gold at Flushing Meadows

Drilling at Flushing Meadows, 60 kilometres southwest of Wiluna and close to operating gold mines, comprised 102 reverse circulation holes for 9,488 metres and intersected shallow oxide mineralisation in most holes.

Gold mineralisation was confirmed and extended over the historic Flushing Meadows deposit area and along strike in extensional areas.

The shallow nature has further confirmed the potential for the definition of an initial mineral resource estimate.

READ: Yandal Resources drilling confirms gold mineralisation at Flushing Meadows

Highlighted results include:

  • 16 metres at 2.26 g/t gold from 5 metres;
  • 16 metres at 2.72 g/t from 24 metres;
  • 27 metres at 2.32 g/t from 89 metres;
  • 18 metres at 2.26 g/t from 91 metre including 12 metres at 3.02 g/t; and a 4-metre composite sample gave
  • 36 metres at 0.91 g/t from 40 metres including 4 metres at 3.17 g/t and 4 metres at 2.8 g/t

READ: Yandal Resources drill results extend gold at Flushing Meadows ahead of JORC resource

Exploration drilling at Flushing Meadows has to date returned consistent supergene-enriched and depleted oxide gold mineralisation interspersed with higher grades resulting in the definition of a deeply weathered deposit.

The deposit has a strike length of 1.9 kilometres extending to a vertical depth of about 100 metres and has been sufficiently drilled along strike and down dip to estimate an initial mineral resource.

A resource estimate is the first step in providing a preliminary economic assessment for the prospect.

Several technical activities to support future mine development are planned for the upcoming two quarters including metallurgical testing, optimisation studies, geotechnical assessment, surface and ground water studies and stakeholder engagement.

READ: Yandal Resources completes extensive drilling program at Ironstone Well and Barwidgee gold projects

The Flinders Park prospect is 5 kilometres southeast along the Barwidgee shear from Flushing Meadows and had three RC holes drilled for 210 metres to a maximum downhole depth of 90 metres.

The holes were completed to test beneath and along strike from shallow oxide mineralisation intersected in earlier RC and aircore programs.

One hole whioch returned 1-metre at 1.73 g/t from 19 metres and 26 metres at 1.69 g/t from 38 metres, also included:

  • 4 metres at 2.64 g/t from 38 metres;
  • 1-metre at 9.75 g/t from 50 metres; and
  • 4 metres at 2.96 g/t from 59 metres.

Yandal interprets gold mineralisation to be influenced by a north-south fault, associated splays and the northeast trending Barwidgee shear.

Work was also carried out at the Mt McClure Gold Project including database review, geological interpretation and target generation.

Next steps

During the September quarter Yandal plans to focus on receiving and reviewing drilling results including sampling and analyses ahead of geological modelling, mineral resource estimation and a preliminary economic assessment.

Some technical activities related to mining will begin at the Flushing Meadows deposit and Yandal will generate a priority list of new exploration targets to test.

Quick facts: Yandal Resources Ltd

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ASX:YRL
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