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Yandal Resources receives one of the best intersections to date at Ironstone Well Gold Project

The best intersection received to date is 5 metres at 5.84 g/t gold, including 1 metre at 21.06 g/t from 33 metres with a 10,000-metre drilling program set to begin as part of open pit mining feasibility study work.

Yandal Resources Ltd - Yanadal Resources receives one of the best intersections to date at Ironstone Well Gold Project
Drilling was completed in the December 2019 quarter

Yandal Resources Ltd (ASX:YRL) has received one of the best intersections to date at the Flushing Meadows gold deposit which returned up to 21.06 g/t gold within the Ironstone Well Gold Project in Western Australia.

Reverse circulation (RC) drilling was completed in the December 2019 quarter to expand and upgrade the initial mineral resource estimate (MRE) and to support open pit mine development activities at the prospect.

Flushing Meadows is 60 kilometres south-east of the mining town of Wiluna and is close to a number of gold development projects and operating mines.

Gold assay results from 16 RC holes for 1,542 metres are reported above a 0.50g/t gold lower cut-off grade.

Results demonstrate open-pit mine development potential

Managing director Lorry Hughes said: “These high-grade results from shallow depths are encouraging and continue to demonstrate the potential to define an economically robust open pit mine.

“Drilling will resume at the prospect shortly to provide essential geological data for a feasibility study and submission of a Mining Proposal to the Department of Mines, Industry, Regulation and Safety.

“The majority of the drilling will be RC to infill areas likely to be included within an open pit design, including a program of close spaced “Grade Control Simulation” holes aimed to improve confidence in modelled grade and continuity.

“Work on a number of other activities to support development has also commenced including stakeholder engagement, environmental assessment, new tenement applications and discussions with third party processing facilities.

“We expect to submit the Mining Proposal in the December Quarter 2020.”

The best intersection received to date has recorded 5 metres at 5.84 g/t gold, including 1 metre at 21.06 g/t from 33 metres; and

9 metres at 5.14 g/t from 41 metres, including 3 metres at 11.55 g/t from 42 metres.

Next steps

Key exploration and development activities planned during the March and June quarters include:

  • Starting regional air-core drilling at the Barty, Flushing Meadows North, Oblique, Quarter Moon and Barwidgee Shear Zone prospects;
  • Finalising design for infill and grade control simulation RC drilling and diamond drilling at Flushing Meadows;
  • Completing the Gordons project air-core and RC drilling; and
  • Beginning all Flushing Meadows Feasibility Study workstreams.

Quick facts: Yandal Resources Ltd

Price: 0.615 AUD

ASX:YRL
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Market Cap: $49.33 m
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