Yandal Resources Ltd (ASX:YRL) is set for rapid growth as it continues to receive strong drilling results from gold projects in the Yandal Greenstone Belt of Western Australia.
In a June quarter update presentation to investors, managing director and CEO Lorry Hughes said further drilling results were pending from the company’s advanced and early stage gold prospects including Flushing Meadows, Gordons Dam and Barty.
He said: “With gold trading at all-time highs and the clear prospectivity of our projects, I look forward to providing exciting information from further exploration and mining development activities very soon.”
Gordons Gold Project
At the Gordons Gold Project, new aircore, reverse circulation (RC) and diamond drilling programs will begin in June to rapidly advance the prospect.
Aircore drilling will begin first to infill and extend gold trends more than 700 metres in strike, followed by RC drilling which is expected to confirm high-grade zones and targets for diamond drilling.
Ironstone Well and Barwidgee project
Hughes said the Ironstone Well and Barwidgee Project, which comprises gold-bearing structures that have received virtually no exploration for 20 years, would undergo geotechnical and hydrogeological drilling at Flushing Meadows prospect in the June and September quarters.
Pit optimisation, mine design, environmental approvals and stakeholder liaison will continue through the June and September quarters as well while discussions with third-party processing facilities are ongoing.
At Barty prospect, reconnaissance aircore drilling results are pending from the Southern Bullseye anomaly with RC drilling planned in the September quarter at Sims Find, which contains a shallow historical resource more than 450 metres in strike.
Mt McClure project
The Mt McClure Project, around 28 kilometres from the Bronzewing mill, has an extensive gold system with excellent potential for resources at depth where mineralisation occurs for more than 8 kilometres in strike.
At Success prospect, Yandal believes there is clear resource potential as consistent mineralisation has been defined with historic drilling over the entire 600 metres in strike length and 10 metres average width.
The company believes the Challenger deposit has potential down-plunge and along strike from pits with a high-grade hanging wall lode remaining a priority target after returning 1-metre at 103 g/t gold from 83 metres.
RC and diamond drilling to test between 150 metres and 250 metres at depth is at the advanced planning stage.
Hughes said the company’s two stage approach was targeting tier-1 gold deposits with the first stage set to rapidly build JORC resources and develop mines.
Stage-2 consists of defining and drill testing the ‘best’ greenfields targets to make new discoveries.