logo-loader
viewYandal Resources Ltd

Yandal Resources set for growth as strong results continue from WA gold projects

Snapshot

In a June update CEO Lorry Hughes said the company was looking forward to providing exciting information from further exploration and mining development activities.

Yandal Resources Ltd - Yandal Resources is set for rapid growth as it continues to receive strong drilling results from WA gold projects

Quick facts: Yandal Resources Ltd

Price: 0.26 AUD

ASX:YRL
Market: ASX
Market Cap: $20.86 m
Follow

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.

Two-stage approach

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.

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

Full interview: Yandal Resources reflects on a productive 12 months since...

Yandal Resources Ltd (ASX:YRL) managing director Lorry Hughes updates Proactive on the year that was, 12 months after listing on the ASX. Hughes said it had been an immensely satisfying first year with the company in a great position for continued growth after defining a maiden...

on 4/12/19

3 min read