Yandal Resources Ltd (ASX:YRL) has received further shallow high-grade gold intersections at Gordons Dam prospect which enhance the potential of Gordons Gold Project in the prolific Kalgoorlie-Boulder region of WA.
Further encouragement has been provided by the results from the reverse circulation (RC) program of up to 1-metre at 22.29 g/t gold within 23 metres at 1.54 g/t from 40 metres.
New broad zones of primary gold mineralisation returned from RC holes targeting primary structures will be followed up with a new 8,500-metre aircore and RC program scheduled to begin on August 18.
Maiden resource estimate targeted
Managing director Lorry Hughes said: “High-grades from shallow depths and widespread anomalous gold in primary rocks over a 700-metre strike length is what we have so far.
“I think it is clear that the gold mineralisation discovered to date within shallow paleochannel sediments and in adjacent supergene and primary rocks has the potential to be included in a mineral resource estimate.
“We plan to systematically expand our understanding of the mineralisation system through aggressive drilling, robust QA/QC sampling programs and the compilation of a maiden mineral resource estimate in the December quarter.”
Shares have been as much as 15% higher to 30 cents.
Apart from the 23-metre intersection, other shallow high-grade results include:
- 1-metre at 5.27 g/t within 9 metres at 0.72 g/t from 32 metres; and
- 1-metre at 5.99 g/t within 19 metres at 0.96 g/t from 31 metres.
New RC program to begin
The company plans to expand the 25 by 20 metres mineral resource estimate drilling grid within the palaeochannel area to the northwest, northeast and southwest as significant shallow oxide mineralisation has been intersected in earlier aircore (AC) and RC programs.
A new AC program of around 3,000 metres will begin toward the end of the RC program and will aim to extend the strike of the known mineralisation footprint to the southeast.
The entire 700 metres strike length and possible extensions to the southeast represent a high-priority exploration target for ongoing follow-up to assess the potential to define new mineral resources.
Key exploration activities planned during the September quarter at the Gordons project include:
- Begin and complete new 5,500 metres RC program at Gordons Dam and Star of Gordon prospects;
- Receive and review pending results from 65 AC holes at Gordons Dam and commence new 3,000-metre AC program including Cleft prospect;
- Complete comprehensive QA/QC data collection/analyses and commence compilation of a maiden mineral resource estimate for Gordons Dam; and
- Receive RC results and design diamond drill program for Gordons Dam.