viewYandal Resources Ltd

Yandal Resources results confirm bedrock gold discovery at Gordons Dam with mineralisation open in all directions

The company plans a 10,000-metre reconnaissance aircore program at Gordons Dam and the testing of other high-priority targets in mid-September.

Yandal Resources Ltd - Yandal Resources’s air-core results confirm bedrock discovery with mineralisation open in all directions at Gordons Dam Gold Prospect
The intersections are considered largely consistent with results from earlier reconnaissance drill programs

Yandal Resources Ltd’s (ASX:YRL) aircore drilling results have confirmed a bedrock discovery, with gold mineralisation open in all directions at Gordons Dam Gold Prospect in the highly prospective Kalgoorlie-Boulder region of WA.

Results from 31 of 65 aircore holes returned anomalous assays from bottom of hole samples with a highlight being 2 metres at 1.97 g/t gold from 42 metres, including 1-metre at 3.79 g/t.

Other encouraging results were 14 metres at 0.11 g/t from 46 metres to the end of hole, 1-metre at 0.53 g/t from 48 metres to the end of hole and 17 metres at 0.38 g/t from 41 metres to the end of hole.

Encouraged by results

Yandal Resources’ managing director Lorry Hughes said: “We continue to be encouraged by the high number of reconnaissance holes finishing in anomalous gold mineralisation over a broad area and in multiple northeast trends.

"The aircore holes are completed to blade refusal so we have only intercepted the very top of the bedrock mineralisation.

“If we can demonstrate bedrock mineralisation is continuous over a number of drill sections the economic potential of this discovery should increase considerably.”

Further drilling

Yandal's 5,500-metre resource definition and discovery reverse circulation (RC) drilling program targeting both shallow oxide and bedrock gold mineralisation is 50% complete.

The RC program will test beneath aircore intercepts and help improve understanding of the primary mineralisation geometry and rock types at depth.

Oxide palaeochannel-hosted gold mineralisation strikes northeast to southwest and this will be the location of an initial shallow mineral resource estimate.

The company is also planning a 10,000-metre reconnaissance aircore program to expand known mineralisation at Gordons Dam and to test high-priority targets at a number of other prospects within the project in mid-September.

Consistent with earlier results

A total of 65 aircore holes for 3,298 metres were completed to test for extensions adjacent to and along strike from mineralisation hosted within shallow oxidised palaeochannel sediments, felsic porphyry and mafic rocks.

Numerous significant intercepts were returned and are considered largely consistent with the results from earlier reconnaissance drill programs along strike.

The 17-metre intersection also included 3 metres at 0.91 g/t from 42 metres with 1-metre at 1.30 g/t, 1-metre at 0.65 g/t from 48 metres and 4 metres at 0.67 g/t from 52 metres.

Other results include:

  • 4 metres at 0.25 g/t from 48 metres including 2 metres at 0.44 g/t;
  • 2 metres at 0.42 g/t from 45 metres including 1-metre at 0.69 g/t;
  • 3 metres at 0.18 g/t from 41 metres including 1-metre at 0.33 g/t; and
  • 5 metres at 0.17 g/t from 50 metres including 1-metre at 0.46 g/t.

Key exploration

Key exploration activities planned during the September and December quarters include:

  • Complete 5,500 metres RC drilling program at Gordons Dam and commence compilation of maiden resource estimate and mining studies;
  • Complete 10,000 metres aircore drilling over Gordon project;
  • Update resource estimate and mining studies for the Flushing Meadows gold deposit; and
  • Complete new RC and AC programs at the Mt McClure, Barwidgee and Ironstone Well projects.

Quick facts: Yandal Resources Ltd

Price: 0.615 AUD

Market: ASX
Market Cap: $49.33 m

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