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Yandal Resources achieves strong progress in December quarter, setting the stage for an exciting year in 2021

Snapshot

Building over the solid exploration activities, the company plans to complete a 20,000 metres of combined aircore and reverse circulation drilling across the Gordons project along with a maiden mineral resource estimate for Gordons Dam.

Yandal Resources Ltd - Yandal Resources achieves strong progress in December quarter, setting the stage for an exciting year in 2021

Quick facts: Yandal Resources Ltd

Price: 0.4 AUD

ASX:YRL
Market: ASX
Market Cap: $37.38 m
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Yandal Resources Ltd (ASX:YRL) has made strong progress in the December quarter on its exploration programs at its portfolio of highly prospective gold projects in the Yandal and Norseman-Wiluna Greenstone Belts in Western Australia, thus setting the stage for an exciting year in 2021.

During the quarter, the company intersected gold mineralisation at several prospects in its gold projects within the Yandal and Norseman-Wiluna Greenstone Belts, and is now looking to complete feasibility studies to expand resources at Yandal Belt projects.

Drilling programs to start late January

Yandal Resources’ managing director Lorry Hughes said: “The December quarter was very positive for the company as excellent exploration results were returned from several prospects and good progress was made on feasibility study activities.

“The strike length of bedrock mineralisation at Gordons Dam has been doubled to around 1.5 kilometres and we are increasing our knowledge of the controls to high-grade mineralisation.

“Large expansion drilling programs are planned to commence in late January.

“In the Yandal Belt once final 1 metre results are returned from 2020 RC drilling we will assess the potential to compile up to five new Mineral Resource Estimates at the Quarter Moon, Oblique, Sims Find, Success and Challenger prospects.”

Exploration activities in March quarter

Key exploration and development activities planned during the March quarter include;

  • Receiving 1metre sample results from reverse circulation (RC) drilling at the Sims Find prospect and from multiple prospects within the Ironstone Well project;
  • Receiving 1-metre sample results from 26 RC holes from the Mt McClure project;
  • Receiving and assessing results of a pit optimisation study at the Flushing Meadows prospect;
  • Completing a feasibility level metallurgical test work on a diamond core from Flushing Meadows;
  • Restarting AC and RC drilling to expand existing Resources at Yandal Belt projects;
  • Sample and receive assays from the remainder of diamond holes YRLDD006 and YRLDD007 and implement a follow-up RC program; and
  • Plans to complete 20,000 metres combined of AC and RC drilling across the Gordons project and compile a maiden mineral resource estimate for Gordons Dam for pit optimisation and technical activities.

Developments during the December quarter

As part of a 6,200 metres AC and RC drilling program, a total of 57 RC holes for 3,877 metres was completed at the Sims Find, Copan, Barty Bullseye, Rosewall, Woolshed Well, Flinders Park, Quarter Moon and Oblique prospects during the December quarter.

Initial results from the first batch of 4 metres composite samples were received and reported in December 2020.

A key purpose of the program is to confirm and expand historic mineralisation and if successful design new expansion RC programs for completion throughout the remainder of 2021.

Flinders Park Prospect – Ironstone Well Gold Project 

A total of three angled RC holes for 198 metres were completed to test for new shallow oxide mineralisation within an area interpreted to be influenced by the regionally important Barwidgee Shear Zone.

All holes returned significant intercepts with the highest grades occurring in consecutive holes on the same section.

Highlights from the three-hole program include high-grade results:

  • 4 metres at 14.98g/t gold within 12 metres at 5.46g/t gold from 36 metres; and
  • 4 metres at 14.22g/t within 16 metres at .68g/t from 44 metres.

Sims Find Prospect – Barwidgee Gold Project

A total of 38 angled RC holes for 2,440 metres were drilled to a maximum depth of 102m along strike from and in areas adjacent to historic underground workings.

The drilling was completed over an approximate 400m of interpreted strike length on sections 50 metres apart to evaluate the Resource potential.

Highlights from the first nine holes of the program include high-grade results;

  • 4 metres at 42.67g/t gold within 8 metres at 27.76g/t from 12 metres; and
  • 4 metres at 3.75g/t within 36 metres at 0.56g/t from 8 metres

Similarly, best results from Gordons Dam include:

  • 1 metre at 52.81g/t gold within 51 metres at 1.41g/t from 35 metres; and 
  • 1.68 metres at 11.94g/t within 4 metres at 6.65g/t from 60.32 metres.

Other important activities during the quarter

Up to 97.5% gold recovery from conventional gravity and cyanide leach processing of primary RC drill samples from Gordons Dam.

Flushing Meadows gold deposit resource increased by 40% to 268,000 ounces and feasibility study activities progressed with metallurgical testing and pit optimisation study workstreams underway.

Assay results pending from RC drilling at multiple resource targets within the Ironstone Well, Barwidgee and Mt McClure projects.

The company raised around $6 million via a strategic share placement to DGO Gold Ltd and Regal Funds Management ensuring the company is well funded to accelerate exploration at its priority prospects in 2021.

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