Arika Resources Limited (ASX: ARI) has announced significant high-grade gold intercepts from its maiden diamond drilling program at the Pennyweight Point Prospect within the Yundamindra Gold JV Project in Western Australia. The drilling, the deepest conducted by Arika in the area, has confirmed depth and plunge potential, revealing substantial primary gold mineralization. Key intercepts include 35.76m @ 2.14 g/t Au from 104.27m down-hole (25YMD001), including notable higher-grade sections, and 23.97m @ 2.54 g/t Au from 162.03m down-hole (25YMD002), also with significant high-grade intervals. These results extend approximately 100m and 150m down-dip/plunge from previously reported hole YMRC077, which yielded 14m @ 15.48 g/t Au from 46m.
The drilling program, comprising two diamond cored drill-holes totaling 376.40m, has confirmed continuous gold mineralization over a strike length of at least 350m and to a depth of at least 150m down-dip. The system remains open along strike and at depth, suggesting potential for further resource expansion. Managing Director Justin Barton emphasized the significance of these results, stating that the drilling has extended the mineralization some 50m down-plunge, confirming a significant mineral system. The technical team will use the knowledge gained to refine targeting in future extensional drilling and new discoveries.
Arika plans to re-commence drilling shortly to follow up on the latest results and test new targets identified through surface geochemistry. These targets align with interpreted extensions to the Pennyweight Point ore-hosting structures, away from historical workings and previous drilling, indicating priority areas for exploration. This program included petrological studies and analysis of lithogeochemical data to guide further exploration. An ultra-detailed drone-supported aeromagnetic survey is slated for the southern half of the Yundamindra Project area. The Yundamindra Gold JV Project, located 65km south-west of Laverton, is a joint venture between Arika (80%) and Nex Metals (20%), with Arika as the project manager. The results signify a high-quality discovery and growth opportunity for Arika within the prolific Eastern Goldfields mining district.
