Arika finds 4.5km of thick gold bearing quartz reefs at Banjo’s Camp prospect

Arika Resources has identified a series of thick quartz reefs extending over 4.5km of strike at its Yundamindra gold project.

Arika hopes to pluck out more high-grade gold at its latest promising prospect. Pic: Getty Images

• Arika Resources’ newly mapped prospect returns highly anomalous rock chips measuring up to 5.4g/t gold

• Adds to an exciting pipeline of recently uncovered prospects

• Drilling over new targets to begin ASAP and assays from a 5000m RC campaign are expected soon

 

Special Report: Arika Resources has identified a series of thick quartz reefs extending over 4.5km of strike with rock chips of up to 5.4g/t gold at its Yundamindra project near Laverton.

Arika Resources' (ASX:ARI) mapping identified the series of parallel quartz reefs up to 20m wide, and almost half of the 47 rock chips over the newly dubbed Banjo’s Camp prospect returned highly anomalous gold.

The prospect is centred within a structurally complex end of the Yundamindra synform where Arika’s geophysical consultants have identified quite a collection of high-priority targets.

They’re the final results from an initial rock chip assessment of new areas highlighted by structural targeting, but Arika already seems to have enough targets on deck worthy of the drill bit.

Arika managing director Justin Barton said identification of the structures is another step change at the rapidly emerging project and further reward for the outstanding work of its technical team.

“The scale of the gold footprint that is emerging at this project is now very substantial and we are enhancing the potential of a significant gold discovery being made by the day,” Barton said.

“These initial rock chip results are only a first pass assessment of one of a number of unexplored priority targets at the project and to return any sign of anomalous gold was always going to be highly encouraging.

“To have such highly anomalous gold in so many samples over 4/5kms highlights a very exciting new target for the company and provides a very strong endorsement for the systematic work and targets identified by our technical team in consultation with Core Geophysics.”

A zoom in on the Banjo’s Camp prospect showing assay results and extent of the quartz reefs. Pic: ARI

Yundamindra pipeline

Barton added that Banjo’s Camp adds to a growing pipeline of drill-ready opportunities at Yundamindra, and with less than 1% of currently identified structures and targets drill tested, Arika was just beginning to see and unlock its substantial potential.

“We look forward to drill testing these targets as soon as possible and eagerly await the assays of the recently completed expansional drilling program undertaken at our Pennyweight Point and Landed at Last prospects,” he said.

The last round of drilling over Pennyweight Point returned multiple high-grade 30m+ intercepts, and Arika expects assays from a follow up 5000m RC campaign over the coming weeks.

The discovery of more than 25 new targets prompted a new campaign, and rock chips going up to 19.3g/t from a freshly uncovered Queen of Sheba prospect has built further anticipation.

Despite evidence of significant old workings and a Laverton location that everybody wants a slice of, the project’s Southern Corridor remains untested by modern drilling.

Arika’s investigation of its new targets will now begin as soon as approvals are in the books.

Supervising Geologist Paddy Reidy inspecting quartz veining at Banjo’s Camp. Pic: ARI

This article was developed in collaboration with Arika Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.