Arika shines light on new targets at WA gold play

Arika Resources is ramping up exploration at the Yundamindra gold project after a historic review of surface samples revealed 27 new targets.

The company says the new targets highlight the potential scale of the emerging gold footprint at the project. Pic: Getty Images.

• Arika finds 27 new targets from historical surface sample review at Yundamindra

• Most of the targets have not been previously drill tested

• ARI now planning to test the underexplored Southern region of the project

 

Special Report: Arika Resources has identified a whopping 27 targets following a review of historical surface geochemical sampling at its Yundamindra gold project in the historic production centre of Laverton in WA’s northern Goldfields.

And now a review of historic samples has outlined extensive new target areas – most of which are undrilled.

Multiple anomalies have been identified over +10km of strike along the Western Corridor, highlighting extensions to the known mineralisation and the potential for a number of previously unrecognised parallel lodes.

Arika says two of the highest priority targets are associated with northern and southern extensions of the Pennyweight Point structural corridor and the recently identified gold-bearing quartz reefs at Banjo’s Camp.

The review has also highlighted that the southern half of the project has not been effectively sampled by historical surveys.

This is a high-priority, complex structural target area centred on the nose of the Yundamindra synclinal fold closure where the Eastern and Western structural corridors combine.

The Yundamindra project with geochemical target areas. Pic: ARI

Southern region remains untested

The newly rediscovered targets are further opportunities to unlock what Arika believes could be a multi-million ounce gold field in the shadow of world class mines owned by giants like AngloGold Ashanti, Genesis Minerals and Gold Fields.

“The results of our historical geochemical review have provided another layer to the emerging gold footprint at Yundamindra, bringing us another step closer to unlocking the significant potential of the project,” ARI managing director Justin Barton said.

“The identification of 27 new targets, on top of the 25+ priority targets already identified from the previous historical geophysical review, is really starting to show the magnitude of the opportunity in front of us at Yundamindra.

“Importantly, two of the highest priority targets – which have yielded substantial gold anomalism – are the northern and southern extensions to the Pennyweight Point prospect, currently our most advanced gold prospect.

“The structural corridor encompassing these extensions runs for over 4km, with the recently identified gold-bearing quartz reefs at Banjo’s Camp extending this corridor to a combined strike length of over 4.5km.

“Both of these targets have received limited or no previous drill testing.”

Barton said these results represent a further endorsement of the outstanding work being undertaken by the company’s technical team, and the disciplined, methodical and systematic approach they are applying to exploration.

Arika is now planning an ultra-detailed airborne magnetic survey to help focus surface geochemical sampling and drill testing of key structures in the southern area.

Drill testing of the priority targets will also commence once all regulatory approvals, including heritage surveys and POWs, have been received.

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.

Originally published as Arika shines light on new targets at WA gold play