Resources Top 5: Arika jumps 56pc as gold bounces back above US$3000

Arika has risen as much as 56% on high-grade results from Yundamindra as gold bounces back above $3000.

Despite markets bouncing back, gold remains a safe haven and has kicked back above $3000. Pic: Getty Images

• High-grade results up to 13.46m at 5.28g/t gold have been returned from Arika’s Yundamindra project  

• Strong gold and antimony results have been delivered from Larvotto’s Hillgrove project 

• Firetail Resources has launched fieldwork to refine drill targets at Picha copper project

Your standout small cap resources stocks for Thursday, April 10, 2025.

Arika Resources (ASX:ARI)

Gold moved up more than 3% in the past 24 hours, back above the US$3000 mark, and remains a safe haven despite markets bouncing back and Trump’s 90-day tariff pause.

Considerable investment nervousness is persisting with the trade war far from over.

Gold remains in a robust uptrend with limited selling pressure as many investors hold onto the yellow metal even as sentiment improves. It was trading at $3132.60/oz (~A$5063) at the time of writing.

Benefitting from the bounce back has been Arika Resources (ASX:ARI) which was up to 56% higher at 2.5c after delivering high-grade gold results from the Pennyweight Point prospect at its Yundamindra gold project near Laverton in WA.

Diamond drilling returned 13.46m at 5.28g/t Au from 111.4m within a broader intersection of 35.75m at 2.14g/t from 104.27m. It also included 1.5m at 9.01g/t from 112.55m and 6.13m at 8g/t from 117.47m.

The results, which have confirmed a significant high-grade gold system at Pennyweight Point, are from a hole 150m down-plunge of a drill hit last year of 14m at 15.48g/t Au.

Another diamond hole in the latest campaign returned 23.97m at 2.54g/t from 162.03m, including 5.38m at 10.62g/t from 170.52m and 4.34m at 13.05g/t from 171.56m.

These are the deepest holes drilled to date in the area with Pennyweight Point now defined over a strike length of more than 350m and to a depth of at least 200m below the surface.

“The assay results from our first two diamond-cored drill-holes at Pennyweight Point have added further significant momentum to our ongoing systematic exploration campaign at Yundamindra,” Arika managing director Justin Barton said. 

“In addition to the exceptional grade and tenor of the mineralisation, this drilling has now extended the mineralisation some 50m down-plunge, confirming that we have a significant mineral system on our hands. 

“These results have also provided our technical team with important knowledge to assist in targeting the mineralisation in future extensional drilling and refining targeting of new discoveries.”

Being 65km southwest of Laverton, Yundamindra could not be in a better place, surrounded by active and underfed gold-processing plants and some of WA’s most impressive gold deposits, including the 8Moz Sunrise Dam and 7Moz Wallaby mine.

“The scale of the Pennyweight Point and Landed at Last prospects are both emerging rapidly, with continuous mineralisation now defined over a significant area – all located on granted Mining Leases,” Barton said.

“With these prospects remaining open both along strike and at depth, the multitude of high-priority targets identified over the project, and with less than 1% of currently identified structures drill tested, the Yundamindra Project is emerging as a high-quality discovery and growth opportunity for Arika. 

“We look forward to following up these encouraging results and re-commencing drilling shortly.”

Larvotto Resources (ASX:LRV)

Another positive move has been from Larvotto Resources (ASX:LRV) supported by strong recent results and attractive prices for in-demand metals, including gold and antimony.

With projects in New South Wales, Queensland, Western Australia and New Zealand, the company has risen 29.42% to a daily high of 77c.

On April 4, 2025, the Hillgrove gold-antimony project in NSW delivered impressive results from an active diamond drilling program with four rigs at the Bakers Creek and Eleanora-Garibaldi prospects.

Bakers Creek returned 8.3m at 10.39g/t gold equivalent (including antimony) from 408.7m, including 0.76m at 106.04g/t AuEq, and 0.6m at 183.5g/t from 493.4m.

Drilling at the Eleanora-Garibaldi mining centre identified zones of high-grade gold and antimony with results of 8.1m at 7.53g/t AuEq from 310.9m including 2.9m at 20.13 g/t, and 20.7m at 3.49 g/t AuEq from 146m  including 5m at 8.38 g/t from 146m.

“We are very pleased to announce that the ongoing Bakers Creek and Eleanora-Garibaldi drill programs are progressing to plan, with over 3,000m of diamond drilling completed at Bakers Creek and 5,400m at Eleanora-Garibaldi since drilling began in November and December respectively,” managing director Ron Heeks said. 

“We are particularly excited with the most recent round of assays received from hole BKC018 at Bakers Creek, which returned spectacular intercepts of up to 0.6m at 180 g/t Au and 0.76m at 104 g/t Au.

“Ongoing drilling at the Eleanora-Garibaldi mining centre continues to prove up high-grade mineralisation near to existing infrastructure. The results from Garibaldi, including 5m at 8.38 g/t AuEq and 20.7m at 3.49 g/t AuEq further support our exciting new developments in this historic mineral field.”

The Garibaldi deposit has a resource of 2.346Mt at 6.6 g/t AuEq for 372,000oz gold and 17,000t antimony. Bakers Creek does not have a calculated resource at this time.

Four diamond drill rigs are on site and LRV plans to continue increasing exploration with the addition of another drill rig. 

Several different geophysical programs are being undertaken to determine the optimal method to utilise as a method of new target generation and assisting to define the depth potential of mineralisation already identified.

As well as Hillgrove, LRV has the large Mt Isa copper, gold, and cobalt project adjacent to Mt Isa townsite in Queensland, the Eyre multi-metals and lithium project 30km east of Norseman in Western Australia and a gold exploration project at Ohakuri in New Zealand’s North Island.

Firetail Resources (ASX:FTL)

Benefitting from Wednesday’s drill targeting progress at the Picha copper project in Peru, Firetail Resources (ASX:FTL) was 17.39% higher to 5.4c.

Ahead of its planned maiden drill program at the Ichucollo target focusing on large-scale copper channel samples, Firetailhas launched fieldwork, including an airborne magnetics survey, soil sampling and detailed structural mapping.

The magnetics survey has been designed to extend coverage across the new Anta Q’illqa target in the north of the project area.

This will provide information on any mineralisation as well as geological alterations and structures which could host a porphyry or intrusion-related mineral system.

In an effort to sketch-out the potential mineralised footprint, FTL is also undertaking a detailed soil sampling program, expected to be completed in April.

The program will add an additional layer of data on top of the geophysical survey, aiding the company in defining drill targets.

“The geology we are seeing on the ground is highly encouraging and we believe provides strong indicators of an extensive porphyry system,” Firetail managing director Glenn Poole said.

“In parallel with these programs, the modification of the drill permit we have across the project is also progressing and we expect to be drilling in Q3 this year at the compelling Ichucollo Target, the most advanced in the pipeline of targets we now have across the Picha Project.

“This will be the maiden drilling program across this target and highlights the untested potential of the area.”

Future Metals (ASX:FME)

With early production and cash flow in its sights, Future Metals has signed an MoU with Zeta Resources that could accelerate development of its Eileen Bore copper-nickel-PGM and Panton PGM deposits in WA’s Kimberley region.

The MoU will assess the technical, economic and regulatory aspects of using the processing plant at Zeta’s nearby Savannah nickel mine to process ore from the two deposits.
This will involve ongoing feasibility analysis, based on the availability of technical and economic information. 

Should the assessment yield positive results, the parties will negotiate for a suitable commercial structure for future operations involving a combination of Future Metals’ (ASX:FME) ores and Savannah’s processing plant.

Recent drilling at Eileen Bore confirmed that significant copper-nickel mineralisation is present with assays of up to 30m at 1.06% copper, 0.45% nickel and 1.14g/t PGM from 88.9m.

FME shares reached 5.4c, a 17.39% increase on the previous close.

As part of the Zeta agreement, FME is raising up to $4.2m before costs to advance development of Eileen Bore into a bulk copper feed source for the Savannah plant.

This consists of a $1.58m placement at 1.1c per share cornerstoned by Zeta, which will emerge with a 9.9% stake in FME, and a one for three rights issue for existing shareholders under the same terms to raise up to $2.64m.

Strata Minerals (ASX:SMX)

Continuing to benefit from high-grade gold and silver returned from the Black Dragon prospect within the Biranup project in WA is Strata Minerals, which increased 14.3% to 3.2c.

Rock chip results of up to 218g/t gold and 302g/t silver were returned on Tuesday from a program of structural mapping and outcrop sampling at Black Dragon, which is next door and along trend of AngloGold Ashanti’s 5Moz Tropicana gold mine. 

The sampling highlighted at least three main east-dipping mineralised trends within the limited area of outcrop. 

There were 61 samples collected of which eight (13%) reported grades above 30g/t gold and 27 (44%) returned grades over 1g/t gold.

Samples with grades above 10g/t gold also exhibited highly elevated silver and tellurium levels.

These results complement a program of rock chip sampling by previous explorers where 170 rock chips were taken across the wider project area. 

Around 46 (27%) recorded levels of more than 1g/t gold while 11 (6.5%) hit better than 30g/t gold.

This article does not constitute financial product advice. You should consider obtaining independent financial advice before making any financial decisions. While Arika Resources, Firetail Resources and Strata Minerals are Stockhead advertisers, they did not sponsor this article.

Originally published as Resources Top 5: Arika jumps 56pc as gold bounces back above US$3000