Yandal Resources (ASX:YRL) is kicking off a reverse circulation (RC) drilling program at its Ironstone Well-Barwidgee Project in Western Australia.
The $8.67 million market capitalisation company says this program marks the initial phase of drilling aimed at testing ‘high priority’ targets, identified during a recent project-wide review as having the potential to host ‘large-scale’ deposits.
Drilling will comprise 3,500m of drilling and will take 3 to 4 weeks to complete, with assay results expected in late October 2023.
The company has a very active rest of the year planned out with an initial Mineral Resource Estimate (MRE) planned to be complete for the HMS Sulphur prospect within Mount McClure, as well as follow up priority targets highlighted in the recent independent geological targeting studies at Gordons and Ironstone.
Commenting on the current drilling activities, Yandal Resources Managing Director Tim Kennedy says: “This program follows on from a comprehensive review of the extensive target pipeline within Yandal’s project portfolio.
Our strategy has been to identify those prospects with the highest potential, based on geological setting and geochemical footprint, to result in a discovery that can add significant value to the company. We look forward to completing the program and reporting the results as they come to hand.”
Two prospects will be drill tested during this program, namely the Oblique and New England Granite prospects.
Both prospects have targeted footprints in excess of 1.9km and 4km, alongside having previously returned ‘significant’ gold intercepts from historic drilling.
Previous drilling conducted at the Oblique prospect has highlighted ‘strongly’ anomalous gold over a 1.9km long zone and has returned numerous intercepts, which are broad and contain ‘higher grade’ cores.
The New England Granite prospect is located towards the southeast of the project area, and comprises a shallowly covered granitic intrusive measuring some 4.3km by 2km, where historic reconnaissance style drilling has returned broad gold anomalism.
Yandal notes this is mainly concentrated along a 4km zone of the eastern margin in contact with the host greenstones.
Yandal Resources is an ASX-listed gold explorer with assets in the ‘highly prospective’ Yandal and Norseman-Wiluna greenstone belts of Western Australia.
As of 30 June 2033, the company had $4.2 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Aaliyah Rogan at Mining.com.au
Images: Yandal Resources
