Gold explorer Yandal Resources (ASX:YRL) is gearing up for reverse circulation (RC) and diamond drilling work across multiple Western Australian prospects over the coming months.
The $9.78 million market capitalisation company is planning follow-up RC and diamond drilling at the Oblique prospect — which forms part of the wider Ironstone Well-Barwidgee (IWB) Gold Project — for the remainder of 2023 and early into 2024.
The RC holes will come first and will be designed to test the stratabound mineralisation within the currently defined limit at the prospect and to test for the host stratigraphy further south.
At the same time, Yandal is refining drill targets for follow-up work across the 4.2km eastern granite margin of the NEG prospect in the project area.
This NEG work will be supported by a pair of 400m-deep diamond holes to be co-funded by the WA Exploration Incentive Scheme (EIS).
Yandal with then move on to drill-test the Quarter Moon prospect at IWB before the end of June 2024.
These plans all come as the company defines an exploration target for these 3 prospects — and the Flushing Meadows prospect — within IWB, which lies on the western flank of the Yandal Greenstone Belt.
Yandal stresses that the exploration target, which sits at between 12.9 and 38.6 million tonnes grading between 1.1 to 1.4 grams per tonne (g/t) of gold for 0.44 million ounces to 1.78 million ounces of gold, is conceptual in nature and, therefore, is approximate.
The company defined the target following a fresh batch of assays from a 13-hole reverse circulation program at Oblique and New England Granite.
Despite some ‘challenging’ drill conditions at Oblique, with several holes falling short of their target depths, Yandal still struck results such as 24m @ 0.7g/t gold from 26m and 12m @ 1.1g/t gold from 84m — confirming the continuity and geology of mineralisation and extending it by 300m to the south.
From New England Granite, top results include 25m @ 0.3g/t gold from 95m and 11m @ 0.7g/t gold from 138m. This marks a ‘positive’ first step for Yandal in understanding the geometry and gold mineralisation in the area.
Though Yandal Managing Director Tim Kennedy touts the results as ‘promising’, the company maintains that there has been insufficient exploration to define a mineral resource for the area, and there is no certainty further exploration will result in a resource estimation.
“Identifying a consistently mineralised position within the complex stratigraphic setting of Oblique gives us a strong incentive to progress exploration across the prospect,” Kennedy says.
“In addition, the results from the New England Granite drilling provide a focus for targeting during future programs.
“The release of the exploration target provides clarity regarding the discovery potential across 4 of our key prospects and why they are a priority for exploration”
The release of the exploration target provides clarity regarding the discovery potential across 4 of our key prospects and why they are a priority for exploration.
We look forward to commencing the next phase of drill testing in the next few weeks.”
While gold is Yandal’s primary exploration focus, the company plans to review the lithium potential of its 3 wholly owned projects in WA.
Alongside Ironstone Well-Barwidgee, Yandal owns the Mt McClure Project in the southern Yandal Belt and the Gordons Project near Kalgoorlie.
Yandal Resources had $4.2 million cash at hand as of June 30, according to its latest annual report.
Write to Joshua Smith at Mining.com.au
Images: Yandal Resources
