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Recent Drilling Results and Ongoing Technical Review Highlights Significant Depth S Strike Potential at Yundamindra
Arika Resources Limited (ASX: ARI) (“Arika” or “Company”) is pleased to announce that it has commenced a review C synthesis of all geoscientific datasets over it’s Yundamindra Gold Project (“Yundamindra”) situated 65km southwest of Laverton in the world class eastern goldfields mining district of Western Australia.
KEY HIGHLIGHTS
- Data filtering confirms much of the Yundamindra Project area remains unexplored despite the discovery of shallow high-grade gold mineralization at numerous prospects including Pennyweight Point C Landed at Last.
- ~75% of historical holes were restricted to the weathered zone and drill depths of less than 50m.
- ~G7% of historical holes were restricted to drill depths of less than 80m.
- A total of 34 holes only, including recent drilling by Arika, have been drilled beyond 100m depth and only 4 holes have been drilled deeper than 200m.
- The entire Western Corridor (Landed at Last) remains unexplored beneath 80m depth over a strike length in excess of 10km’s.
- The review highlights clear depth C strike potential across the greater Yundamindra Project area including Pennyweight Point C Landed at Last where Arika’s recent maiden drilling campaigns reported a series of exceptional and extensional results including1,2,3,4:
- Pennyweight Point
- 14m @ 15.48 g/t Au from 46m (YMRC077);
- 33m @ 3.35 g/t Au from 22m (YMRC071);
- 33m @ 2.63 g/t Au from 85m (YMRC063);
- 30m @ 3.86 g/t Au from 8Gm (YMRC06G)
- 30m @ 2.36 g/t Au from 64m (YMRC060)
- Landed at Last
- 30m @ 2.26 g/t Au from 26m (YMRC050)
- 40m @ 1.22 g/t Au from 30m (YMRC048);
- 26m @ 1.46 g/t Au from 22m (YMRC046);
- Pennyweight Point
- A review of all geophysical and geochemical data is in progress to guide ongoing targeting.
- Follow-up drilling at the Yundamindra Project, commencing at Pennyweight Point C Landed at Last, is on schedule to re-start next week.
The work has revealed that the vast majority of historical holes, which were completed in the 1980’s- 1990’s, were restricted to the near surface weathered zone and drill depths of less than 80m.
Arika’s Managing Director Justin Barton said:
“Having completed a highly successful maiden drilling program on three prospects at Yundamindra, that delivered outstanding results, we are excited to provide an update of our review and analysis of all historical data and our recent drilling results. Despite the project appearing to have seen extensive drilling, mainly in the 80s and 30s, analysis shows that ~37% of all historical holes were restricted to the weathered zone and drill depths of less than 80m, where drilling was essentially blade refusal (RAB/ aircore) targeting shallow high-grade oxide resources.
This presents an exciting opportunity for Arika as the mineralisation essentially remains unexplored at depth and along strike, providing a great opportunity for a significant further gold discovery outside of the shallow oxide as we chase the source of the mineralisation in the underlying bedrock and along strike.
As we continue to review all geological and geochemical data, we are also eager to recommence drilling, anticipated to re-start next week, as we begin to test the extensions to the Pennyweight Point and Landed at Last prospects”.
Review of results and historical datasets at Yundamindra
Arika’s recently completed drilling programs at Yundamindra, the first in over 10 years at the project, consisted of 77 reverse circulation (RC) drillholes (YMRC001-YMRC077) for a total metreage of approximately 6,000m5,6.
The primary objectives of this phase were to validate historical results and to test for bedrock hosted gold mineralisation beneath the shallow historical occurrences.
The objectives have been achieved, with each campaign delivering spectacular results, firmly establishing the potential for Yundamindra to host a significant gold deposit.
Results for all of the drilling completed to date were reported in the Company’s ASX announcements:
- “Maiden Yundamindra Program Delivers Excellent Gold Results” dated 15 July 2024
- “More Impressive Gold Intersections Returned at Yundamindra” dated 22 July 2024
- “Exceptional 30m @ 3.86 g/t Au Intercept at Yundamindra” dated 20 September 2024
- “Pennyweight Point Delivers More Thick High Grade Hits” dated 26 September 2024
- “Exceptional Gold Results from Pennyweight Point Drilling” dated 23 October 2024, and
- “More Outstanding Gold Intercepts Grow Scale at Yundamindra” dated 06 November 2024
An analysis of our recent drilling results, in conjunctions with a review of all historical datasets has revealed that despite the known prospects at Yundamindra appearing to have been extensively drilled (Figure 1 below), further interrogation of the data reveals that ~97% of all drilling has been limited to weathered zones and depths of less than 80 metres (Figure 2).
Click here for the full ASX Release
This article includes content from Arika Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Thom Calandra: Gold vs. Bitcoin, Platinum Outlook, 4 Biggest Stock Positions
Thom Calandra of the Calandra Report joined the Investing News Network to discuss his thoughts on gold vs. Bitcoin as the popular cryptocurrency faces both a high price and high volatility.
He acknowledged that many gold investors still aren't interested in Bitcoin, but said he sees pros and cons.
"I'm not going to say anything bad about Bitcoin because it has the blockchain behind it, and most Fortune 1000 companies have blockchain technology for products and services — it's an asset, it's a valid asset," Calandra said.
He also explained why he's bullish on platinum and why he's interested in the shipping sector.
"I would say that the only other sector I'm interested in personally is shipping," Calandra commented.
"When it comes to shipping, it's probably as sensitive to geopolitics as gold. I invest in the small shippers, the ones that return 80 or 90 percent of their profits to investors in the form of dividends — DHT Holdings (NYSE:DHT) is one."
In closing, Calandra shared his four largest positions heading into 2025: Ivanhoe Mines (TSX:IVN,OTCQX:IVPAF), Alamos Gold (TSX:AGI,NYSE:AGI), Xtra Gold Resources (TSX:XTG) and EMX Royalty (TSXV:EMX,NYSEAMERICAN:EMX).
Watch the interview above for more of his thoughts on those topics.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Breathing New Life into Australia’s Historic Hill End Gold District
Many resource-rich regions are dotted with historical mines, some of which have since become tourist sites. But not all old mines should remain dormant. In fact, some former producers can serve again as successful working mines.
There are numerous benefits to revitalising a historic mine. One is that they have proven resources, with new technologies aiding in expanding those resources even more. Others are that historical data is readily available, and nearby infrastructure makes resuming production straightforward.
To find mines with a rich history and more potential, look no further than New South Wales. The town of Hill End is one such place. It made mining history centuries ago and it’s now emerging as a location with more gold to offer.
Hill End’s story
Gold was discovered in this area in Central-Western New South Wales in 1851 when there was almost nothing there, just a hotel and two stores. Hill End turned into a significant alluvial gold-mining precinct at a location called Tambaroora, where some tens of thousands of Europeans and Chinese worked the gravels.
It has been conservatively estimated that the alluvials yielded some 800,000 ounces of fine gold.
In October 1872, the Star of Hope Gold Mining Company discovered the Holtermann’s nugget, the largest specimen of reef gold ever found. It weighed 286 kilograms and measured 150 centimetres by 66 centimetres, with an average thickness of 10 centimetres. (It’s not actually a nugget, but a quartz specimen infused with veins of gold.
That discovery, plus other active mining operations — including the Hawkins Hill mine, which yielded 435,000 ounces at 309 grams per tonne — caused the population of Hill End to soar, becoming one of the largest inland towns in New South Wales. The entire goldfield region was estimated to be home to 30,000 people at one point.
The boom town went bust by 1874, with much of it closing down and the population declining into the hundreds over the next few decades. In the 1920s, mining activity returned briefly to the region.
During its heyday, Hill End yielded 50 tonnes of gold. Today, Hill End remains an illustrious region known for its untapped potential.
A return to Hill End
One company believes Hill End’s gold story is far from over.
Vertex Minerals (ASX:VTX) is resurrecting operations at the Reward gold mine, part of its Hill End project. Production is scheduled to commence in 2025, with a resource estimated at 485,000 ounces of gold. The company has tenure over 155 square kilometres of land, seven granted exploration licences, one gold lease and 10 mining leases.
Vertex’s Hill End project comprises three assets — Reward, Red Hill and Hargraves — with a combined mineral resource of 4.21 million tonnes of gold. The Reward mine alone has an indicated resource of 141,000 tonnes at 15.5 grams per tonne gold for 71,000 ounces of contained gold, and 278,000 tonnes at 17.3 grams per tonne gold for 155,000 ounces of contained gold in the inferred category.
According to Roger Jackson, executive chairperson of Vertex, the benefits of working on a well-developed historical mining site are many. Reward has significant underground development with some $25 million already spent on an air intake shaft, a 1 kilometre adit and mine development access to high-grade gold stopes. Reward also has a gravity gold-processing plant that can recover uniquely 92 percent of the gold by simple gravity means. Vertex is in the process of upgrading this plant and adding an ore sorter into the flow sheet with expected exception results.
“All the environmental footprint has already been stamped on the location. We understand the geology, we understand the metallurgy,” said Jackson.
A modern approach
“The Reward mine has the potential to grow to a significant size due to the near-mine potential of further high-grade ore to be drilled and resourced. The Reward resource is only drilled to about 100 metres below the amalgamated adit, so (with) further drilling below this is likely to be fruitful,” added Jackson.
Developing and restarting the Reward mine is just part of Vertex’s plans for Hill End, which include reinstalling a refurbished 110,000 tonne per year Gekko gravity gold plant and commencing gold production from existing stockpiles. The company also plans to increase Hill End’s high-grade resource through further exploration and drilling.
The company has just purchased its own drill rig so it can maintain a focused, constant, long-term drilling effort to build on the high-grade gold inventory.
Current approaches to mining and extraction, meanwhile, can one-up historical processes to be more ecologically aware. The use of gravity separation for processing ore at the Reward mine will lead to high-grade gold with a low-cost process that will be far less environmentally concerning than methods used at most facilities. Gravity technology uses the natural force of gravity to separate valuable minerals from waste material, and minimises the use of harsh chemicals in the process. This method is particularly effective for gold extraction in unique gold ore like the Reward.
Investor takeaway
Revitalising historic mining facilities comes with many benefits for companies and their investors. These former producers are more straightforward to develop due to existing resources and infrastructure, and can offer a more cost-effective mine restart and significant potential for near mine resource expansion through exploration.
This INNSpired article is sponsored by Vertex Minerals (ASX:VTX). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Vertex Mineralsin order to help investors learn more about the company. Vertex Minerals is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Vertex Minerals and seek advice from a qualified investment advisor.
Don Hansen: Gold, Silver Stocks "Extraordinarily Undervalued," Data Shows What's Next
Private investor Don Hansen has honed his resource sector investment approach for more than 20 years, and he shared his latest research in a conversation with the Investing News Network.
Focusing on the state of the US monetary system and how it relates to gold, he explained that the gold price is poised to rise, which presents strong opportunities in both gold and silver stocks.
"We are at a critical point where this is a phenomenal investment opportunity," Hansen said.
"The (stocks) that I like the best are the ones that are not only profitably producing, they're in the bottom quartile (for costs), they're in good locations, they have good management — and they have exploration projects within their portfolio which if they develop and get it into a mine would double their production in three years or less."
Hansen's current favorite companies are K92 Mining (TSX:KNT,OTCQX:KNTNF), G Mining Ventures (TSX:GMIN,OTCQX:GMINF), Aris Mining (TSX:ARIS,NYSEAMERICAN:ARMN) and Aya Gold & Silver (TSX:AYA,OTCQX:AYASF).
Watch the interview above for more on the topics discussed above, as well as the outlook for the US dollar, thoughts on the BRICS nations and the impact of the US presidential election.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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