Arika Resources Unveils 25+ New Gold Targets, Raises $3.2M to Accelerate Yundamindra Drilling
Arika Resources has expanded its exploration footprint at the Yundamindra Gold Project with over 25 new high-priority gold targets identified and a $3.2 million capital raise to fast-track drilling programs. The company awaits assay results from recent drilling that could redefine the project's scale.
- Completed 11 holes (~1,350m) of Phase 2 RC drilling at Pennyweight Point
- Identified 25+ new high-priority gold targets across Yundamindra via advanced geophysical analysis
- Raised $3.2 million to accelerate drilling and exploration activities
- Phase 2 drilling recommenced in January focusing on Pennyweight Point, Landed at Last, and Queen of May prospects
- Early-stage review of Kookynie Gold Project reveals promising targets for near-term drill testing
Exploration Momentum Builds at Yundamindra
Arika Resources has made significant strides in its December 2024 quarter activities, particularly at the Yundamindra Gold Project located southwest of Laverton, Western Australia. The company completed an initial 11-hole Reverse Circulation (RC) drilling campaign totaling approximately 1,350 meters at the Pennyweight Point prospect. This Phase 2 drilling program aims to extend the depth and strike of previously reported high-grade gold intercepts, including standout results such as 14 meters at 15.48 g/t Au and 30 meters at 3.86 g/t Au.
Following this, Arika recommenced an expanded Phase 2 drilling program in January 2025, targeting around 5,000 meters of RC drilling. The focus remains on Pennyweight Point and the Landed at Last prospects, with additional holes planned to test the Queen of May structure, situated about 5 kilometers south along strike from Landed at Last. This strategic drilling approach seeks to delineate the primary mineralised structures and explore depth extensions beyond the historically shallow drilling depths of less than 50 meters.
Structural Insights Unlock New Targets
During the quarter, Arika applied advanced data filtering techniques to multiple regional and local geophysical datasets, resulting in a comprehensive structural interpretation of the Yundamindra project area. This analysis revealed over 25 new high-priority, untested gold targets beyond the zones of recent drilling. The mineralisation is closely associated with major fault corridors trending NW-SE and NNE-SSW, with the Pennyweight Point mineralisation confirmed on the easternmost fault extending at least 4.5 kilometers along strike.
Notably, the south-central zone, where the western and eastern structural corridors converge, has emerged as a compelling new exploration area. Field mapping identified multiple large east-west trending quartz veins extending over 4 kilometers, accompanied by extensive historical alluvial gold workings previously unrecorded. Rock chip sampling from this zone is underway, with assay results anticipated shortly.
Capital Raising Fuels Exploration Acceleration
To support its aggressive exploration agenda, Arika successfully completed a $3.2 million placement during the quarter. These funds are earmarked to accelerate drilling activities at Yundamindra and bolster working capital. With approximately $2.3 million cash on hand at quarter-end and exploration expenditure of around $648,000 during the period, the company is well-positioned to sustain its momentum.
Managing Director Justin Barton expressed optimism about the project's potential, highlighting the scale of the structural corridors and the multitude of historical workings as indicators of a significant discovery opportunity. He emphasised that the company is only beginning to scratch the surface of what could be a transformative gold project.
Early Signs at Kookynie and Other Projects
In addition to Yundamindra, Arika initiated a detailed review of its Kookynie Gold Project during the quarter. Although still in the early stages, the technical team has identified several compelling targets warranting immediate follow-up drilling. Results and exploration plans for Kookynie are expected to be announced in the near term.
Meanwhile, exploration at the Admiral Bay and Queensland projects remains on hold, with the company prioritising its Western Australian gold assets. No safety incidents were reported during the quarter, underscoring a strong operational focus.
Looking Ahead
Arika Resources is poised for a pivotal phase as assay results from the recent Phase 2 drilling at Pennyweight Point and rock chip sampling from the south-central zone are awaited. These results will be critical in validating the structural model and guiding subsequent drilling campaigns. With a robust pipeline of over 25 new targets and fresh capital to deploy, Arika’s exploration story at Yundamindra is gathering compelling momentum that could reshape its resource potential.
Bottom Line?
As assay results loom, Arika’s expanding target portfolio and fresh funding set the stage for a potentially transformative year at Yundamindra.
Questions in the middle?
- Will the upcoming assay results confirm extensions of high-grade mineralisation at Pennyweight Point?
- How will the newly identified 25+ gold targets influence Arika’s resource estimation and project valuation?
- What exploration strategy will Arika adopt for the promising Kookynie targets following the initial review?
