Arika Drills 35m at 2.14g/t Au at Pennyweight Point, Extends Landed at Last Mineralisation

Robust Drilling Advances at Yundamindra

Arika Resources Limited (ASX: ARI) has delivered a compelling update on its March 2025 quarter activities, spotlighting substantial progress at the Yundamindra Gold Project in Western Australia. The company completed a 34-hole reverse circulation (RC) drilling program totaling approximately 5,000 metres, complemented by its maiden diamond drilling program comprising three holes for around 500 metres. These efforts targeted the Pennyweight Point and Landed at Last prospects, both situated within structurally complex corridors known for hosting significant gold mineralisation.

At Pennyweight Point, drilling extended mineralisation along a 350-metre strike length and to depths of at least 200 metres, revealing thick zones of gold-bearing rock. Noteworthy diamond drill intersections included 35.76 metres at 2.14 g/t Au and 23.97 metres at 2.54 g/t Au, achieved well below previously tested levels. These results confirm the prospect’s untested strike and plunge potential, with mineralisation remaining open in multiple directions.

Landed at Last Shows Promising Depth and Strike Extensions

The Landed at Last prospect, located along the ‘Yellow Brick Road’ structural corridor, also saw significant extensions. The Phase 2 drilling program expanded the mineralised zone to over 800 metres strike length and at least 150 metres depth. Assays from RC drilling returned consistent gold grades, including 28 metres at 1.40 g/t Au and 17 metres at 1.57 g/t Au. Diamond drilling at the F1-Fault Prospect intersected 14.8 metres at 3.10 g/t Au, extending mineralisation 40 metres down-dip from historical holes and confirming the fault’s substantial untested potential.

New Targets and Geological Insights

Beyond these primary prospects, Arika’s geochemical data synthesis identified 27 new target areas across Yundamindra. Among these, the Banjo’s Camp prospect stands out with extensive quartz reefs spanning approximately 4.5 kilometres and rock chip samples yielding up to 5.3 g/t Au. The company plans to commence drilling at these new targets following regulatory approvals, aiming to build on the growing pipeline of opportunities.

Diamond drilling has also provided valuable geological insights, revealing that gold mineralisation is closely associated with pyrite and copper sulphides within altered tonalite and basalt host rocks. This understanding is expected to refine targeting strategies in upcoming exploration phases.

Kookynie Project Accelerates Following Independent Review

In parallel, Arika commissioned an independent technical review of its Kookynie Gold Project, which shares geological and historical similarities with Yundamindra. The review highlighted multiple under-explored high-grade prospects and structural settings, including the historically productive Cosmopolitan and Altona mines. This has prompted an accelerated exploration program, with soil and auger sampling underway at priority targets such as Ithaca, Wandin, and Mulga Plum. Assay results from these programs are awaited.

Financial Position and Outlook

As at 31 March 2025, Arika reported cash reserves of approximately $1.024 million, having expended around $1.068 million on exploration during the quarter. The company is currently in a trading halt pending an announcement regarding a capital raise, which management indicates will support ongoing and expanded drilling activities. Managing Director Justin Barton emphasised the exciting exploration momentum and the potential for large-scale gold discoveries at both projects over the next 12 to 18 months.