Arika Resources has identified 10 significant new gold targets at its Ithaca Prospect near Genesis Minerals’ Ulysses-Orient Well operation, setting the stage for upcoming drill testing at the Kookynie Gold Project.
- 10 priority gold targets defined by ultrafine soil geochemistry
- Targets IGTA 3 and IGTA 5 align with known gold-hosting structures
- Historical drilling at Ithaca showed promising gold intercepts
- Drill testing planned pending regulatory and heritage approvals
- Additional soil assay results expected soon from other project areas
Exploration Breakthrough at Ithaca
Arika Resources Limited (ASX: ARI) has announced a significant advancement in its exploration efforts at the Ithaca Prospect, part of its 80%-owned Kookynie Gold Project in Western Australia. Leveraging ultrafine soil geochemistry, the company has delineated 10 new priority gold targets adjacent to Genesis Minerals’ Ulysses-Orient Well operation, a well-established gold mining hub boasting nearly 8 million tonnes at 3.4 grams per tonne gold.
Among these targets, IGTA 3 and IGTA 5 stand out for their strategic positioning along strike extensions of the Orient Well and Orient Well East gold-hosting structures. IGTA 3 spans approximately 800 by 150 metres along the northeast flank of the Orient Well East/Blevins Find porphyry, with peak gold-in-soil results reaching 78 parts per billion. IGTA 5 covers a larger area of about 2 by 1 kilometres, defined by a complex gold and pathfinder element anomaly at a structural intersection, highlighting its exploration potential.
Historical Context and Geological Potential
Historical wide-spaced, shallow drilling at Ithaca has already yielded encouraging results, including intercepts such as 13 metres at 1.23 grams per tonne gold from 32 metres depth, featuring a standout one-metre interval grading 13 grams per tonne. These results, combined with the new geochemical data, suggest the presence of multiple ore-hosting lodes that have yet to be fully explored or understood.
Arika’s Managing Director, Justin Barton, emphasised the significance of these findings, noting that Ithaca lies adjacent to a prolific gold district with over 2 million ounces produced at the nearby Ulysses Gold Project. He highlighted the systematic approach Arika is taking to refine targets through integrated geophysical and geochemical surveys before advancing to drill testing, aiming to unlock the rich potential of historical mining centers like Cosmopolitan and Altona, which have seen limited modern exploration.
Next Steps and Broader Project Outlook
The company plans to commence drilling at Ithaca once all necessary regulatory approvals, including heritage surveys and permits, are secured. This drilling campaign will employ a combination of aircore, reverse circulation, and diamond core techniques to thoroughly test the priority targets. Meanwhile, assay results from recent soil sampling at other project areas, Mulga Plum and Wandin, are anticipated shortly and will inform further targeting.
Drilling activities at Arika’s Yundamindra Gold Project are also set to resume in early June, with a multi-purpose rig rotating between Yundamindra and Kookynie as targets become ready. This coordinated exploration strategy underscores Arika’s commitment to methodically advancing its portfolio in Western Australia’s highly prospective North-Eastern Goldfields region.
With a strong foundation of historical production, promising new geochemical anomalies, and a clear path to drill testing, Arika is positioning itself to potentially expand its resource base and create significant shareholder value in the near term.
Bottom Line?
Arika’s methodical exploration at Kookynie is poised to reveal new gold resources, but drill results and regulatory clearances will be key catalysts ahead.
Questions in the middle?
- How will upcoming drill results at Ithaca validate the new geochemical targets?
- What impact could discoveries at Kookynie have on Arika’s resource estimates and valuation?
- How soon can regulatory approvals and heritage surveys be completed to enable drilling?