Four High-Priority Blind Gold Targets Discovered at Pennyweight Point
Arika Resources has identified four new high-priority blind gold targets beneath surficial cover at its Pennyweight Point prospect using cutting-edge geophysical surveys, setting the stage for expanded exploration in Western Australia’s prolific goldfields.
- Four new high-priority bedrock gold targets discovered at Pennyweight Point
- Targets lie within a structurally complex corridor analogous to major regional deposits
- Targets have never been drill tested before
- Modern airborne magnetic and ground gravity surveys applied for the first time at Yundamindra
- Upcoming induced polarization surveys and ongoing 10,000m drilling program planned
Exploration Breakthrough at Pennyweight Point
Arika Resources Limited (ASX, ARI) has announced a significant advancement in its exploration efforts at the Pennyweight Point prospect, part of the Yundamindra Gold Project in Western Australia. Employing ultra-detailed, high-resolution airborne magnetic and ground gravity surveys for the first time at this site, the company has identified four new high-priority 'blind' gold targets concealed beneath surficial cover.
These newly discovered targets are situated within the northeast-trending Pennyweight Point structural corridor, a geologically complex zone marked by intrusive, volcanic, and granitic interactions with intense structural disruptions. This setting is notably analogous to that of some of the region’s most prolific gold deposits, including the Granny Smith and King of the Hills mines.
Geophysical Insights and Target Characteristics
The geophysical data synthesis, conducted by Core Geophysics, revealed discrete magnetic anomalies and gravity signatures indicative of multiple shearing events and potential pyrrhotite-rich bodies. These features suggest the presence of mineralisation styles similar to those already confirmed at Pennyweight Point, where recent drilling has returned thick, high-grade gold intercepts.
Importantly, these four targets; designated PWP1 through PWP4; have never been subjected to drilling, marking them as fresh opportunities for discovery. Their coincidence with strong historical gold, copper, and arsenic soil anomalies further underscores their potential significance.
Strategic Next Steps in Exploration
Arika’s Managing Director, Justin Barton, emphasized the critical role of modern geophysics in unlocking the project’s potential. The company plans to conduct induced polarization (IP) electrical geophysical surveys to refine these targets before integrating them into the ongoing 10,000-metre reverse circulation drilling campaign.
Beyond Pennyweight Point, Arika is advancing the interpretation of airborne magnetic data over the southern half of the Yundamindra Project, with further field mapping, rock chip sampling, and soil geochemical surveys planned to prioritize additional targets.
Context Within a World-Class Gold District
The Yundamindra Project lies within the Laverton Greenstone Belt, a globally recognized gold province hosting multi-million-ounce deposits. Despite a long history of prospect-scale mining and intermittent exploration, the area has seen limited modern systematic exploration, particularly at depth. Arika’s application of advanced geophysical techniques represents a strategic shift aimed at expanding known mineralisation and discovering new deposits hidden beneath extensive surficial cover.
With the Pennyweight Point mineralisation open in all directions and the new targets offering compelling analogues, Arika is positioning itself to potentially unlock significant value in this underexplored gold district.
Bottom Line?
Arika’s integration of modern geophysics with targeted drilling could redefine the scale of gold mineralisation at Pennyweight Point, with upcoming results poised to shape the project’s trajectory.
Questions in the middle?
- How will the upcoming induced polarization surveys refine the new targets before drilling?
- What are the potential resource implications if these blind targets yield significant gold mineralisation?
- Could the structural complexity at Pennyweight Point indicate further undiscovered deposits beyond the current targets?
