Arika Commences 5,000m Drilling to Expand High-Grade Gold Zone
Arika Resources has initiated a significant 5,000m drilling campaign at Pennyweight Point, aiming to extend known high-grade gold mineralisation and test new geophysical targets within the Yundamindra Gold Project in Western Australia.
- 5,000m Reverse Circulation drilling commenced at Pennyweight Point
- Recent IP, magnetic, and gravity surveys refined gold targets
- Focus on extending high-grade mineralisation and testing new 'blind' targets
- Joint venture with Nex Metals – Arika holds 80%, Nex Metals 20%
- Drilling supports maiden resource estimation and resource growth strategy
Drilling Program Underway at Pennyweight Point
Arika Resources Limited (ASX – ARI) has kicked off an extensive Reverse Circulation (RC) drilling program at its Pennyweight Point prospect, part of the Yundamindra Gold Project in Western Australia’s prolific Laverton Greenstone Belt. The campaign, targeting approximately 5,000 metres, aims to expand on previously reported high-grade gold mineralisation and to test newly identified geophysical targets.
The drilling program is structured in three phases – initially focusing on extending the strike, plunge, and depth of known mineralised zones; secondly, testing new high-priority 'blind' targets identified through recent Induced Polarisation (IP), airborne magnetic, and ground gravity surveys; and finally, conducting close-spaced orebody definition drilling to support maiden resource estimation modeling.
Geophysical Surveys Refine Targeting
Recent geophysical work has played a pivotal role in refining the exploration strategy. The IP surveys, complemented by ultra-detailed airborne magnetic and ground gravity data, have delineated key structural controls and resistivity gradients that correlate with gold mineralisation. These surveys have identified four new high-priority bedrock gold targets along the Pennyweight Point structural corridor, which remain untested and hold potential for breakthrough discoveries.
Arika’s Managing Director, Justin Barton, highlighted the significance of these advances – "The knowledge gained from our recent geophysical programs has significantly enhanced our understanding of the ore-hosting structures and where extensions of high-grade mineralisation are most likely to be found. Pennyweight Point is shaping up as a primary focus for resource development alongside the Landed at Last prospect."
Promising Historical and Recent Results
Historical and recent drilling at Pennyweight Point has confirmed a wide, high-grade lode gold system hosted within tonalite in sheared contact with mafic volcanic rocks. Notable intercepts include 35.76m at 2.14g/t gold and 23.97m at 2.54g/t gold, with higher-grade zones within these intervals. The mineralised zone extends over a strike length of 350 metres and remains open in all directions, underscoring the potential for resource growth.
The project is a joint venture with Nex Metals, where Arika holds an 80% interest and acts as project manager. The Yundamindra Gold Project is strategically located near established processing facilities in the Laverton Greenstone Belt, a region known for multi-million ounce gold deposits.
Next Steps and Market Implications
As drilling progresses, Arika plans to continuously release assay results and interpretations. The integration of geophysical data with drilling outcomes will be critical in refining the geological model and guiding further exploration. Success at Pennyweight Point could significantly enhance Arika’s resource base and position the company as a key player in one of Australia’s premier gold provinces.
Bottom Line?
Arika’s drilling campaign at Pennyweight Point could unlock substantial new gold resources, setting the stage for a transformative phase in the Yundamindra Project’s development.
Questions in the middle?
- How will the new geophysical targets compare in grade and scale to the known mineralisation?
- What timeline can investors expect for maiden resource estimation and potential development milestones?
- How might ongoing gold price volatility impact the economic viability of the expanding resource?
