Arika Resources reports outstanding new high-grade gold intercepts at Pennyweight Point, extending mineralisation along strike and depth within the Yundamindra Gold Project. The results underpin plans for a maiden Mineral Resource Estimate and highlight underground mining potential.
- 21m @ 4.65g/t Au from 251m, including ultra-high-grade zones
- Mineralisation confirmed over 350m strike length and 250m vertical depth
- Drilling accelerated with a second rig to expand resource definition
- Agreement in place to move from 80% to 100% ownership of Yundamindra
- Potential for future underground mining indicated by increasing grades at depth
Exceptional Drilling Results at Pennyweight Point
Arika Resources Limited (ASX: ARI) has delivered a strong start to 2026 with significant new assay results from its ongoing drilling program at the Pennyweight Point prospect, part of the Yundamindra Gold Project in Western Australia. The standout intercept of 21 metres grading 4.65 grams per tonne gold from 251 metres depth, including zones grading as high as 19.39 grams per tonne, marks the deepest and one of the highest-grade holes drilled on the project to date.
This latest drilling campaign has successfully extended the known high-grade mineralisation both along strike and at depth, confirming continuity of gold over a 350-metre strike length and down to a vertical depth of 250 metres. Importantly, the mineralisation remains open, suggesting further expansion potential.
Strategic Advancement Towards a Maiden Resource
With these results, Arika is well-positioned to advance Pennyweight Point towards a maiden Mineral Resource Estimate. Managing Director Justin Barton emphasised the significance of the findings, noting that the recent drilling not only doubled the width of a key intercept but also revealed increasing grade tenor at depth, which bodes well for potential underground mining scenarios.
The company has accelerated its drilling efforts, adding a second reverse circulation rig to the program to maintain momentum. Assays are also pending from other nearby prospects, including F1-Fault and Landed at Last, promising a steady flow of news in the coming months.
Yundamindra Project Context and Ownership
Located 65 kilometres southwest of Laverton in the prolific Laverton Greenstone Belt, the Yundamindra Gold Project benefits from proximity to world-class gold mines such as Sunrise Dam and Wallaby. Arika currently holds an 80% interest in the project with an agreement to acquire 100%, subject to completion conditions, which would consolidate its control over this strategically important asset.
The geological setting is typical of orogenic gold deposits, with mineralisation hosted along shear zones at the contact between granodiorite intrusions and greenstone sequences. The Pennyweight Point prospect lies within the Eastern Corridor’s Red Brick Road trend and has been the focus of systematic drilling to delineate extensions of oxide and fresh rock mineralisation.
Looking Ahead: Exploration and Development Prospects
Arika’s exploration team, led by General Manager Exploration Steve Vallance, continues to apply rigorous sampling and quality control protocols, ensuring confidence in assay results. The company’s methodical approach to drilling and data verification underpins its strategy to build a robust resource base.
With the mineralisation open at depth and along strike, and with high-grade zones confirmed, the project holds promising upside for resource growth and eventual mining development. The addition of a second rig and ongoing assay results from multiple prospects suggest that Arika is gearing up for a pivotal year in its exploration journey.
Bottom Line?
Arika’s expanding high-grade footprint at Pennyweight Point sets the stage for a transformative resource update and potential underground mining future.
Questions in the middle?
- How will pending assays from 39 holes influence the overall resource model?
- What timeline is Arika targeting for the maiden Mineral Resource Estimate release?
- How might the move to 100% ownership impact project development and financing?