Arika Resources Confirms 2.5km Gold Continuity and Secures $6.55 Million for WA Drilling

Yundamindra Drilling Extends Gold Mineralisation Over 2.5km

Arika Resources (ASX:ARI) has delivered a robust set of assay results from its June 2026 drilling campaign at the Yundamindra Gold Project in Western Australia. The company completed approximately 100 drill holes totalling around 15,000 metres, confirming continuous gold mineralisation over a 2.5-kilometre strike at the Landed at Last area, part of the so-called "Yellow Brick Road" mineralised corridor.

Highlighting the depth potential, the F1 prospect revealed significant extensions with intercepts such as 57 metres at 1.42 grams per tonne (g/t) gold from 125 metres, including high-grade zones of 4 metres at 15.67 g/t and 1 metre at 35.96 g/t. Multiple other holes returned broad mineralised intervals, including 29 metres at 1.50 g/t and 13 metres at 3.78 g/t, demonstrating the prospect's substantial depth and grade potential.

Beyond F1, drilling also uncovered previously unrecognised gold-bearing structures both above and below the main lodes, presenting new targets for follow-up. The Landed at Last area alone hosts several consistent intercepts across subzones like Hinge, Queen of Poland, and Main, with assays ranging from 0.7 g/t to over 2.9 g/t Au over intervals up to 61 metres.

Kookynie Project Surfaces New High-Grade Targets

At the Kookynie Gold Project, Arika defined multiple new target areas through surface sampling and geochemical programs, with 82 samples exceeding 1.0 g/t Au and some assays reaching as high as 109 g/t. This surge in high-grade surface results has propelled the commencement of Reverse Circulation drilling focused on high-priority prospects such as Cosmopolitan, Altona, and Ithaca.

The company secured a $211,000 co-funded drilling grant from the Western Australian Government’s Exploration Incentive Scheme to support deep diamond drilling at the historic Cosmopolitan Gold Mine. This deposit, along with the nearby Altona mine, historically produced significant ounces at exceptional grades but has seen limited modern exploration.

Corporate Moves Bolster Control and Capital

During the quarter, Arika completed the acquisition of the remaining 20% interest in both the Yundamindra and Kookynie projects from Nex Metals, consolidating 100% ownership. This strategic move grants the company full operational and strategic flexibility over its flagship gold assets.

Financially, Arika reported approximately $0.57 million in cash at quarter-end. However, the company has since secured firm commitments to raise about $6.55 million through a placement priced at $0.019 per share, led by Lion Selection Group, which will emerge as a substantial shareholder with a 6.7% stake. Eligible directors intend to participate for approximately $700,000, subject to shareholder approval. The funds will primarily accelerate the expanded drilling campaign and resource growth programs across both projects.

Next Steps in Exploration and Resource Definition

Arika’s Managing Director Justin Barton emphasised the company’s momentum, noting the upcoming 20,000-metre drilling program planned across Yundamindra and Kookynie. This campaign aims to test extensions of known mineralisation, explore new high-grade targets, and advance resource definition work towards maiden Mineral Resource Estimates.

At Yundamindra, drilling will continue to expand zones along both the Yellow and Red Brick Roads and initiate the first-ever test of the Emerald City region in the project’s southern area. Meanwhile, at Kookynie, the drilling will focus on down-plunge extensions beneath historical workings, supported by the government grant.

Metallurgical test work is also underway at Yundamindra using Bottle Roll LeachWELL methods to assess gold recovery potential, an important step towards resource development.