Arika Resources reported high-grade gold results from their recent drilling program at the Pennyweight Point prospect.
The Yundamindra Gold Project (80% owned by Arika, 20% by Nex Metals (ASX:NME)) yielded notable gold intersections including 30m @ 2.36 g/t Au from 64m (YMRC060), and 23m @ 2.84 g/t Au from 53m (YMRC059).
The recent results follow last week's report of a significant 30m @ 3.86 g/t Au from 89m (YMRC069).
Arika has received assays for 11 holes with assays pending for another 22 drill holes.
"These results show we are onto something quite significant. These intersections extend previously known mineralisation and expand the gold footprint in the area," said Justin Barton, Managing Director of Arika Resources.
The Yundamindra Gold Project is strategically located 65km southeast of Leonora.
The shallow high-grade mineralisation presents promising potential amidst rising gold prices, and the company plans to continue its drilling efforts to further delineate the extent of the gold system.
Assay results validate historical findings, highlighting the project's continuity and potential depth.
Upcoming assays are expected in the following weeks, promising further detailed insights into the mineralisation pattern at Pennyweight Point.