Yandal Resources Ltd. December 2021 Quarterly Activities Report
31.01.2022 | ABN Newswire
Perth, Jan 31, 2022 - Yandal Resources Ltd (ASX:YRL) is pleased to provide a summary of activities for the quarter ending 31 December 2021. The Company has a portfolio of highly prospective 100% owned gold projects located in the Yandal and Norseman-Wiluna Greenstone Belts in Western Australia (Figure 1*).HIGHLIGHTS
Star of Gordon Prospect (Gordons Gold Project)
- High-grade mineralisation confirmed with RC drilling at vertical depths beneath 160m
- 1m @ 19.8g/t Au from 159m (YRLRC668) located down dip from an earlier RC intercept of 10m @ 8.4g/t Au from 43m including 1m @ 52.5g/t Au (YRLRC630)
- Mineralisation is open in all directions, infill and extensional RC drilling is ongoing with 36 holes completed and a five hole diamond drilling program underway - results pending
- New tenement acquisitions double the prospect strike length to ~4km
Malone - Bradman Prospects (Gordons Gold Project)
- 11m @ 2.0g/t Au from 257m including 3m @ 5.8g/t Au from 261m (YRLRC646)
- 27 RC holes and three diamond holes completed - results pending
Gordons Dam Prospect (Gordons Gold Project)
- 5m @ 3.7g/t Au from 28m including 1m @ 16.6g/t Au (YRLRC0683)
- 23m @ 1.2g/t Au from 52m including 2m @ 8.4g/t Au (YRLRC0681)
- 43m @ 0.7g/t Au from 42m including 8m @ 2.0g/t Au (YRLRC0689)
- 23 RC holes completed - results pending
Newport Prospect (Ironstone Well Gold Project)
- New +3km long anomaly defined by air-core drilling located in the immediate footwall of the 268koz Flushing Meadows gold deposit. Follow-up RC drilling planned in March/April
Capital Raising
- A one for six Non-Renounceable Pro-Rata Rights Issue and Shortfall Share Placement was well supported by existing shareholders. The Company had $7.2 million cash at bank at Quarter-end with a further $2.5 million of remaining Shortfall Shares able to be placed prior to 16 March 2022.
*To view the full Quarterly Report with tables and figures, please visit:
https://abnnewswire.net/lnk/XY63CGFK
About Yandal Resources Ltd
Yandal ResourcesYandal Resources (ASX:YRL) listed on the ASX in December 2018 and has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia. Yandal Resources' Board has a track record of successful discovery, mine development and production.
Contact
Yandal Resources Ltd
Lorry Hughes, Managing Director
T: +61-8-9389-9021
E: yandal@yandalresources.com.au
WWW: www.yandalresources.com.au