Yandal Resources Ltd: Phase 1 Resource Expansion Drilling Program at Mt McClure
07.11.2022 | ABN Newswire
Perth, Australia - Yandal Resources Ltd. (ASX:YRL) is pleased to advise that an RC drilling program has commenced on its 100% owned Mt McClure Project. The Mt McClure Project is located 15km SW of the historic Bronzewing gold mine and 10km from Orelia gold mine both owned by Northern Star Resources Ltd. (ASX:NST) in the southern Yandal Belt (Figure 1*).During the September 2022 quarter, the Company completed initial Mineral Resource Estimates ("MRE's") on the margins of the Success, Parmelia and Challenger historic open cuts which resulted in a combined Resource inventory of 2.225Mt @ 1.9g/t Au for 136,000oz at a 1.0g/t lower cut-off.
The MRE boundaries were drill constrained indicating clear potential to expand the initial estimates with further targeted drilling along strike, down-dip and down plunge. The current drilling program is the first phase of a multi-phase drilling program designed to expand the Resource base at Mt McClure. Drilling will target positions proximal to the margins of the current MRE's as well as testing a number of advanced prospects with resource potential, occurring along a 10km long trend on granted mining leases within Yandal's tenure (Figure 2*).
The program will take approximately 3 weeks to complete with results expected in the March Quarter 2023.
Commenting on the commencement of drilling, Yandal Resources' Managing Director Mr Tim Kennedy said: "Our recent capital raising was primarily undertaken to provide funds for us to test the resource potential at Mt McClure, which was highlighted through the completion of the initial MRE. We're pleased to be commencing this initial drilling program, to be built upon by additional programs in the new year which together will help unlock the value of this highly mineralised tenure."
DECEMBER QUARTER EXPLORATION PLANS
Priority exploration activities planned for Q4 2022 include;
1. Review historic and recent drilling data at the Mt McClure to establish controls on potential higher grade plunging shoots.
2. RC drill testing at Mt McClure to expand the initial Mineral Resource Estimates at Challenger, Success and Parmelia.
3. Integration of new high resolution aeromagnetic survey data and RC follow-up along the high-grade Sims Find trend and other advanced prospects at Barwidgee.
4. Review of key prospects at Gordon's and drill hole planning.
*To view tables and figures, please visit:
https://abnnewswire.net/lnk/492P6DTB
About Yandal Resources Ltd:
Yandal 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.
Source:
Yandal Resources Ltd.
Contact:
Tim Kennedy Managing Director - CEO Yandal Resources Ltd. E: yandal@yandalresources.com.au Bianca Taveira Company Secretary T: +61-8-9389-9021 E: yandal@yandalresources.com.au