Yandal Resources Ltd (ASX:YRL) has received promising results from a 13-hole reverse circulation drill program testing the Oblique and New England Granite (NEG) prospects at the Ironstone Well-Barwidgee (IWB) Gold Project, which showed grade continuity and large-scale potential.
The results have allowed the company to generate a conceptual exploration target of 12.9-38.6 million tonnes grading 1.1-1.4 g/t gold for 0.44-1.78 million ounces for four of IWB’s key prospects - Oblique, Quarter Moon, Flushing Meadows and NEG.
Additionally, it has vindicated the ASX-lister’s exploration strategy to pursue prospects such as Oblique and NEG, which have the potential to deliver low-cost and large-scale resource growth.
Significantly, the proximity of the two prospects to the Flushing Meadow deposit is an opportunity for the company to discover and delineate a potentially open pit gold camp.
This exploration target does not include the existing Flushing Meadows mineral resource estimate of 268,000 ounces for 1.1 g/t gold published in 2020.
Diving in
Yandal completed nine holes for 1,173 metres across 750 metres of strike at Oblique.
The program was initially planned to comprise 16 holes, but due to difficult drilling conditions, the rest were deferred until a rig more suited to the conditions could be mobilised to the site next month.
Nevertheless, drilling has extended the mineralisation by 300 metres to the south for a total strike length of 1,100 metres and remains open in all directions.
Notable intersections include:
- YRLRC1156 - 24 metres at 0.7 g/t gold from 26 metres, including 8 metres at 1.2 g/t gold and 3 metres at 1.3 g/t gold;
- YRLRC1156 - 12 metres at 1.1 g/t gold from 84 metres to the end of hole (EOH), including 2 metres at 2.8 g/t gold and 6 metres at 1.5 g/t gold; and
- YRLRC1159 - 5 metres at 2.8 g/t gold from 62 metres, including 2 metres at 6.0 g/t gold.
Testing of some of the deeper targets has been deferred until early in 2024, when a diamond core rig can be deployed.
Meanwhile, results from the small four-hole, 598-metre RC program at NEG have provided valuable insights into the geometry of low-level anomalism and mineralisation at the prospect.
Significant intercepts include:
- YRLRC1151 - 25 metres at 0.3 g/t gold from 95 metres;
- YRLRC1152 - 11 metres at 0.7 g/t gold from 138 metres, including 6 metres at 1.1 g/t gold; and
- YRLRC1153 - 20 metres at 0.6 g/t gold from 42 metres, including 3 metres at 3.2 g/t gold.
“Promising” results
“These results are promising, particularly given that difficult drilling conditions encountered at Oblique resulted in a number of holes failing to reach targeted depths,” Yandal Resources managing director Tim Kennedy said.
“Identifying a consistently mineralised position within the complex stratigraphic setting of Oblique gives us a strong incentive to progress exploration across the prospect.
“In addition, the results from the New England Granite drilling provide a focus for targeting during future programs.
“The release of the exploration target provides clarity regarding the discovery potential across four of our key prospects and why they are a priority for exploration.
“We look forward to commencing the next phase of drill testing in the next few weeks.”
Coming up
An active fourth quarter should keep the explorer busy until the year end with activities including:
- Follow-up exploration drilling in early November across the Oblique Prospect. This will include a number of shallow RC holes to further test the mineralisation within the currently defined limit and further south. In addition, preparations are underway for diamond drilling in early 2024.
- The refinement of exploration targets for follow-up RC drilling across the 4.2-kilometre eastern granite margin of the NEG Prospect is underway. The company has submitted an application for Exploration Incentive Scheme (EIS) co-funding to support the completion of two deep (400 metres) diamond holes. Drilling is scheduled for the early 2024 field season.
- Preparation for drill-testing Quarter Moon in the first half of next year.
- Finalisation of exploration targets and drilling strategy across the expanded Gordons Gold Project.
- Review lithium potential of all three 100%-owned projects, including “bottom of hole” multi-element sampling and analysis and prospectivity mapping.