Yandal Resources Ltd (ASX:YRL) continues to grow its gold inventory in Western Australia through an initial 20,000-ounce resource estimate at the Gordons Dam deposit within the 100%-owned Gordons Project near Kalgoorlie.
The inferred mineral resource estimate (MRE) of 365,000 tonnes at 1.7 g/t gold and reported above a 1.0 g/t lower cut-off grade takes Yandal’s total resource at its WA projects to 424,000 ounces at 1.3 g/t.
Growth potential
There is plenty of potential to grow the Gordons Dam resource as the MRE has been defined to a maximum vertical depth of 120 metres and mineralisation remains open at depth.
Recent 3D modelling by YRL indicates that intrusive unit controlling primary mineralisation plunges to the north and remains open.
Investors have warmed to the new estimate with shares 8.7% higher in the first hour of ASX trading to $0.10.
Future drill target
Managing director Tim Kennedy said: “The Gordons Dam deposit represents a new discovery made by Yandal from tenements which formed part of its ASX listing in 2018.
“The deposit consists of laterite and paleochannel hosted mineralisation overlying both weathered and fresh bedrock hosted mineralisation. Bedrock mineralisation remains open down-plunge and along strike.
“Recent 3D geological modelling indicates that a felsic intrusion, likely a key mineralisation control, plunges to the northeast and represents a potential future drill target."
“Importantly, Gordons Dam highlights that new shallowly covered mineralisation can still be discovered within a short drive of Kalgoorlie.”
About Gordons
The Gordons Project is about 35 kilometres north of Kalgoorlie in the prolific Eastern Goldfields of WA.
It covers around 52 square kilometres of tenure adjacent to operating mines at Gordon Sirdar and Mulgarrie and is close to third-party and publicly-owned haulage infrastructure.
Gordons tenement plan showing location of the Gordons Dam deposit, major prospects, interpreted bedrock lithology, major structures and proximity to nearby mines.
The MRE was compiled by Andrew Bewsher of BM Geological Services and reported in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).
YRL’s MRE model extends from about 30 metres beneath the surface to a maximum vertical depth of about 120 metres.
Drilling down-dip and along strike of the MRE wireframes has intersected mineralisation indicating potential to expand the MRE with further infill and extensional drilling.
Further exploration targets
High-grade exploration targets at Malone, 600 metres southwest of Gordons Dam, and at the nearby Star of Gordon, Meuleman and Zoehrer prospects will be evaluated further prior to any further drilling at Gordons Dam.
“Yandal has numerous targets in its Gordons Project with strong discovery potential that have yet to be thoroughly tested,” Kennedy said.
“Its portfolio includes high-grade prospects at Malone and Star of Gordon and new mineralisation at Zoehrer immediately along strike from the operating Gordon-Sirdar mine.
“The company has a busy schedule of exploration activities planned for the first half of 2023 in line with its stated priority to test the full potential of these and other prospects.”
Planned exploration
Priority exploration activities include:
- Complete 3D modelling of historic and recent drilling data at Mt McClure to establish controls on potential higher grade plunging shoots for follow-up drill testing.
- Assess results of aircore drill testing of new structural and geochemical targets at Mt McClure and Ironstone Well/Barwidgee (results pending).
- 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.
- Complete a targeting study at Ironstone Well/Barwidgee assessing some of the lesser explored areas along potential second and third order structures in preparation for future drill testing.
- Integrate recent 3D modelling of Gordons geology to assist in prioritising key prospects at Gordons and follow-up drill testing.