Yandal Resources Ltd (ASX:YRL) has enhanced the standing of its Mt McClure Gold Project in Western Australia’s Yandal Greenstone Belt with a maiden resource estimate (MRE) of 75,000 ounces at the Success deposit.
The 1.255 million tonnes at 1.9 g/t gold inferred resource builds on the MRE of 718,000 tonnes at 1.9 g/t for 44,000 ounces reported for the Challenger deposit with an MRE for a third historic mining area, Parmelia, being progressed.
As well as taking the Mt McClure resource to date to 119,000 ounces, the Success resource takes the company’s total gold inventory to 387,000 ounces.
In prolific area
Yandal’s 100%-owned Mt McClure Project covers 36 square kilometres of tenure about 20 kilometres southwest from the historic Bronzewing mine and is close to existing haul roads and Northern Star Resources (ASX:NST)' Orelia Development.
It is within the Southern Trend of the historic Mt McClure mining camp which has an overall gold endowment of >1.8 million ounces from a number of open pits covering a strike length of some 45 kilometres.
“Highlights strategic value”
Managing director Tim Kennedy said: "We are extremely pleased with the initial mineral resource estimate of 75,000 ounces at Success. It builds on the 44,000-ounce MRE reported for Challenger in August and confirms what a fantastic asset Mt McClure is to the company.
"To have these ounces contained within granted mining leases, close to haulage infrastructure, and with Northern Star’s Orelia development within 10 kilometres of our tenement boundary, highlights the strategic value of the project.”
Three mining areas
Mt McClure Project includes three historic mining areas - Challenger, Success and Parmelia - which all have substantial mineralisation beneath the base of mining as defined by historic and more recent drilling by Yandal Resources.
Mt McClure Project plan showing recent drilling, interpreted bedrock lithology, major structures and proximity to third party prospects, haulage and processing infrastructure.
The initial Success MRE was calculated at a 1 g/t gold lower cut-off grade and was compiled in accordance with the guidelines defined in the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012) by Andrew Bewsher of BM Geological Services.
It includes mineralisation beneath the historic shallow open pit which was mined to a depth of around 80 metres.
Open at depth
"As with Challenger, the MRE at Success is constrained by drilling and remains open at depth,” Kennedy said. “Broad spaced deeper drilling by Yandal over the past few years indicates that mineralisation continues at least a further 150 metres down-dip to a vertical depth of approximately 290 metres.
“There is clear potential to extend the Success resource with further targeted drilling beneath the base of the MRE, an opportunity that we intend pursuing as a matter of priority.
"The Success MRE is the second of three MREs currently under evaluation by Yandal. The Parmelia MRE is progressing well and we look forward to reporting the outcome as results become available."
Resource extension drilling is being planned for all three deposits.
Exploration pipeline
Key exploration activities planned by Yandal Resources during the September quarter include:
- Aircore and RC programs to test priority targets at Ironstone Well and Barwidgee including Cash, Sims Find, New England Granite, Newport, Quarter Moon, Oblique and Barwidgee Shear.
- RC drilling programs at Mt McClure testing target areas adjacent to historic open cut mines and commence aircore drill testing of structural targets identified from aeromagnetic data.
- Review historic and recent drilling data at the Mt McClure Project to establish controls on potential higher grade plunging shoots and the potential for increasing the initial MREs at Challenger, Success and Parmelia.
- Finalise follow-up drilling at the Gordons Project, including tests of newly identified high-grade mineralisation at Meuleman and Zoehrer prospects.