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- Large AC drilling has commenced at the Yttria prospect within Leonora North.
- Targeting gold anomalies identified in previous REE-focused vertical vacuum and RC drilling campaigns.
- Numerous parallel gold anomalies extend over 4km strike.
- Gold anomalies coincide with arsenic, tellurium pathfinder elements, magnetic lows.
GoldArc Resources (ASX:GA8) has now commenced an 11,000-metre aircore drilling program hunting gold at the Yttria prospect within its Leonora North project area in the Eastern Goldfields of Western Australia.
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The program’s targeting a range of gold anomalies identified during previous vertical vacuum and RC drilling campaigns, which originally focused on rare earth elements, yttrium, and scandium mineralisation. Due to the previous REE focus on the asset, Yttria has never been systematically drilled for gold.
GoldArc’s MD, Paul Stephen, said with numerous parallel anomalies over 4km of strike, the prospect represents a priority target not yet been systematically drill-tested within a district known for significant endowment of the precious metal.
“Yttria has been sitting in our portfolio as a former REE asset, but the geochemistry was telling a very different story focused on gold,” he said today.
“When you have numerous parallel anomalies running over four km of strike, with arsenic and tellurium accompanying the gold and every anomaly coinciding with a magnetic low, that is the structural signature we look for.
“This 11,000-metre aircore program is our first systematic test of that gold potential, in a belt hosting several active and emerging gold operations.”
During the previous REE-focused work, vertical vacuum and RC holes were drilled; however, the assay data was never followed up for gold. A systematic review of that historical dataset has newly identified anomalies that are consistently associated with arsenic and tellurium gold pathfinders and magnetic lows.
The new aircore program has been designed to systematically test each of the defined parallel anomalies along their strike extent, providing the company with its first drill-hole dataset targeting gold at Yttria.
In other news, the company is relinquishing prospecting licence tenements P37/9513, P37/9514, P37/9515, P37/9516, P37/9517, P37/9518, P37/9519, P37/9520, P37/9521 and P37/9267 as part of its ongoing portfolio rationalisation.
GA8 is down -3.75%, to 7.7¢. Mkt cap $45.80M.
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