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- Arika and subsidiary KYM Mining now own 100% of Yundamindra and Kookynie projects
- Consolidates full ownership of flagship Eastern Goldfields portfolio
- Provides complete operational and strategic flexibility across both projects
- Yundamindra and Kookynie host multiple advanced gold targets
Arika Resources (ASX: ARI) is preparing to ramp up drilling after completing the acquisition of the remaining 20% interest in the Yundamindra and Kookynie gold projects in Western Australia.
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The company and wholly-owned subsidiary KYM Mining now own 100% of Yundamindra and Kookynie and its flagship gold assets in the highly endowed Leonora-Laverton region.
MD, Justin Barton, said the completion of the transaction represents a major strategic milestone for the company, providing Arika with complete flexibility to accelerate exploration, resource growth and future development opportunities.
“The completion of this transaction marks a transformational milestone for Arika and firmly establishes a 100%-owned gold portfolio in one of Western Australia’s most sought-after gold districts,” Mr Barton said.
“Full ownership of Yundamindra and Kookynie gives us complete control over exploration and development activities across these highly prospective projects and positions the company to rapidly unlock value through aggressive exploration and resource growth.
“The exceptional drilling results generated over the past 12 months continue to highlight the outstanding potential of both projects, with significant upside remaining at depth and along strike across multiple target areas.
“With active drilling programs underway and a strong pipeline of exploration news flow ahead, we believe Arika is exceptionally well positioned for a strong period of growth and value creation.”
With the acquisition now complete, Mr Barton said Arika plans to accelerate exploration activities across both projects, including ingoing expansional and resource definition drilling programs.
Plans include EIS co-funded diamond drill testing of depth extensions to the historical high grade Cosmopolitan and Diamantina gold deposits.
The company is also preparing to undertake systematic target generation and prioritisation activities, including geological mapping and geochemical soil sampling programs.
Arika is also advancing towards maiden mineral resource estimates.
The Yundamindra project is located approximately 65 km south-east of Leonora and within trucking distance of multiple established processing facilities in the Eastern Goldfields.
Historically, Yundamindra delivered high-grade production prior to 1970 of 45,000 ounces at 19.3 grams per tonne (g/t) gold, predominantly from near-surface workings.
Recent modern exploration by Arika has confirmed historical mineralisation and significantly expanded the understanding of the system through targeted drilling and geophysical surveys.
Kookynie is located approximately 150km north of Kalgoorlie and 60km south-southeast of Leonora. Despite a history of significant high-grade gold production, the area remains under-explored and presents compelling exploration upside.
ARI is up 6.25% to 2.6c. Mkt cap $27.90M.
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