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- Yandal has received significant assays from RC pre-collars
- All pre-collars located outside current mineral resource
- Success may add to current 268,000 ounce MRE
- Follow-up RC drilling scheduled for late June or early July
Yandal Resources (ASX:YRL) is off to a strong start with its drilling program at the Flushing Meadows deposit with RC pre-collars hitting shallow gold.
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Seven of the eight diamond holes drilled have been completed below the shallow, 268,000 ounce mineral resource estimates (MRE) at Flushing Meadows, part of the Ironstone Well-Barwidgee gold project in WA.
MD, Chris Oorschot, said several significant intercepts have demonstrated potential for additional mineralisation to the east (or in the hanging wall of) the current MRE.
Those positive results followed previously reported observations from diamond hole 26IWBRC0095D which demonstrated multiple parallel structures both above and below (in the footwall and hanging wall of) the targeted Flushing Meadows structures.
“The result from 26IWBRC0098DA provides the first evidence of additional mineralised structures outside of the footprint of the current Flushing Meadows deposit,” Mr Oorschot said.
“The shallow, broad nature of the oxide intercept demonstrates the potential for further exploration to build on the 268koz Mineral Resource.
“With seven of the eight diamond holes completed, we are looking forward to the result from the first diamond hole 26IWBRC0095D.”
Based on geological interpretations, including recently acquired infill ground gravity data, the intercept from 26IWBRC0098DA is interpreted to be open to the south and at depth.
“Further drilling is needed to understand how the intercept relates to drilling completed to the north, with the closest hole along strike being 26IWBRC0099D, which also intersected shallow gold mineralisation,” Mr Oorschot said.
The drilling program at Flushing Meadows commenced in late April and was designed to assess the continuity of mineralisation below the shallow MRE, which strikes for over 1.9km at surface.
In addition to diamond drilling, a broad 10,000m air-core drilling program is underway across the Flushing Meadows and Giedi Prime target area.
The 100% owned Ironstone Well-Barwidgee (IWB) gold project covers approximately 370 sq. km of highly prospective and under-explored tenure located between the Jundee and Bronzewing mines in the northern Yandal Greenstone Belt.
The IWB project area also includes two new gold discoveries, the Arrakis and Siona prospects, both made within the last 12 months.
YRL is up 10.5% to 21.0¢. Mkt cap $72.48M.
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