Arika Resources dives deeper for gold at Pennyweight Point

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Arika Resources has planned to drill up to 11 diamond holes to test high-grade lodes at Yundamindra. ... Read More The post Arika Resources dives deeper for gold at Pennyweight…

Arika is delving the depths of its Pennyweight prospect in the hunt for a larger gold-copper system. Pic: Getty Images

Special Report: Arika Resources has started diamond drilling at Pennyweight Point to see how far its high-grade gold lodes extend below earlier drilling at the Yundamindra gold project in Western Australia.

The drilling campaign is underway and will comprise up to 11 holes totalling 3000m.

It will target potential down-dip extensions of previous gold intersections, following the lodes down-plunge beyond the reach of earlier reverse circulation (RC) drilling.

A key objective is to establish continuity at least 80m down-dip of previously reported intersections.

Arika Resources (ASX:ARI) managing director Justin Barton said Pennyweight Point has the makings of a big gold system, open in all directions and appearing to improve in grade and width at depth.

“Our previous drilling has returned spectacular results, including some of the best assays we’ve ever seen at Yundamindra,” he said.

“Geological and geochemical observations from our previous work indicate that we might have found the upper position of a much larger, depth-extensive gold-copper porphyry mineral system with a more typical orogenic gold overprint, and this program is designed to build upon that interpretation.”

ARI has outlined gold mineralisation, locally accompanied by copper, across 350m of strike from surface to 250m vertical depth at Pennyweight, with true widths of up to 30m.

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