New Gold Targets Emerge at Arika's Pennyweight Point
Arika Resources (ASX: ARI) has identified four compelling new gold targets at its Pennyweight Point prospect within the Yundamindra Gold Project, marking a significant advancement in the company's systematic exploration approach.
The Yundamindra Gold Project continues to demonstrate strong potential as Arika implements modern exploration techniques across this historically underexplored region. These latest discoveries represent a major step forward in unlocking the project's value.
High-Resolution Geophysics Reveals Hidden Potential
For the first time in the project's history, Arika has deployed modern geophysical exploration methods at Yundamindra, uncovering multiple high-priority bedrock gold targets beneath surficial cover. The targets were identified through recently completed ultra-detailed airborne magnetic and ground gravity surveys.
All four targets are situated within the northeast-trending Pennyweight Point structural corridor and display geophysical, geochemical, and geological signatures consistent with the known mineralisation at Pennyweight Point, where recent drilling has delivered spectacular results including:
- 35.76m @ 2.14g/t Au from 104.27m, including 13.46m @ 5.28g/t Au
- 23.97m @ 2.54g/t Au from 162.03m, including 5.38m @ 10.62g/t Au
- 14m @ 15.48g/t Au from 46m
- 30m @ 3.86g/t Au from 64m
"The application of modern geophysics is an essential part of our exploration toolkit at Yundamindra. These initial geophysical results are exciting and have revealed several compelling bedrock gold targets that resemble the mineralisation at Pennyweight Point itself in terms of their geophysical and associated geochemical signatures," said Justin Barton, Arika's Managing Director.
Signature of a Major Gold System
The combined high-resolution magnetic and gravity data reveals the prospect area to be a structurally complex intrusive, volcanic, and granitic interaction zone with intense structural disruptions—key elements consistently associated with many of the region's most significant multi-million-ounce gold deposits, such as Granny Smith and King of the Hills.
Significantly, these new targets coincide with some of the area's highest historical gold-copper-arsenic geochemical soil anomalies, further enhancing their prospectivity. None of the newly identified targets have been previously drill tested.
| Target | Priority | Key Characteristics |
|---|---|---|
| PWP1 | High | Discrete magnetic source with signs of multiple shearing events; evidence of abundant pyrrhotite |
| PWP2 | High | Possible southern repeat of PWP mineralisation |
| PWP3 | High | Larger area of altered magnetism with irregular magnetic field distortions |
| PWP4 | High | Larger area of altered magnetism similar to PWP3 |
Understanding Pennyweight Point Mineralisation
Gold at Pennyweight Point is hosted within a quartz-feldspar phyric Tonalite Porphyry, which occupies a major zone of shearing/alteration at the contact with a broad sequence of tholeiitic basalt. The mineralised zone ranges from several metres to approximately 30 metres true width.
The deposit currently defines a continuous zone of mineralisation striking northeast at approximately 030 degrees and dipping at roughly 50 degrees toward the southeast. The zone extends continuously from surface to at least 200m vertical depth over a drill-defined strike length of 350m.
What is a Tonalite Porphyry?
Tonalite porphyry is an intrusive igneous rock that belongs to the Tonalite-Trondhjemite-Granodiorite (TTG) series. In gold exploration, these intrusions are significant because they often provide both the structural conduits and chemical environment conducive to gold deposition.
For investors, the presence of a tonalite porphyry at Pennyweight Point is notable because similar host rocks are associated with major gold deposits throughout the Yilgarn Craton. The intrusive-volcanic contact zones, especially where structurally disrupted, create ideal traps for gold-bearing fluids during mineralisation events.
Next Steps and Forward Plan
Arika is planning Induced Polarisation (IP) electrical geophysical surveys to further refine the targets at Pennyweight Point prior to drill testing. This systematic approach allows the company to de-risk targets before committing to drilling.
RC drilling is currently continuing across the Yundamindra Gold Project area, with the newly identified targets at Pennyweight Point scheduled to be tested as part of this program.
Additionally, analysis of a recently completed airborne magnetic survey over the southern half of the Yundamindra Gold Project is well advanced, with targets generated from this work to be further refined by field mapping, rock chip sampling, and soil geochemical surveys.
Strategic Position in a World-Class Gold Region
The Yundamindra Gold Project is located 65km southwest of Laverton in the northeastern goldfields of Western Australia. The project sits toward the westernmost margin of the Laverton Greenstone Belt, one of Australia's premier gold regions with total production exceeding 28 million ounces.
The Laverton Belt hosts two world-class producing mines—Sunrise Dam (8 million ounces) and Wallaby (7 million ounces)—located just 20-30km east of Arika's project. Furthermore, the proximity to established mining infrastructure enhances the economic potential of any discoveries at Yundamindra.
Why Investors Should Take Notice
Arika's systematic approach to exploration at Yundamindra represents a significant opportunity for discovery in an underexplored section of a world-class gold belt. The company has several compelling factors working in its favour:
- The project is delivering consistent high-grade gold results from Pennyweight Point
- New geophysical targeting has identified multiple untested targets with similar signatures
- The geological setting mirrors that of multi-million-ounce deposits in the region
- The company is applying modern exploration techniques in an area that has not been systematically explored with contemporary methods
With ongoing drilling and a pipeline of high-priority targets being advanced, Arika is well-positioned to potentially make significant discoveries at Yundamindra in the near term. The combination of high-grade results from known mineralisation and multiple untested targets in a proven gold district presents a compelling investment case as the company continues to execute its exploration strategy.
How Does the Yundamindra Gold Project Compare?
When considering the Yundamindra Gold Project in context, its geological setting within the Laverton Greenstone Belt provides significant confidence. Many of Australia's most profitable gold operations began with similar geophysical and geological signatures before developing into substantial mining operations.
Moreover, the application of modern exploration techniques to areas that missed contemporary analysis during previous exploration cycles has repeatedly led to major discoveries throughout Western Australia's goldfields. Arika's methodical approach at Yundamindra follows this proven discovery template.
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