Yandal Resources Ltd (ASX:YRL) MD Tim Kennedy speaks with Proactive after receiving promising results from a 13-hole reverse circulation drill program testing the Oblique and New England Granite (NEG) prospects at the Ironstone Well-Barwidgee (IWB) Gold Project, which showed grade continuity and large-scale potential. The results have allowed the company to generate a conceptual exploration target of 12.9-38.6 million tonnes grading 1.1-1.4 g/t gold for 0.44-1.78 million ounces for four of IWBs key prospects – Oblique, Quarter Moon, Flushing Meadows and NEG. Additionally, it has vindicated the ASX-listers exploration strategy to pursue prospects such as Oblique and NEG, which have the potential to deliver low-cost and large-scale resource growth.
These results are promising, particularly given that difficult drilling conditions encountered at Oblique resulted in a number of holes failing to reach targeted depths, Kennedy said.
Identifying a consistently mineralised position within the complex stratigraphic setting of Oblique gives us a strong incentive to progress exploration across the prospect.
In addition, the results from the New England Granite drilling provide a focus for targeting during future programs.
The release of the exploration target provides clarity regarding the discovery potential across four of our key prospects and why they are a priority for exploration.
We look forward to commencing the next phase of drill testing in the next few weeks.
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Yandal Resources Ltd
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