Yandal Resources Ltd (ASX: YRL) has commenced an RC drilling programme on its 100% owned Mt McClure Project.
The Mt McClure Project is located 15km SW of the historic Bronzewing gold mine and 10km from Orelia gold mine both owned by Northern Star Resources Ltd (ASX: NST) in the southern Yandal Belt in Western Australia.
During the September 2022 quarter, the company completed initial Mineral Resource Estimates (MRE’s) on the margins of the Success, Parmelia and Challenger historic open cuts which resulted in a combined Resource inventory of 2.225Mt @ 1.9g/t Au for 136,000oz at a 1.0g/t lower cut-off.
The MRE boundaries were drill constrained indicating clear potential to expand the initial estimates with further targeted drilling along strike, down-dip and down plunge.
The current drilling programme is the first phase of a multi-phase drilling programme designed to expand the Resource base at Mt McClure. Drilling will target positions proximal to the margins of the current MRE’s as well as testing a number of advanced prospects with resource potential, occurring along a 10km long trend on granted mining leases within Yandal’s tenure.
The programme will take approximately three weeks to complete with results expected in the March Quarter 2023.
Our recent capital raising was primarily undertaken to provide funds for us to test the resource potential at Mt McClure, which was highlighted through the completion of the initial MRE,” Managing Director, Tim Kennedy, said.
“We’re pleased to be commencing this initial drilling programme, to be built upon by additional programmes in the new year which together will help unlock the value of this highly mineralised tenure.”
December Quarter Exploration Plans
Priority exploration activities planned for Q4 2022 include;
1. Review historic and recent drilling data at the Mt McClure to establish controls on potential higher grade plunging shoots.
2. RC drill testing at Mt McClure to expand the initial Mineral Resource Estimates at Challenger, Success and Parmelia.
3. Integration of new high resolution aeromagnetic survey data and RC follow-up along the high-grade Sims Find trend and other advanced prospects at Barwidgee.
4. Review of key prospects at Gordon’s and drill hole planning.
