Yandal Resources Ltd (ASX: YRL) has released an initial Mineral Resource Estimate (MRE) for its Challenger deposit at the 100% owned Mt McClure gold project in Yandal Greenstone Belt of Western Australia.
The project covers 36 sq. km of tenure approximately 20km SW from the historic Bronzewing mine and is close to existing haul roads and Northern Star’s Orelia Development. It is situated within the “Southern Trend” of the historic Mt McClure mining camp which has an overall gold endowment of >1.8moz from a number of open pits covering a strike length of some 45km.
The company’s Mt McClure Project includes three historic mining areas; Challenger, Success and Parmelia which all have substantial mineralisation beneath the base of mining as defined by historic and more recent drilling by Yandal Resources.
The initial Challenger MRE contains a total of 718,000t @ 1.9/t Au for 44,000oz (> 1g/t Au lower cutoff grade).
The definition of an initial mineral resource estimate of 44,000 ounces at Challenger is a highly encouraging outcome for the Mt McClure Project and the company and provides us with a great foundation for future growth,” Managing Director; Tim Kennedy, said.
“Challenger is the first of three initial mineral resource estimates that will be produced at Mt McClure based on historical drill data and drilling completed by Yandal. The fact that we have been able to produce this estimate using the vast database of historical drilling from previous miners has resulted in a very cost-effective addition to our existing resource base.
“Of particular interest is that the initial MRE remains open at depth, with Yandal’s deeper broad spaced step-out drilling completed over the past couple of years confirming that mineralisation continues at least a further 170m down-dip at Challenger.
“We are looking forward to the outcome of the Success and Parmelia initial MRE studies and to planning follow-up drilling with a view to potentially expanding the resource base even further.”
Challenger is the first of three MRE’s currently being defined with the Success and Parmelia MRE’s currently in progress.
