Yandal Resources (ASX: YRL) has confirmed a new high-grade gold discovery with early assay results at its New England Granite (NEG) prospect in Western Australia.
The NEG is part of the broader Ironstone Well–Barwidgee gold project located approximately 45 kilometres north of Northern Star’s (ASX: NST) Bronzewing mining centre and 75km south of the Jundee mining centre within the Yandal Greenstone Belt.
Managing Director Chris Oorschot said the new discovery has been named Siona.
The results from the first six holes of a 12-hole reverse circulation (RC) program identified a 78m zone averaging 1.2 grams per tonne gold from 96m to end-of-hole.
“These results are exceptional and may represent a significant emerging gold discovery within the Ironstone Well–Barwidgee gold project,” Mr Oorschot said.
“We plan on completing follow-up drilling at Siona as soon as possible to determine the geometry of the mineralisation, so that the exploration team can begin to assess the scale of the mineralised system.”
“The timing of this discovery is exciting, given the current gold price setting [and] validates the revised targeting model developed following the completion of the Exploration Incentive Scheme diamond drilling earlier this year, which implies that there could be several similar structural settings comparable to Siona across the broader New England Granite area.”
The results were highlighted by two significant intercepts spaced 170m apart, testing a north-west offset of the NEG’s eastern margin.
Mineralisation in both holes was identified in the footwall of the interpreted steeply north-east-dipping granite-basalt contact.
Preliminary interpretations suggest mineralisation is potentially continuous over 170m and remains open along strike and down-dip.
Yandal’s exploration team has begun preparations for follow-up RC drilling at Siona that will commence sometime in the next fortnight and has also begun assessing similar structural targets across the NEG and more broadly within the Ironstone Well–Barwidgee project.
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