Arika Resources Commences Phase 2 Diamond Drilling at Pennyweight Point, Yundamindra Gold Project

Mukul

12 November 2026 10:15 AM AEDT

Arika Resources Commences Phase 2 Diamond Drilling at Pennyweight Point, Yundamindra Gold Project

Image Source: Krish Capital Pty Ltd

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Arika Resources (ASX:ARI) has commenced Phase 2 diamond drilling at the Pennyweight Point Prospect within its 100%-owned Yundamindra Gold Project, located 65km southwest of Laverton in the Northeastern Goldfields mining district of Western Australia, the company disclosed on 12 November 2026.

Key Points

Phase 2 diamond drilling commenced on 9 November 2026 at Pennyweight Point, comprising up to eleven holes for 3,000m.
Previous drilling has defined wide, high-grade gold (+/-copper) mineralisation up to 30m true width over a strike length of 350m, extending from surface to a vertical depth of 250m.
The Pennyweight Point mineral system remains open at depth and along strike, with drilling designed to test down-plunge extensions beyond RC depth limits.
Approximately 10,000m of RC samples from the Kookynie Project are currently being processed, with assays pending.
Drilling is being undertaken by Westralian Diamond Drillers, with initial holes expected to take approximately six weeks to complete and remaining holes to be drilled early in the New Year.

Phase 2 Diamond Drill Program Design and Objectives

The Phase 2 program at Pennyweight Point is planned to comprise approximately eleven holes for 3,000m, utilising HQ-sized diamond cored tails with a core diameter of 63.5mm extending from pre-drilled RC pre-collars completed by Strike Drilling. The program is designed to test down-dip and down-plunge extensions of the high-grade Pennyweight Point gold lodes below RC depth limits, confirm mineralisation continuity at least 80m down-dip of previously reported intercepts, generate structural and litho-geochemical data to refine the geological model, and provide material for preliminary metallurgical testwork. Deeper EIS co-funded targets are also included in the proposed drill hole schedule.

Previously Reported Drilling Highlights at Pennyweight Point

Arika's prior drilling at Pennyweight Point has returned a range of significant intercepts, including 14m at 15.48g/t Au from 46m in hole YMRC077, 35m at 1.22g/t Au, 0.71g/t Ag and 1,214ppm Cu from 142m in hole 25AYRC172, 33m at 1.28g/t Au, 1.61g/t Ag and 1,706ppm Cu from 149m in hole 26AYRC004A, 21m at 4.65g/t Au from 251m in hole 25AYRC148, 30m at 3.86g/t Au from 89m in hole YMRC069, and 36m at 2.14g/t Au, 2.14g/t Ag and 724ppm Cu from 104m in hole 25YMD001, according to the filing.

WA Government EIS Co-Funding and Kookynie RC Sampling

Oriented diamond drill core from the Phase 2 program will be used to capture structural and litho-geochemical data to refine the geological model ahead of deeper diamond drill testing under the WA Government EIS Co-Funding scheme, which the company stated was recently approved. Two additional deeper holes, EIS_P01 and EIS_P02, targeting a RL of -60m and planned to reach 600m depth, are included in the proposed drill hole schedule. Concurrently, approximately 10,000m of RC samples from the Kookynie Project are being processed through the laboratory, with assay results pending.

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