Highlights

  • Arika began its largest-ever drilling campaign, completing 74 RC holes for about 9,000m at Kookynie.
  • Hole 26AKRC015 at Champion returned 19m at 7.99 g/t Au, including 6m at 15.87 g/t Au.
  • A $6.55 million placement was planned, with Lion Selection Group investing $2 million.
  • The EIS awarded up to $211,213 in co-funding for drilling at Yundamindra.

Arika Resources Limited (ASX:ARI) has released its September 2026 quarterly activities report. The company began its largest-ever drilling campaign, starting at the Kookynie Gold Project in Western Australia before moving to Yundamindra, with about 8,500m of samples awaiting assay.

Kookynie Drilling Results

RC drilling began in July, with 74 holes for about 9,000m completed by the end of September. At Champion, hole 26AKRC015 returned 19m at 7.99 g/t Au from 111m, including 6m at 15.87 g/t Au. The new lode sits 10-20m above the Champion Main Reef within an interpreted cross-cutting structure.

At Cosmopolitan, hole 26AKRC007 returned 5m at 12.34 g/t Au from 162m, a new hangingwall lode. Regional targets also delivered results, including 1m at 11.77 g/t Au at Irishman, 4m at 6.34 g/t Au at Welshman and 4m at 8.24 g/t Au at Altona South. Soil sampling returned assays up to 109 g/t Au, with 43 samples above 5.0 g/t.

Yundamindra Plans

After the quarter, the Exploration Incentive Scheme awarded co-funding of up to $211,213, covering up to 50% of eligible drilling and mobilisation costs. Two 600m deep diamond holes are planned at Pennyweight Point to test about 400m below surface.

The drill rig is due at Yundamindra in November for pre-collars, followed by RC work on the Red Brick Road and Yellow Brick Road trends. Soil surveys at Emerald City, covering about half the project, have been completed with results pending.

Funding and Corporate

Arika planned a $6.55 million placement. Tranche 1 raised $5.85 million before costs through 307,894,737 shares at $0.019, and a $0.70 million director participation was approved by shareholders on 8 October 2026. Lion Selection Group invested $2 million and became a substantial shareholder.

Cash at 30 September 2026 was about $4.2 million, and exploration expenditure for the quarter was about $1.475 million. The company also established an unmarketable parcel share sale facility.

Key Takeaways

  • High-grade hits at Champion and Cosmopolitan point to new lodes at Kookynie.
  • About 8,500m of samples are awaiting assay, offering further news flow.
  • Deep diamond drilling at Yundamindra is supported by EIS co-funding.
  • The $6.55 million placement and Lion's investment strengthen the funding base.