Key Highlights

  • Yandal Resources Limited (ASX:YRL) reported 56.6 metres at 1.1 grams per tonne (g/t) gold from 398.5 metres at Arrakis on 19 October 2026, with an estimated true width of 32 metres and higher-grade mineralisation within the interval.
  • The latest drilling extended the interpreted high-grade Domain A approximately 100 metres down-dip, while the company's broader Ironstone Well-Barwidgee exploration programme continues investigating mineralisation at Arrakis, Siona and Flushing Meadows.
  • Yandal Resources Limited (ASX:YRL) reported AUD 3.29 million in cash at 30 September 2026, compared with AUD 9.66 million at 30 June 2026, reflecting increased exploration expenditure and the need for additional funding.

Yandal Resources Limited (ASX:YRL) is an Australian-listed gold exploration company focused on projects within Western Australia's Yandal Greenstone Belt. Its principal asset is the Ironstone Well-Barwidgee Gold Project, which includes the Arrakis discovery and several established exploration prospects. On 19 October 2026, the company announced further diamond drilling results from Arrakis, confirming that gold mineralisation extends deeper within the interpreted geological system. The results provide additional information about the potential scale of the discovery, although Arrakis remains at an early exploration stage without a declared Mineral Resource or established development plan.

What Do the Latest Arrakis Diamond Drilling Results Reveal?

Yandal Resources Limited (ASX:YRL) announced results from diamond drilling at the Arrakis prospect on 19 October 2026, identifying gold mineralisation at depths approaching 400 metres. Drill hole 26IWBDD0017 returned 56.6 metres at 1.1 g/t gold from 398.5 metres, with an estimated true width of approximately 32 metres. The broader intersection included 29.8 metres at 1.4 g/t gold, incorporating 8.0 metres at 1.8 g/t gold and 6.4 metres at 2.3 g/t gold.

A second diamond hole, 26IWBDD0016, intersected 16.7 metres at 1.0 g/t gold from 373.3 metres, with an estimated true width of approximately 12 metres. These results demonstrate that gold mineralisation continues below previously tested sections, providing geological information for evaluating the depth and continuity of the Arrakis system.

Why Is the Extension of High-Grade Domain A Important?

The latest drilling extended the interpreted high-grade Domain A at Arrakis approximately 100 metres down-dip from previously reported mineralisation. This extension indicates that gold-bearing structures continue at greater depths, expanding the area requiring geological investigation. Yandal Resources Limited (ASX:YRL) has identified several higher-grade domains within the Arrakis system, with the latest results contributing to its understanding of their spatial distribution.

Geological observations suggest that mineralisation is associated with a relatively steeply dipping structural corridor, where deformation and alteration may have influenced gold concentration. The company is using diamond drilling to investigate whether the identified domains continue along strike and down-plunge. However, the current drilling pattern remains too widely spaced to support a Mineral Resource estimate, making additional closely spaced drilling necessary.

How Do the Deeper Results Compare With Earlier Arrakis Drilling?

The October 2026 diamond drilling results follow a series of shallower gold intersections reported by Yandal Resources Limited (ASX:YRL) during the preceding months. On 10 August 2026, the company announced an intersection of 20 metres at 8.7 g/t gold from 84 metres, including 6 metres at 28.3 g/t gold and 3 metres at 52.8 g/t gold.

These earlier results identified high-grade mineralisation within the interpreted Domain C area, providing a basis for additional structural interpretation and deeper drilling. The latest diamond drilling differs from the shallower results because it investigates mineralisation several hundred metres below the surface. Although the reported average gold grades are lower than those in some shallow intersections, the deeper holes provide evidence that mineralisation continues within the broader geological structure.

The company is assessing whether the higher-grade domains are related through common geological controls. Establishing these relationships will require further drilling and detailed geological modelling rather than relying on individual intersections alone.

What Is the Current Status of the Arrakis Drilling Programme?

Yandal Resources Limited (ASX:YRL) commenced a seven-hole diamond drilling programme covering approximately 3,300 metres during September 2026. The programme was designed to investigate the depth continuity, grade distribution and geometry of mineralisation identified through earlier reverse-circulation drilling.

By 19 October 2026, six of the seven planned holes had been completed, with several intersecting the interpreted Arrakis mineralised structure. Results from the first two priority diamond holes were available, while additional assays from completed holes remained outstanding.

The company expected the remaining drilling to conclude around early November 2026, with further priority sample results anticipated during the same period. An infill reverse-circulation drilling programme is also planned for early 2027, targeting areas where closer-spaced drilling could improve geological confidence and potentially support future resource estimation.

How Does Arrakis Fit Within the Ironstone Well-Barwidgee Gold Project?

The Arrakis prospect forms part of the Ironstone Well-Barwidgee Gold Project, which covers approximately 456 square kilometres within the northern Yandal Greenstone Belt of Western Australia. The project contains multiple exploration targets, including Arrakis, Siona, Flushing Meadows and other areas identified through geological and geochemical investigations.

Yandal Resources Limited (ASX:YRL) holds a 100% interest in the project and has been undertaking systematic exploration to identify potential gold-bearing structures across the broader tenement package. Arrakis represents one of the company's principal current exploration priorities because drilling has identified gold mineralisation across several interpreted domains.

The wider project also contains the Flushing Meadows deposit, where a Mineral Resource has already been established. However, Arrakis has not yet been incorporated into the company's existing Mineral Resource inventory, and each prospect requires independent technical assessment before its development potential can be determined.

What Do the Siona and Flushing Meadows Results Add?

Alongside Arrakis, Yandal Resources Limited (ASX:YRL) reported additional drilling results from the Siona and Flushing Meadows prospects in October 2026. At Siona, reverse-circulation drilling returned 19 metres at 1.2 g/t gold from 45 metres, providing further evidence of mineralisation within the broader Ironstone Well-Barwidgee exploration area.

At Flushing Meadows, drilling returned an intersection of 10 metres at 0.9 g/t gold from 121 metres, contributing to the company's understanding of mineralisation around the existing resource. Flushing Meadows currently contains a reported Mineral Resource of approximately 268,000 ounces of gold, and additional drilling has been undertaken to investigate potential extensions.

These results provide information about several areas within the company's exploration portfolio. However, they do not establish that mineralisation across Arrakis, Siona and Flushing Meadows forms a single continuous deposit.

What Is Yandal Resources Limited's (ASX:YRL) Existing Gold Resource Inventory?

Yandal Resources Limited (ASX:YRL) reported a combined Mineral Resource inventory of approximately 450,200 ounces of gold across its established deposits. This includes approximately 268,000 ounces at Flushing Meadows and 182,200 ounces at the Mt McClure Gold Project.

These resources provide an established geological inventory separate from the company's ongoing exploration at Arrakis. No Ore Reserve has been declared across the portfolio, and the existing Mineral Resources do not represent confirmed commercially recoverable production.

The company continues to evaluate opportunities to expand its resource base through drilling and geological investigations. At Arrakis, the current focus remains on understanding the extent and continuity of gold mineralisation before considering a maiden Mineral Resource estimate.

What Do Yandal Resources Limited's (ASX:YRL) FY26 Financial Results Show?

Yandal Resources Limited (ASX:YRL) reported a net loss after tax of AUD 12.27 million for FY26, compared with AUD 8.21 million in FY25. The wider loss reflected increased exploration expenditure as the company expanded drilling programmes across its Western Australian gold projects. Net cash used in operating activities reached approximately AUD 12.64 million during FY26, compared with AUD 8.10 million in FY25, with exploration expenditure accounting for a substantial proportion of the outflows.

Cash and cash equivalents stood at approximately AUD 9.66 million at 30 June 2026, compared with AUD 4.76 million at 30 June 2025. Total assets reached approximately AUD 12.35 million at the FY26 reporting date.

The September 2026 quarterly activities report subsequently disclosed a cash balance of approximately AUD 3.29 million at 30 September 2026. Exploration expenditure during that quarter was approximately AUD 5.97 million, indicating continued substantial investment in drilling and associated technical activities.

What Are the Main Exploration and Funding Risks?

Yandal Resources Limited (ASX:YRL) faces geological uncertainty because Arrakis remains an early-stage discovery without a declared Mineral Resource. Although the latest results demonstrate gold mineralisation at depth, further drilling is necessary to establish continuity, true thickness and the potential scale of the mineralised system.

The company's existing Mineral Resources at Flushing Meadows and Mt McClure also remain subject to technical and economic uncertainties because no Ore Reserves have been declared. Funding represents another important consideration, particularly given the decline in cash from AUD 9.66 million at 30 June 2026 to approximately AUD 3.29 million at 30 September 2026.

The company's FY26 financial statements identified material uncertainty regarding its ability to continue as a going concern without sufficient future funding. Additional equity financing may therefore be required, potentially increasing the number of shares outstanding. Gold price movements, regulatory requirements and exploration outcomes remain further factors influencing the company's future plans.

What Are the Next Milestones for Yandal Resources Limited (ASX:YRL)?

The immediate priority for Yandal Resources Limited (ASX:YRL) is completing the remaining Arrakis diamond drilling and receiving outstanding assay results from the deeper mineralised zones. Additional results are expected from early November 2026 and will help refine the geological interpretation of the identified high-grade domains.

The company also expects further results from drilling at Siona and Flushing Meadows, together with regional aircore exploration across selected targets within Ironstone Well-Barwidgee. An infill reverse-circulation programme planned for early 2027 will be important for determining whether drilling density can be improved sufficiently to support a future Mineral Resource assessment at Arrakis.

Financially, the company's September quarter cash position indicates that securing additional capital will be relevant to maintaining the current exploration programme. The company has indicated its intention to seek further equity funding during the December 2026 quarter, with future exploration priorities dependent on drilling results, geological modelling and available financial resources.