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Arika Resources Limited (ASX:ARI)

ALERT: Price-sensitive ASX Announcement for ARI
Current share price for ARI : $0.023 -0.01 (-30.30%)+
Announcement
Release
27 Oct 2025 10:01AM
Price at Release
$0.033
Full Release
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Summary
Arika Resources Limited has initiated an expansive RC drilling program at the Pennyweight Point prospect within the Yundamindra Gold Project in Western Australia. The project, in which Arika holds an 80% interest, aims to expand known mineralisation and test new targets identified through recent geophysical surveys. The initial phase focuses on strike, plunge, and depth extensions of high-grade zones, while subsequent phases will target 'blind' geophysical bedrock gold targets. Geophysical data has refined existing targets and identified new ones, revealing the mineralised zone to extend over 350m. This project is located in the prolific Laverton Greenstone Belt, known for its significant gold production.
Key Points
  • Arika Resources Limited has commenced a new program of Reverse Circulation (RC) drilling at the Pennyweight Point prospect.
  • The Pennyweight Point prospect is part of the Yundamindra Gold Project in Western Australia, with Arika Resources holding an 80% interest.
  • The project aims to extend known mineralisation and test for new targets using recent geophysical survey data.
  • The first phase of drilling focuses on expanding strike, plunge, and depth extensions to high-grade zones.
  • Further drilling will test high-priority 'blind' geophysical bedrock gold targets identified near Pennyweight Point.
  • Geophysical surveys have successfully refined existing targets and identified new ones using IP surveys, magnetics, and gravity data.
  • The mineralised zone at Pennyweight Point has been confirmed to extend over 350m and remains open in all directions.
  • Pennyweight Point is characterized by a high-grade lode gold system within tonalite and mafic volcanic rocks.
  • The project is situated in the Laverton Greenstone Belt, a prolific gold-producing region.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.