Ironstone Well and Barwidgee Gold Projects

Yandal Resources Limited owns a 100% interest in the prospective Ironstone Well and adjacent Barwidgee gold projects in Western Australia.

The projects comprise of eight contiguous mining, exploration and prospecting licenses covering approximately 472km² within the northern part of the prospective Yandal Greenstone Belt. The belt is host to a number of large gold deposits including Northern Star’s (ASX: NST) giant Jundee mine which has been operating continuously for over 20 years

Figure 1: Ironstone Well and Barwidgee Project Location

The projects cover ~55km strike extent of high prospective greenstone rocks containing a number of historically defined gold deposits and mineral occurrences. Significant broad spaced reconnaissance drilling has been undertaken by previous owners over much of the project area however it is considered to have ineffectively tested major gold bearing structures.

Key reasons as to why historic work was unable to effectively test targets include;

  • The complex way metals behave within the deeply weathered Yandal Greenstone terrain was not previously recognised;
  • The use of shallow vacuum, RAB and aircore drilling techniques coupled with assay methods sensitive to only parts per million detection;
  • The use of shallow vertical holes instead of angled.

Field reconnaissance and detailed database reviews have generated numerous advanced and early stage gold targets to test over the next few years with the aim to define major gold deposits.

There has been a resurgence in exploration and development activity within the Yandal Greenstone Belt in recent years which is resulting in new gold discoveries and growth in gold processing capacity within haulage distance of the Company projects.

The Ironstone Well project contains the Company’s flagship Flushing Meadows prospect where a maiden JORC Compliant Mineral Resource Estimate (“MRE”) has been compiled. Work has begun to upgrade the MRE and complete a Feasibility Study for an open pit mine development and complete statutory mining approvals.

September 2019 Mineral Resource Estimate Summary Table – Flushing Meadows Gold Deposit 

Material

Type

Indicated

Inferred

Total

Tonnes

Au (g/t)

Oz

Tonnes

Au (g/t)

Oz

Tonnes

Au (g/t)

Oz

Laterite

10,353

1.42

473

47,824

1.13

1,730

58,177

1.18

2,203

Oxide

710,322

1.55

35,444

1,803,863

1.28

74,118

2,514,185

1.35

109,562

Transition

147,552

1.60

7,609

742,181

1.24

29,612

889,733

1.30

37,221

Primary

1,132,379

1.15

41,795

1,132,379

1.15

41,795

Total

868,227

1.56

43,518

3,726,247

1.23

147,236

4,594,474

1.29

190,849

Competent Person Statement

The information in this document that relates to Exploration Results, geology and data compilation is based on information compiled by Mr Trevor Saul, a Competent Person who is a Member of The Australian Institute of Mining and Metallurgy. Mr Saul is the Exploration Manager for the Company, is a full-time employee and holds shares and options in the Company.

Mr Saul has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Saul consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

The information in this announcement that relates to the Flushing Meadows Mineral Resource Estimate is based on information compiled and generated by Andrew Bewsher, an employee of BM Geological Services Pty Ltd (“BMGS”).  Both Andrew Bewsher and BMGS hold shares in the company. BMGS consents to the inclusion, form and context of the relevant information herein as derived from the original resource reports. Mr Bewsher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.