YAMARNA GOLD PROJECT UPDATE
Australian Potash Limited has provided an update on drilling and exploration plans for the Yamarna Gold Project, 130km north-east of Laverton in Western Australia’s Eastern Goldfields.
Drill Program to Commence
A 3 stage, 23,000 metre Air-Core drilling program has been finalised to test a highly prospective zone identified in the recently completed CSA Global and Dr Scott Halley structural and geochemical/lithological reviews.
A drilling contractor has been engaged and the program is scheduled to commence April 2018. Currently thirteen targets have been defined, with more pending as the detailed targeting process continues. Aiding in the target definition process is the sourcing of additional drill assay data from Department of Mines, Industry Regulation and Safety records, adding to the understanding of local geology.
Limited shallow drilling by APC in 2016 recorded anomalous gold, silver, and arsenic results along strike from Gold Road Resources Ltd’s (ASX: GOR, Gold Road) Corkwood gold camp, and geochemical analysis confirms the prospectivity of this area through identification of favourable alteration, particularly highly anomalous arsenic recordings. Arsenic is commonly associated with gold mineralisation as it facilitates transport of the gold during deposition.
Gold Road’s Corkwood gold camp of prospects includes Ibanez, Stratocaster, Washburn, and Gibson prospects where AC, RC and DD results have been announced.
Executive Chairman Matt Shackleton said: “The insights given into the Yamarna Gold Project by external expert reviews demonstrate the enormous potential of the North-Yamarna greenstone belt, comprising 1,400km2 of 100% owned tenure contiguous with Gold Road’s Corkwood gold camp. We have narrowed down onto drill targets with geochemical/Arsenic assays more than 10 times background readings.
“Anyone familiar with the current gold developments around the Laverton gold district understands the significance of this exploration model in identifying large intrusive related gold deposits.
“The Board of APC is committed to a strategy of improving the value proposition of this Project for the benefit of shareholders in the Company, and we believe the pending Air-Core program is the first step in executing that strategy.