Arika Resources (ASX:ARI) announces exceptional gold results at Pennyweight Point

Arika Resources Limited (ARI) has reported exceptional high-grade gold results from the recent drilling program at the Pennyweight Point prospect, within its 80% owned Yundamindra Gold Project. The new assays from 9 holes at Pennyweight Point have returned outstanding results, including 30m @ 2.36 g/t Au, 23m @ 2.84 g/t Au, 13m @ 2.60 g/t Au, and 7m @ 3.61 g/t Au. These results extend mineralisation at depth at Pennyweight Point, which remains open at depth and along strike. A total of 11 holes have been assayed, with a further 22 pending assays from drilling at Yundamindra.

Arika Managing Director comments on the results

To follow up the initial high-grade intersection of 30m @ 3.86 g/t Au at Pennyweight Point with two further high-grade, thick intersections over 20m shows we are onto something quite significant. Momentum is rapidly building at our Yundamindra Gold project. Importantly these intersections extend the previously known mineralisation and expand the gold footprint in the area. The shallow high-grade mineralisation is very encouraging with gold prices continuing to hit record highs, and the Company intends to follow up on these results and continue to demonstrate the scale potential at the Yundamindra Project. As can be seen in Figures 1, 2 and 4, there is limited historical drilling below 60m, and these initial results from our maiden program at the Pennyweight Point prospect are already delivering thick, high-grade results.

Summary of Arika Resources' outstanding gold results

Arika Resources (ARI) has announced outstanding high-grade gold results from the recent drilling program at the Pennyweight Point prospect, within its Yundamindra Gold Project. The new assays from 9 holes at Pennyweight Point have returned exceptional results, extending mineralisation at depth. The Company intends to follow up on these results and continue to demonstrate the scale potential at the Yundamindra Project. With 22 pending assays from drilling at Yundamindra, Arika Resources is poised to further uncover the potential of the Yundamindra Gold Project.