Projects

Yundamindra Gold Project

The Yundamindra Gold Project is located ~65 kms south east of Leonora and ~65 kms east of the Joint Venture’s Kookynie project. The project lies within close trucking proximity of a number of mills (Figure 1).

The Yundamindra Project consists of nine granted mining leases, and two exploration leases, as well as a number of brownfield and greenfield exploration targets (Figure 2).

Figure 2 – Yundamindra Gold Project- Priority Prospects

The Yundamindra Gold Project had high grade historical production prior to 1970 of 74kt @ 19.3g/t Au for 45,000 ounces with significant alteration and structures (epidote) hosting visible fine gold mineralisation within laminated quartz veins common to the eastern goldfields. Significant historical drill intercepts from the Prospects within the Project include:

Pennyweight Point – 8m @ 56.36 g/t Au from 44m in PV095
Landed at Last – 10m @ 9.99 g/t Au from 10m in LW34
Bonaparte – 12m @ 5.64 g/t Au from 1m in GB35
Queen May – 2m @ 39.49 g/t Au from 31m in QMN5
Golden Treasure – 1m @ 48.1 g/t Au from 12m in TDN18.

The Yundamindra Project encompasses zones of gold mineralisation occurring along the margin of a regional scale hornblende-granodiorite batholith which intruded mafic lithologies. The contact is sub-divided into two ‘lines’ of mineralisation, western and eastern which host numerous prospective structures. Yundamindra has only experienced shallow historical drilling which offers Arika Resources significant opportunity to extend the know mineralisation occurrences within the area and for new discoveries.

Western Line

Gold mineralisation on the Western Line is generally associated with laminated quartz veins or mylonitic, pyritic, siliceous material in dilatory faults or shear zones.

Historical drilling has left Arika Resources with a potential shallow gold orebody or system that links 4 prospects together for 2500m of mineralisation along strike from the northern gold prospect Queen of Poland to the Southern gold prospect of Golden Treasure North (Figure 3).

Figure 3 – Greater Landed at Last potential extensions.

Arika Resources Limited’s maiden drilling programme on the Western Line at Yundamindra returned with multiple impressive gold intersections and high grades. Importantly, mineralised intercepts correlate with historical drill intercepts, providing validation and encouragement for further drilling and potential resource estimation.

Landed at Last Prospect

The Landed at Last prospect is the northern most prospect on the western line of the Yundamindra project, and is located ~65km south east of Leonora and withing close trucking distance of a number of under capacity mills.

The prospect has historically only seen limited shallow drilling but has returned significant historical results, including:

HoleID	Prospect	Total Depth	Significant Intercepts
LW87	Landed at Last	80	12m @ 3.46 g/t Au from 62 m
LW32	Landed at Last	51	11m @ 5.85 g/t Au from 40 m
LW34	Landed at Last	34	10m @ 9.99 g/t Au from 10 m
LW33	Landed at Last	50	9m @ 8.56 g/t Au from 36 m
LW5	Landed at Last	49	7m @ 5.39 g/t Au from 12 m
LW71	Landed at Last	55	7m @ 3.26 g/t Au from 30 m
LW65	Landed at Last	55	6m @ 7.54 g/t Au from 42 m
LW75	Landed at Last	62	6m @ 5.6 g/t Au from 42 m
LN93	Landed at Last	58	6m @ 11.19 g/t Au from 41 m

Historical Significant Intercepts – Landed at Last.

Arika Resources’ maiden drilling programme includes 32 RC drillholes into the gold prospect of Landed at Last which confirmed gold mineralisation, with 20 holes returning significant intercepts as well as numerous other smaller gold intervals (Figure 4), including:

14m @ 3.13 g/t Au from 28m; incl 8m @ 5.01 g/t Au, 1m @ 12.30 g/t Au, and 1m @ 15.72 g/t Au (YMRC0003).
9m @ 4.29 g/t Au from 51m (YMRC0004)
12m @ 2.93 g/t Au from 43m; incl 5m @ 4.80 g/t Au (YMRC0023)
5m @ 6.40 g/t Au from 80m; incl 3m @ 9.74 g/t Au, and 1m @ 18.26 g/t Au (YMRC0030)
18m @1.16 g/t Au from 27m; incl 6m @ 2.08 g/t Au (YMRC00011)
10m @ 1.10 g/t Au from 33m; incl 1m @ 3.14 g/t Au from 41m (YMRC0007)

Figure 4 – Plan section of Landed at Last RC drilling programme collars against historical drilling.

Gold mineralisation at Landed at Last is currently very shallow (<100m below surface) and has a current interpreted total strike length of over 750m with mineralisation open at depth and along strike.

Given the last drilling was undertaken over 10 years ago, Arika Resources has taken a measured approach to commencing exploration activities at Yundamindra. A campaign of confirmation drilling to confirm gold grades and intersections as well as extensional drilling has been undertaken to validate and help improve in the precision of historical data and for viability in respect of any future JORC compliant resource estimations.

Importantly, not only did the Company’s drilling correlate with historical intercepts and high grades, in specific areas the drilling programme extended mineralisation at depth down the dip of the orebody (Figure 5). Four key drillholes of YMRC0005, YMRC0014, YMCR0016 and YMRC0018 have all extended mineralisation at depth beyond the last historical drillhole in that section. These extensions remain less than 100m below surface which could potentially indicate significant gold mineralisation open at depth and two cross sections have been designed to highlight the extension of mineralisation at depth (Figures 5 and 6).

Figure 5 – Simplified cross section view AB, YMRC0014 highlights extensions to gold mineralisation and remaining open at depth.

Figure 6 – Simplified cross section view CD, YMRC0018 highlights extensions to gold mineralisation and remaining open at depth.

Bonaparte Prospect

The Bonaparte Prospect, is located approximately 1km along strike to the south of the Landed at Last prospect (Figure 2). The Bonaparte Prospect has produced significant historical results, including:

HoleID	Prospect	Azimuth	Total Depth	Significant Intercept
GB35	Great Bonaparte	191.8	25	12m @ 5.64 g/t Au from 1 m
GBE8	Great Bonaparte	240.1	40	6m @ 2.03 g/t Au from 21 m
GBE23	Great Bonaparte	240.1	25	5m @ 5.76 g/t Au from 9 m
GBE7	Great Bonaparte	240.1	40	5m @ 3.95 g/t Au from 28 m
GBE11	Great Bonaparte	240.1	55	5m @ 2.59 g/t Au from 33 m
GB13	Great Bonaparte	241.8	40	4m @ 5.73 g/t Au from 25 m
GBE29	Great Bonaparte	240.1	52	4m @ 4.42 g/t Au from 36 m
GBE13	Great Bonaparte	240.1	60	4m @ 2.23 g/t Au from 33 m

Historical Significant Intercepts – Bonaparte.

Recent assays for 10 RC drillholes drilled by Arika Resources into the Bonaparte gold prospect confirmed the gold mineralisation from the historic drilling completed almost 40 years ago. Eight out of 10 drillholes returning significant intercepts as well as numerous other smaller gold intervals including:

11m @ 2.23 g/t Au from 31m (YMRC0039);
8m @ 1.5 g/t Au from 24m (YMRC0041);
4m @ 3.12 g/t Au from 12m (YMRC0001);
5m @ 1.62 g/t Au from 31m (YMRC0037).

Figure 7 – Plan section of Bonaparte RC drilling programme collars against historical drilling.

Gold mineralisation at the two separate lodes of Bonaparte is shallow (<100m from surface) and open in all directions along strike and at depth.

The Bonaparte prospect remains open along strike and at depth (Figure 8).

The combined approximate strike length of both gold lodes at Bonaparte is 350m which, when combined with Landed at Last adds up to over 1km of mineralised strike length at just two out of 9 prospects within the Yundamindra Gold Project.

Only two holes were drilled into the western lode of Bonaparte due to constraints related to the proximity of pastoral infrastructure. However, Arika Resources has since gained consent to drill within these areas as well as the Golden Treasure North prospect, located 200m to the south of Bonaparte on the same structure, in future drill campaigns.

RC drilling from the recent campaign has been successful for the confirmation of gold grades and intersections that will provide valuable information to validate and help improve in the precision of historical data and for viability in respect of any future JORC compliant resource estimations. A review of the new drilling against the historical information is a vital next step in advancing the Yundamindra Gold Project.

Figure 9 – Simplified cross section view AB, highlights gold mineralisation remaining open at depth at Bonaparte.

Eastern Line

Pennyweight Point

Pennyweight Point is a highly complex and interesting orebody very different to other prospects at Yundamindra and requires very targeted drilling programme combined with a new approach to interpretation.

The Pennyweight Point prospect is located in the Eastern Line and has some of the highest grade and thickest intersections out of the known gold prospects in the Yundamindra Gold Project. It has had numerous generations of near surface mining and exploration drilling and remains open along strike and at depth (Figure 10).

Figure 10 – Pennyweight Point historical drilling and interpreted zone of mineralisation.

The Pennyweight Point prospect has returned some of Yundamindra’s most outstanding shallow high-grade results shown in the below Table:

Hole_ID	Prospect	Intercept Description
PV095	Pennyweight Point	8m @ 56.36 g/t Au from 44 m
PV055	Pennyweight Point	4m @ 26.14 g/t Au from 36 m
PV105	Pennyweight Point	6m @ 13.69 g/t Au from 46 m
PIV049	Pennyweight Point	12m @ 6.27 g/t Au from 16 m
PV050	Pennyweight Point	20m @ 3.05 g/t Au from 50 m
P008	Pennyweight Point	8m @ 7.51 g/t Au from 36 m
PDDH004	Pennyweight Point	2m @ 26.31 g/t Au from 121.1 m
PV043	Pennyweight Point	8m @ 5.34 g/t Au from 48 m
P055	Pennyweight Point	7m @ 5.44 g/t Au from 87 m
PDDH003	Pennyweight Point	4m @ 7.73 g/t Au from 103.3 m
P013	Pennyweight Point	6m @ 4.95 g/t Au from 54 m
PIV048	Pennyweight Point	4m @ 6.94 g/t Au from 60 m

Historical Significant Intercepts – Pennyweight Point.

Pennyweight Point has developed a deeply weathered profile containing fine to coarse nugget gold occurs within and above ferruginous/calcrete duricrust with dispersed, supergene mineralisation present in saprolite to depths of up to 70m. Pennyweight Point is significantly more complex in geometry, style and mineralisation than other prospects of the Yundamindra Gold Project (Figure 2).

Arika Resources plans to take a methodical approach to drilling with a consistent orientation at Pennyweight Point which has historically been drilled from multiple directions. Unlike the gold prospects on the Western Line of the Yundamindra Gold Project, mineralisation at Pennyweight Point has presented at depth with a small number of historical diamond drillholes reaching a depth over 200m below the surface and mineralisation intersected at 125m.