Arika Resources Strikes High-Grade Gold at Pennyweight Point

Arika Resources (ASX: ARI) was today's top performer, up 43.8% on the day. The company delivered a standout update from its maiden diamond drilling campaign at the Pennyweight Point Prospect in WA’s Eastern Goldfields, with multiple high-grade gold intercepts confirming significant mineralisation at depth and opening up major growth potential for investors.

The drilling program, part of the Yundamindra Gold JV Project, targeted deeper zones beneath historical workings and has yielded thick, high-grade intersections. Highlights include:

• 13.46m @ 5.28 g/t gold within a broader 35.76m @ 2.14 g/t Au (Hole 25YMD001)

• 5.38m @ 10.62 g/t Au and 4.34m @ 13.05 g/t Au within 23.97m @ 2.54 g/t Au (Hole 25YMD002)

These results lie 50m and 100–150m down-dip from previous shallow hits, notably a spectacular 14m @ 15.48 g/t Au (YMRC077). The mineralisation remains open along strike and at depth, reinforcing the prospect’s potential scale.

The two holes — ARI’s deepest yet in the area — were designed to confirm down-plunge continuity and collect geotechnical and structural data. Their success marks a key step in unlocking the underexplored Eastern Corridor, a 10km-long structural zone with strong gold potential.

“The scale of the Pennyweight Point and Landed at Last prospects are both emerging rapidly, with continuous mineralisation now defined over a significant area – all located on granted Mining Leases,” said Managing Director Justin Barton. “With these prospects remaining open both along strike and at depth, the multitude of high-priority targets identified over the Project, and with less than 1% of currently identified structures drill tested, the Yundamindra Project is emerging as a high-quality discovery and growth opportunity."

Arika has also pinpointed multiple gold-in-soil anomalies from recent surface geochemistry, coinciding with structural extensions far beyond historical workings. These targets are slated for future drilling.

With drilling to recommence shortly, investors are eyeing the upcoming campaign as a major catalyst. All mineralised zones to date sit on granted mining leases, further de-risking potential development.

Yundamindra Gold Project

The Yundamindra Gold JV Project, which includes the Pennyweight Point Prospect, is located 65km south-west of Laverton, 250km north of Kalgoorlie, Western Australia. The Project is a Joint Venture between Arika Resources Ltd (ASX: ARI) and Nex Metals (ASX: NME), where Arika holds 80% and NME holds 20% with Arika acting as Project manager.

The market capitalisation of ARI is A$15.8M at 2.3 cents per share.