The Yamarna Project comprises two granted exploration licences and one licence under application, with the principal target zone located along strike from the recent 6.2 million ounce gold discovery at Gruyere by Gold Road Resources Ltd (“GOR”). In early 2015, an agreement signed with the Yilka native title claimants allowed the primary Yamarna Project Exploration Licence E/2889 to be granted and the first exploration to commence since the late 1990’s, when exploration by WMC comprised soil sampling as part of a broader regional survey. The tenement was sampled on a 1,600m x 200m grid, with infill to 400m x 200m around areas of gold anomalism.
Subsequent infill sampling by Montezuma confirmed the soil anomalies and justified follow up aircore drilling in mid 2015. Several phases of follow up aircore geochemcial drilling (blade refusal) identified a 1.5km long basement hosted high tenor gold anomaly at the Jatz Prospect as well as a number of additional anomalies which still require follow up work the the Ryvita, Le Snak and Ritz Prospects.
The widespread and high grade tenor of the results prompted the immediate commencement of follow up RC percussion test the potential for economic gold mineralisation. This is currently underway with results pending.