Yandal Resources Ltd: New High-Grade Intercept - Malone Gold Prospect

Perth, Australia - Yandal Resources Ltd. (ASX:YRL) is pleased to provide an update on exploration activities at the 100%-owned Gordons gold project located 30km north of Kalgoorlie-Boulder in Western Australia (Figure 1*).

Yandal Resources' Managing Director; Mr Lorry Hughes commented:

"The new high-grade gold discovery at Malone is exactly the sort of intercept the team has been searching for in this area over the past year and it is a very positive start for 2022. Last year there was a strong focus on testing the extensive felsic-mafic Malone Contact both in the "Kink Zone" and further along strike.

We drilled a number of RC and diamond holes into the Kink Zone and intersected a number of narrow highgrade and broader low grade intercepts from within sulphidic quartz veins, small shears and intrusive porphyry rocks. This new intercept in YRLRC0727 potentially represents a strengthening of the Malone system, 300m directly west of the Kink Zone.

The extent of the mineralisation is unknown at this stage with large areas nearby considered untested. The two follow-up holes in progress will provide further geological control on mineralisation.

Malone, Malone North and Gordons Dam Prospects

At the Malone Prospect located 500m west of the Gordons Dam gold deposit (Figures 2, 5 and Table 1*), final assay results have been received from 24 reverse circulation ("RC") holes completed to follow-up encouraging mineralisation defined with air-core ("AC") and limited RC drilling.

The best primary intercept to date was returned from hole YRLRC0727 which is located ~300m west of a pronounced flexure of the felsic-mafic geological contact "Kink Zone". The hole, completed to test beneath anomalous AC holes, intersected and three new zones of mineralisation including;

- 17m @ 0.4g/t Au from 101m including 1m @ 2.1g/t Au from 106m
- 15m @ 0.80g/t Au from 145m including 1m @ 6.2g/t Au from 147m; and
- 16m @ 2.8g/t Au from 204m including 5m @ 7.7g/t Au from 210m.

The high-grade core of the deepest intercept contains individual 1m assays including;

- 1m @ 10.9g/t Au from 210m and;
- 1m @ 15.4g/t Au from 212m.

This result is highly encouraging and follow-up RC drilling is underway to firstly confirm the geometry of the high-grades and then to test the mineralisation up to 400m north along the interpreted strike. Previous drilling to the north of hole YRLRC0727 was not deep enough to penetrate into the primary rock and therefore this area is considered to be untested, providing a high priority exploration target.

Assay results from 48 AC holes for 3,376m have been returned from the Malone and Malone North Prospects located up to 1.5km north of the Malone Kink Zone (Table 2*). A number of anomalous intercepts were returned including;

- 2m @ 0.5g/t Au from 49m (YRLAC0824)
- 3m @ 0.5g/t Au from 48m (YRLAC0782)
- 1m @ 0.6g/t Au from 65m and 1m @ 0.1g/t Au at end-of-hole (YRLAC0800)
- 4m @ 0.6g/t Au from 52m and 4m @ 0.2g/t Au from 64m (YRLAC0824 - 4m composite samples)
- 10m @ 0.1g/t Au from 80m at end-of-hole (YRLAC2021 - 4m composite samples)

At the Gordons Dam Prospect (Figures 2, 3, 5 & Table 1*) individual 1m fire-assay results have been received from 24 RC holes completed for 2,335m. Several significant intercepts were returned including;

- 18m @ 1.8g/t Au from 42m including 5m @ 4.9g/t Au from 44m (YRLRC0688)
- 19m @ 1.1g/t Au from 33m including 1m @ 10.7g/t Au from 38m and 1m @ 5.6g/t Au from 45m (YRLRC0701)
- 3m @ 1.7g/t Au from 37m and 1m @ 4.2g/t Au from 37m (YRLRC0708)

The Company is currently compiling an initial Mineral Resource Estimate on the Gordons Dam Prospect.

Andrews and Bradman Prospects

At the Andrews Prospect located immediately south along strike from the Malone and Gordons Dam prospects (Figures 4 & 5*) final assay results have been received from 13 RC holes completed for 2,266m.

The majority of the holes were drilled to test the continuation of the east dipping Malone felsic-mafic contact to the south. Only low level results were returned as outlined in Table 1*.

Approximately 500m east of the felsic-mafic contact 27 AC holes were completed for 1,511m to explore for new mineralisation (Table 2*). A number of highly anomalous results were returned including;

- 2m @ 0.6g/t Au from 35m (YRLAC0705)
- 4m @ 1.0g/t Au from 57m including 1m @ 1.5g/t Au from 57m (YRLRC0716)
- 5m @ 1.1g/t Au from 27m including 1m @ 3.4g/t Au from 30m (YRLRC0740)
- 1m @ 0.4g/t Au from 26m at end-of-hole (YRLRC0741)

A follow-up RC program is currently being planned.

At the Bradman Prospect located ~3km south of Gordons Dam (Figures 4 & 5*) final assay results have been returned from one RC hole and one RC and diamond tail hole (Table 1*). The holes were completed as a follow-up to significant mineralisation intercepted in hole YRLRC0646;

- 11m @ 2.0g/t Au from 257m including 1m @ 9.9g/t Au from 261m (YRLRC0646)

The best results included;

- 9m @ 0.5g/t Au from 222m including 1m @ 2.3g/t Au from 228m (YRLRC0648)
- 7m @ 0.5g/t Au from 222m including 1m @ 2.7g/t Au from 222m (YRLRCD0730)

Results are pending from two recently completed diamond holes (YRLDD0014-15) which were also designed to test for extensions to mineralisation discovered in hole YRLRC0646.

Also at Bradman assay results have been received from 30 AC holes for 1,479m that tested areas immediately adjacent to the Andrews prospect. Only low level anomalism was returned as outlined in Table 2*.

Star of Gordon Prospect

The prospect is located 2km directly NNW along strike from the Gordon Sirdar underground gold mine which is owned and operated by FMR Investments Pty Ltd ("FMR") (Figure 5*). FMR are currently mining ~60,000t of ore per month using conventional underground mining methods and transporting the ore via road haulage for processing at their mill in Coolgardie.

A five hole diamond drilling program has been completed for 1,144m - results pending. The oriented core holes were designed to confirm the geometry and structural aspects of high-grade gold mineralisation returned from earlier RC drilling in 2021 as follows;

- 1m @ 19.8g/t Au from 159m (YRLRC668)
- 45m @ 2.0g/t Au from 18m including 10m @ 8.4g/t Au from 43m (YRLRC630)

Final results are also pending for 73 RC holes for 8,907m completed at the prospect during the December Quarter 2021 and the current quarter.

Next Steps

Key exploration activities planned during the remainder of the March Quarter include;

- Completing priority follow-up RC drilling at the Malone prospect

- Receive and interpret pending AC, RC from the Star of Gordon, Malone, Challenger, Parmelia, Success and HMS Sulphur prospects

- Complete cutting and sampling of diamond core from the Star of Gordon and Bradman prospects

- Compile an initial open pit Mineral Resource Estimate for the Gordons Dam prospect;

- Commence detailed planning and execution of heritage surveys over key prospect areas within the Ironstone Well and Barwidgee projects including priority areas within, adjacent to and along strike from the Newport, Flushing Meadows, Oblique, Quarter Moon, Flinders Park and Sims Find prospects.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/2L6GZY9B

About Yandal Resources Ltd:

Yandal Resources (ASX:YRL) listed on the ASX in December 2018 and has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia. Yandal Resources' Board has a track record of successful discovery, mine development and production.

Source:
Yandal Resources Ltd.

Contact:

Yandal Resources Ltd. Lorry Hughes, Managing Director T: +61-8-9389-9021 E: yandal@yandalresources.com.au WWW: www.yandalresources.com.au