Yandal Resources Ltd: Exploration Update - Mt McClure Gold Project

Perth, Australia - Yandal Resources Ltd. (ASX:YRL) is pleased to report that it has confirmed and extended significant mineralisation at a number of prospects within the 100%-owned Mt McClure gold project in Western Australia (Figures 1-6*).

Yandal Resources' Managing Director; Mr Tim Kennedy commented:

"At the key Success, Parmelia and Challenger open pits we have confirmed the mineralised envelopes are predictable, continue to considerable depths and remain open beneath 250m. We know from historic drilling beneath the pits there is potential for high-grade zones however these zones are likely to have a plunge component which cannot be resolved with the current broad spaced (400m) deeper drill pattern. A review of all drilling, including shallower historic holes will be aimed at providing us with sufficient information to predict and test plunging higher-grade shoots.

"Also of particular interest is the area immediately beneath the Success and Challenger pits where a substantial amount of historic drilling was undertaken. Data validation and recent drilling by Yandal indicates there may be opportunity to compile an initial Mineral Resource Estimate based on existing drilling. This opportunity is being evaluated and forms part of the "important next steps" detailed further in this announcement."

The project is located 20km via existing haul roads from the Bronzewing processing facility owned by Northern Star Resources Ltd. (ASX:NST).

Eighteen angled reverse circulation ("RC") holes for 4,969m between 170-400m depth were completed in the December Quarter 2021 to validate and extend known mineralisation at four prospects.

The program was designed as a follow-up to initial confirmation drilling completed by the Company between 2019-20211 and substantial historic drilling completed between 1990 - 2011.

Though the drilling program did not locate high grade zones, it did confirm the mineralisation to a down-dip extent up to 300m beneath the pits (Success).

A full review of the substantial historic drilling database combined with data from recent Yandal Resources drill programs is being undertaken to determine the likelihood and potential location of higher-grade shoots and also the potential to establish an initial Mineral Resource Estimate immediately beneath the base of the Success and Challenger pits.

Success and HMS Sulphur Prospects (Figures 1-3, Table 1*)

Two holes for 734m were completed at the Success Prospect confirming significant mineralisation continues beneath the ~85m deep historic open pit mine and beyond the limit of previous RC and diamond drilling (Figure 3*). Highlights from the current program include;

- 11m @ 0.8g/t Au from 322m including 2m @ 2.3g/t Au from 322m (YRLRC1030)

Significant intervals from some of the historic drilling beneath the base of the open pit include:

- 8m @ 3.2g/t Au from 140m (ARLMM3006)
- 6.60m @ 4.1g/t Au from 154.80m (ARLMM3030D)
- 5m @ 4.0g/t Au from 204m (GCMSUC3)
- 7.10m @ 3.1g/t Au from 180.90m (ARLMM3031D)
- 4.6m @ 3.6g/t Au from 185.90m (ARLMM3033D)

The prospect has been drilled at a maximum drill spacing of ~50m along the entire 600m strike length and at a maximum drill spacing of 40-50m down dip in most areas. Mineralisation has been intercepted at up to 290m vertical depth in places and it is not closed off. Drilling data is being interpreted to better understand the controls to mineralisation and specifically high-grade shoots down plunge. Drill data density and quality is being examined to determine if it would support compilation of an initial Mineral Resource Estimate.

New RC drilling was also undertaken at the HMS Sulphur Prospect which occurs ~200m into the footwall of the Success prospect (Figures 1 & 3*).

Nine RC holes for 1,819m were completed at HMS Sulphur to test for mineralisation down dip at between 200-250m below surface. A number of drilling problems occurred during execution of the program and target depth was not reached in most places. A number of shallow intercepts were returned including;

- 16m @ 0.4g/t Au from 40m including 1m @ 2.6g/t Au from 45m (YRLRC1021)
- 4m @ 0.7g/t Au from 76m including 1m @ 2.5g/t from 76m (YRLRC1024)

Notably, these shallow results occur in the northern extensions of the Success mineralised horizon and with the known gold depletion that occurs in this area, are highly significant. Given these encouraging results from what is still early-stage drilling, a follow-up drilling program is being planned.

Parmelia Prospect

At the Parmelia Prospect four holes for 1,216m were completed to test for gold mineralisation beneath the shallow Parmelia open pit (Figures 1, 4 & 5*). One hole was particularly encouraging and confirmed mineralisation over 240m down dip from the base of the pit.

The interval included;

- 8m @ 1.2g/t Au from 267m including 1m @ 5.0g/t from 272m (YRLRC1032A)

The area beneath the Parmelia pit has received very little drilling to specifically target depth extensions for the entire ~600m strike length of the known mineralisation, due mostly to a perceived pinching out of gold mineralisation defined by limited depth extension drilling. Historic drilling was too shallow to intersect the gold mineralisation discovered by Yandal Resources with its last two deeper RC programs in this area.

Challenger Prospects

Three holes for 1,200m were completed at the Challenger North, Central and South open pits to extend mineralisation defined with recent and historic drilling. Highlights include;

- 12m @ 1.2g/t Au from 255m including 7m @ 1.7g/t from 259m (YRLRC1017)

Significant intervals from some of the previous drilling completed by Yandal Resources' and historic owners include;

- 7m @ 9.1g/t Au from 79m (ARLMM1368)
- 9m @ 4.5g/t Au from 91m (ARLMM1656)
- 5m @ 3.9g/t Au from 93m (ARLMM3089)
- 7m @ 2.6g/t Au from 84m (YRLRC409)

Next Steps

Key exploration activities planned during the June Quarter includes;

- Diamond and RC drill test high-grade mineralisation adjacent to the "Kink Zone" at Malone (Gordons Gold Project)

- Complete Heritage Surveys at Ironstone Well and Barwidgee Projects in preparation for reconnaissance aircore drilling between Flinders Park and Flushing Meadows, along strike from Oblique and Quarter Moon and RC drilling in the vicinity of Sims Find.

- Complete the initial Mineral Resource Estimate for Gordons Dam.

- Review drilling at Mt McClure to establish controls on potential higher grade plunging shoots and the potential for establishing an initial Mineral Resource Estimate at Success and Challenger.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/29M8DS43

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:

Tim Kennedy Managing Director - CEO Yandal Resources Ltd. E: yandal@yandalresources.com.au Bianca Taveira Company Secretary T: +61-8-9389-9021 E: yandal@yandalresources.com.au