- The Western Australian company has a portfolio of projects on Yandal belt.
- Shareholders backed the companys drilling and explorations campaigns to the tune of $2.9 million earlier this year.
- The companys commercialisation strategy involves looking for new discoveries and exploring prospective gold ground for good finds.
- To intersect double-digit grades at depth gives us further encouragement the geological mechanisms in place at Gordons Dam are potentially favourable to host a significant gold deposit.
Yandal Resources managing director Lorry Hughes
What does Yandal Resources do?
Yandal Resources Ltd (ASX:YRL) is a Western Australian explorer on an active campaign to turn up new resources.
Nedlands-based Yandals two-pronged approach is to build shareholder value by looking for new discoveries and exploring ground known to be prospective.
The western suburbs company had $5.8 million cash at the end of September 2019 after being fuelled by a $2.9 million capital raising earlier this year to advance its exploration program.
Who leads Yandal Resources?
The company is led by managing director David “Lorry” Hughes, an economic geologist with more than 24 years experience.
Hughes was previously executive director at Horizon Minerals Limited (ASX:HRZ) and managing director and CEO of South Boulder Mines Ltd (ASX:STB).
The company builder has held a number executive and senior management postings focused on mining and development at a number of high-profile companies.
These companies include Energy Metals Ltd, CSA Global, Rio Tinto Limited (ASX:RIO) (LON:RIO) (NYSE:RIO) (OTCMKTS:RTNTF) and Barrick Gold Corp (NYSE:GOLD) (TSE:ABX) (ETR:ABR) (BCBA:ABX).
What does Yandal Resources own?
Yandal holds a number of exploration projects in its portfolio, including the 100-square-kilometre Gordons Gold Project north of Kalgoorlie in WA.
Gordons Dam is north of Yandal shareholder Northern Star Resources Ltds (ASX:NST) (FRA:NS7) (OTCMKTS:NESRF) 12 million ounce-plus Kanowna Belle deposit.
Investor Northern Star is active in the region and hopes to snap up another junior company in the region, Echo Resources Limited (ASX:EAR) (FRA:E1L), which has plans to reopen an Eastern Goldfields mill nearby.
Besides Gordons, Yandals attention is focused on three other priority projects.
The project and Gordons contain multiple prospects along the Yandal greenstone belt, home to a number of Tier 1 gold deposits.
Yandal is funded to undertake exploration activities at all four of its priority projects.
The company is actively drilling two other projects, the Ironstone Well and Barwidgee gold projects.
