Arika extends high-grade gold system at Yundamindra’s Pennyweight Point

Nex Metals Explorations Ltd ( (AU:NME) ) has issued an update.

Arika Resources has reported a series of strong reverse circulation drilling results from the Pennyweight Point prospect at its Yundamindra Gold Project in Western Australia. New assays confirm gold mineralisation from surface over a 350m strike length to 250m depth, with several wide, high-grade intercepts including 21m at 4.65g/t gold from 252m in the deepest hole drilled on the project to date.

The latest drilling has extended the known high-grade system both along strike and at depth, demonstrating improving grades at depth and leaving the deposit open in multiple directions. These results underpin Arika’s plan to move Pennyweight Point towards a maiden mineral resource estimate while accelerating drilling with a second rig, positioning the project for potential underground development and ongoing news flow for investors.

The most recent analyst rating on (AU:NME) stock is a Sell with a A$0.02 price target. To see the full list of analyst forecasts on Nex Metals Explorations Ltd stock, see the AU:NME Stock Forecast page.

More about Nex Metals Explorations Ltd

Arika Resources Ltd is an Australian gold exploration company focused on its Yundamindra Gold Project in Western Australia’s Northeastern Goldfields. The company holds 80% of the project with an agreement in place to move to full ownership, targeting high-grade, near-surface and depth-extensive gold mineralisation suitable for both open pit and potential underground mining.

Average Trading Volume: 149,211

Technical Sentiment Signal: Sell

Current Market Cap: A$6.37M

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