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Nex Metals Explorations Ltd ( (AU:NME) ) has issued an announcement.
Arika Resources Limited has announced significant results from its exploration drilling at the Pennyweight Point prospect within the Yundamindra Gold JV Project. The latest drilling has intersected thick, high-grade gold mineralization 100 meters below previous drilling, confirming the continuity of gold mineralization to a vertical depth of at least 250 meters. This discovery highlights the potential for both open pit and underground mining opportunities, with the mineralized zone remaining open for further exploration. The results bolster the company’s confidence in its targeting model and suggest substantial growth potential for the project.
More about Nex Metals Explorations Ltd
Arika Resources Limited (ASX: ARI) is a company engaged in gold exploration, focusing on the Yundamindra Gold JV Project located in the Northeastern Goldfields mining district of Western Australia. The company is involved in identifying and expanding high-grade gold mineralization zones, particularly at the Pennyweight Point prospect.
Average Trading Volume: 155,581
Technical Sentiment Signal: Sell
Current Market Cap: A$7.04M
For detailed information about NME stock, go to TipRanks’ Stock Analysis page.