News that caught my eye this week No. 27

Including a holiday news catch up

Jan 12, 2025

Happy New Year all. This week we return to our regular programing along with a catch up of events over the holidays. The volume of announcements coming in is low as expected for this time of year, but will no doubt pick up.

I have dropper ENR of the tracker as the company provided an update on its Sandover drilling in a quarterly here. This only leaves YRL left with their Siona discovery for which I provide an update below.

I’ve entered the year most fascinated with and researching PGE prospects, so expect a strong bias towards these deposit types in the medium term, maybe even a standalone piece.

In the honorable mentions section I have included announcements from the week just past as well as the holidays. The process of putting this list together along with those in previous weeks leaves me in awe of how many fantastic targets are out there being drilled, and will be drilled. In light of this my predictions for 2025 are as follows:

Sub 100 million MC ASX juniors will make 3-5 genuine Tier 2-3 discoveries this year.
All will be undercover.

Let 2025 prove me wrong and be the year of lots of Tier 1 monsters!

The Tracker

YRL- Siona Discovery (Update Below)

Follow ups

Yandal Resources-YRL- High-Grade Gold at Siona

The company released its final drilling results for 2024 on the 11/12 and it was a bit of a mixed bag. Ultimately, the headline intersect of 17 m at 4.9 g/t Au was welcome with some intervals within it showing visible gold such as that pictured below.

Visible gold was also observed in some intervals within Hole 51 which is thus far the furthest reported drillhole to the NW (excluding 45). Across the section provided for this hole the mineralization appears to be weakening, although assays for hole 52 will need to confirm this.

If we assume this to be the case then the mineralization has been confirmed in excess of 300 m of strike.

I had hoped for higher grades and greater widths around holes 48 and 49, particularly given hole 44 from the discovery announcement demonstrated higher grades in the suspected depleted zone. As stated previously this may be indicative of a plunge within the mineralization, or multiple plunging shoots.

The company will be back drilling with both RC and diamond in January testing both Siona and proximal structural and geochemical targets. It will be interesting to see if mineralization is repeated across proximal structures and along strike as this collectively presents a higher development potential than Siona in isolation.

In terms of the company’s other prospects, I watch these with some interest as the discovery has made me appreciate the technical strength of the team at Yandal, even if the follow up from Siona has landed in the lower quartiles of my expectations thus far.

New interesting targets

None

Honorable Mentions

A few of interest this week and a couple of potential discoveries

AusQuest Limited-AQD- Drilling to commence at Moora Ni-Cu-PGE Project

New Frontier Minerals-NFM- Geophysical Data to define drill targets at Harts Range, NT

Aldoro Resources-ARN- Further 190 meters of Niobium & REE Mineralisation Confirmed

Strategic Energy Resources-SER- Mundi- Electromagnetic survey confirms significant conductor

Estrella Resources-ESR-Exploration Update Timor-Leste

AusQuest Limited-AQD- Drilling commences at Cangallo in Peru

Hammer Metals-HMX- Bullrush JV to Drill High Priority IOCG Targets in Q1 2025

Galileo Mining-GAL- Significant Platinum Group Element Drill Assays