Banjo's Camp Rock Chips Hit Up to 5.3 g/t Au Over 4.5km Strike Length

Discovery Context and Geological Setting

Arika Resources Limited (ASX: ARI) has announced a significant advancement in its Yundamindra Gold Project exploration with the identification of extensive gold-bearing quartz reef structures at the Banjo's Camp Prospect. Situated in the southern corridor of the Yundamindra synform, this area is characterized by a structurally complex 'nose' formation, which geophysical consultants Core Geophysics have highlighted as a prime target for mineralisation.

The project lies within the world-class Eastern Goldfields district of Western Australia, a region renowned for hosting major gold deposits. The Banjo's Camp area features large, parallel east-west trending quartz reefs up to 20 metres wide, collectively extending over a strike length exceeding 4.5 kilometres. This structural complexity and scale are reminiscent of geological settings that have historically yielded significant gold discoveries.

Exploration Results and Sampling Program

In late 2024, Arika completed a systematic rock chip sampling program across Banjo's Camp, collecting 47 samples spaced approximately 80 metres apart. Remarkably, nearly half of these samples returned highly anomalous gold values, with the standout assay reaching 5.3 grams per tonne (g/t) Au from a 10-metre horizontal width channel sample. These results are particularly encouraging given that the Southern Corridor has seen limited modern exploration, with no effective shallow or deep drilling conducted to date.

The sampling methodology adhered to industry best practices, including channel sampling orthogonal to vein strike to ensure representative results. Samples were processed and assayed by Intertek laboratories using fire assay with an OES finish, ensuring high-quality and reliable data. The positive correlation between structural targets identified via geophysical synthesis and the anomalous gold results underscores the robustness of Arika's exploration approach.

Strategic Implications and Next Steps

Managing Director Justin Barton emphasized the transformative nature of these findings, noting that Banjo's Camp adds a compelling new target to an already growing pipeline of drill-ready prospects at Yundamindra. With less than 1% of identified structures having been drill tested, the project’s potential remains largely untapped. The company is poised to commence drill testing as soon as regulatory approvals are secured, aiming to delineate the extent and grade continuity of the mineralisation.

Additionally, Arika awaits assay results from a recently completed approximately 5,000-metre reverse circulation drilling program at the Pennyweight Point and Landed at Last prospects, which could further enhance the project's resource base. The integration of geophysical, geochemical, and geological data continues to refine target prioritization, positioning Arika to unlock significant value for shareholders.

Broader Exploration Context

The Yundamindra Project, operated as an 80/20 joint venture between Arika Resources and Nex Metals Explorations, is strategically located within a prolific gold province. The project's geological framework includes a granodiorite batholith intruding mafic lithologies, with gold mineralisation associated with quartz veining along structural contacts. Historical prospecting and mining activities have been recorded, but modern systematic exploration has only recently intensified under Arika’s stewardship.

Core Geophysics’ structural targeting has been instrumental in identifying priority zones like Banjo's Camp and Queen of Sheba, the latter having already delivered outstanding results. These efforts highlight the potential for multiple, structurally controlled gold deposits within the project area, reinforcing Arika’s strategy of methodical exploration and staged resource definition.