Yarri Rock Chip Samples Return Over 8g/t Gold in Initial Assays

Strong Assay Results at Yarri

Nelson Resources Limited has delivered encouraging exploration news with initial assay results from its Yarri tenements showing high-grade gold mineralisation. Rock chip samples collected at the Hidden Treasure and Gibberts prospects returned gold concentrations exceeding 8 grams per tonne, a significant indicator of potentially valuable deposits. These results build on previous findings and suggest the presence of robust mineralised zones within the project area.

Expanding the Exploration Horizon

Importantly, the recent sampling has identified new lithological hosts for gold mineralisation within the Yarri corridor. Previously, mineralisation was largely associated with the Yarri Monzogranite margin, but the discovery of mineralised veins within sheared mafic volcanic units opens up fresh exploration targets. This broadens the geological understanding of the area and could lead to the identification of additional gold-bearing structures.

Pending Confirmation and Strategic Focus

Some of the high-grade samples exceeded the detection limits of the initial assays and have been submitted for re-assay to confirm their grade. This step is crucial for validating the initial promising results and will guide the company’s next exploration moves. Meanwhile, no field activities were undertaken at the Woodline, Tempest, and Fortnum projects during the quarter, indicating a strategic focus on the Yarri tenements for now.

Financial Position and Future Prospects

Nelson Resources reported exploration and evaluation expenditure of $63,000 for the quarter, alongside administration costs of $111,000. The company ended the period with a healthy cash balance of approximately $1.57 million, providing a solid financial foundation to advance ongoing exploration and evaluate new project opportunities. Discussions and due diligence on potential acquisitions continue, though no commitments have been made yet.

Outlook

The combination of high-grade assay results and the identification of new mineralisation hosts positions Nelson Resources well for the next phase of exploration. Investors will be watching closely for the re-assay outcomes and any updates on new project acquisitions that could further enhance the company’s portfolio.