Yalgoo: A sleeping gold deposit

Premier1 is conducting the first drill testing at the Yalgoo gold project since the late 1980s, with 27 reverse circulation (RC) holes drilled so far.

Drilling has targeted areas that returned high-grade results from rock chips and historical drilling. This includes the Wadgingarra area and the Crescent East, Olive Queen and Carlisle prospects within that.

“The successful completion of the first phase of RC drilling at our Yalgoo project is a key milestone in our systematic exploration strategy,” Premier1 managing director Jason Froud said.

“The identification of multiple high-grade gold anomalies through recent mapping and geochemistry highlights the strong potential of this highly prospective area. We eagerly await the assay results, which will further guide our understanding and next steps.”

Premier1 defined the Crescent East, Olive Queen and Carlisle prospects following recent geochemical sampling and high-resolution drone magnetic surveying, paving the way for the maiden drill program.

The company expects assay results from the 3126m campaign to be ready within four weeks, with exploration now focused on areas north of the Federal prospect and at Mt Kersey.

In the late 1980s, Mount Kersey Mining NL reported an estimate extending only 40m below the surface. This came after exploration conducted between 1985 and 1989.

Premier1 notes that historical drilling was primarily concentrated around known gold mineralisation immediately adjacent to workings dating back to around 1900.

“Very little drilling has been conducted beyond these areas, presenting a compelling exploration opportunity,” Premier1 said.

“Additionally, the drilling near the old workings was relatively shallow, averaging approximately 46 metres in depth. This was standard practice at the time, given the gold price and a focus on obvious oxide targets.

“Since then, the area’s gold potential has remained largely overlooked.”