Arika Resources Expands Planned Drilling Program at Yundamindra, Kookynie Projects in Western Australia; Shares Fall 6%

MT Newswires Live

2025/05/09

Arika Resources (ASX:ARI) expanded its planned drilling program at the Yundamindra and Kookynie gold projects in Western Australia from 6,000 meters to up to 10,000 meters after securing AU$5 million in capital, according to a Friday filing with the Australian bourse.

The program consists of air core, reverse circulation, and diamond drilling, the filing said. It is expected to start in early June.

Arika Resources owns 80% of the Western Australia-based projects, while Nex Metals Explorations (ASX:NME) owns the remaining 20%.

Arika Resources' shares were down over 6% in recent Friday trade, while Nex Metals' shares tumbled past 10%.

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