Arika Resources Ltd – the company formerly known as Metalicity – is set to complete a Placement worth $3.2 million to increase its exploration work at the high-grade Yundamindra gold project in Western Australia. With previous drilling work at the Pennyweight Point target picking up a suite of intercepts grading around and above 3 gram per tonne, Arika wants to accelerate drilling at the project. This will also focus on a shallow gold system which links four prospects together for 2,500 metres along strike, with a view to expanding and testing this – with the Landed at Last and Bonaparte prosp…