Alderan set to drill at New Years prospect after 3D modelling results
Melbourne, Victoria
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May 06, 2024 03:00 PM Eastern Daylight Time
Alderan Resources Ltd (ASX:AL8) managing director Scott Caithness sits down with Propactive’s Jonathan Jackson to discuss results from last quarter and upcoming drilling at the New Years copper-gold prospect within its Frisco project in Utah, USA. This decision follows advanced 3D modelling of the historic Cactus-Comet copper-gold mines and detailed analysis using drone magnetics, which revealed multiple promising copper-gold deposit targets. Notably, the New Years prospect is identified by a significant magnetic low anomaly, roughly twice the size of that at Cactus, and is part of a larger complex anomaly encompassing three lows. Positioned 400 metres from Cactus along the NE-SW Cactus Canyon Fault structure, New Years presents potential mineralisation over a 1-kilometre stretch, evidenced by historical shallow drilling results such as 13.7 metres at 2.32% copper. Historically, the area has been underexplored since the 1960s and the existing shallow drilling has not adequately tested the anomaly. Drilling at New Years is scheduled to commence in late Q2 following permitting and site preparation, complemented by soil sampling to prioritise further drilling targets. Simultaneously, Alderan is progressing with a stream and rock sampling program in its seven lithium project areas in Minas Gerais, Brazil. This effort is part of its exploration activities in the region known as Lithium Valley, with initial assay results expected early May.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
