Join our daily newsletter At The Bell to receive exclusive market insights
- Aldoro Resources (ARN) has begun a reverse circulation (RC) drilling program at its Penny South Project in Western Australia
- This program will test two areas that were identified in previous aircore drilling, which was completed in February
- These zones show lead and zinc geochemical anomalies, as well as historic intersections of gold mineralisation
- Strike Drilling has been contracted for the program, which is expected to take three to four weeks to complete
- Aldoro has jumped 13.6 per cent and shares are currently trading for 10 cents each
Aldoro Resources (ARN) has begun a reverse circulation (RC) drilling program at its Penny South Project.
Penny South is located 130 kilometres southeast of Mount Magnet in Western Australia, and directly south of Spectrum Metals’ (SPX) Penny West Gold Project.
Historic drilling at the project has encountered significant results such as two metres at 33.98g/t gold, six metres at 1.27g/t gold, and five metres at 1.11g/t gold.
This new RC program will test two target areas that Aldoro identified in previous aircore drilling, which were then studied by structural geologist Dr Damien Keys.
These two target areas show coincident features of potential mineralised zones, lead and zinc geochemical anomalies, and historic intersections of gold mineralisation.
This program will consist of 22 holes for 4000 metres, and an extra three holes have been planned, for 450 metres, which may or may not be drilled depending on the results received.
Aldoro has recruited Strike Drilling for this program, as they have a lot of experience working at Spectrum’s Penny West Project.
Drilling is expected to take three to four weeks and results will be released as soon as possible.
Depending on if any more COVID-19 travel restrictions arise, Aldoro is planning to have a DHEM (downhole electromagnetic) crew at Penny South to test the completed holes.
Based on the results received, the drilling program may be extended.
Aldoro has jumped 13.6 per cent and shares are trading for 10 cents each at 1:46 pm AEDT.
