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- Alderan Resources (AL8) commences drilling at its Detroit copper gold project, located in the US state of Utah
- The drilling program is for 10 holes and includes around 3000 metres of drilling at the Basin Complex
- Drilling aims to intersect copper and gold grades over widths that suggest further exploration could result in an economic deposit
- The company is expecting the drilling to extend into the first quarter of 2022 with initial assay results expected before the end of December
- On the market, Alderan is up 4.88 per cent and is trading at 4.3 cents per share at 2:17 pm AEDT
Alderan Resources (AL8) has commenced drilling at its Detroit copper gold project, located in the US state of Utah.
The drilling program is for 10 holes and includes around 3000 metres of drilling at the Basin Complex and will be undertaken by Major Drilling.
Previous surface exploration has identified multiple targets with potential for gold and copper.
Drilling aims to intersect copper and gold grades over widths that suggest further exploration could result in an economic deposit.
The program will commence on site R1 to test the Southern changeability anomaly distal disseminated gold target.
Importantly, Alderan has received regulatory approvals for all drill sites in the 10-hole program.
The company is expecting the drilling to extend into the first quarter of 2022 with initial assay results expected before the end of December.
Commenting on the upcoming drilling program is Managing Director Scott Caithness.
“It is exciting to finally see drilling underway at Detroit after waiting over a month for the rig to be released by its previous client,” he said. “The positive in the delay however is that Alderan has secured regulatory approval for all drill sites and multiple sites are prepared ahead of commencing the drilling program.
“The first two holes will test the Southern chargeability anomaly for distal disseminated gold and the Basin Main magnetic anomaly for porphyry copper mineralisation. Both have highly encouraging surface geochemistry and geophysics exploration results and are priority targets.”
On the market, Alderan was up 4.88 per cent and is trading at 4.3 cents per share at 2:17 pm AEDT.
