- Alderan Resources (AL8) intersects thick zones of gold from surface at a prospect within its Detroit project, Utah
- Results from the first six of 22 reverse circulation drill holes completed at the Mizpah prospect range in thickness from 18 to 42 metres and grade between 0.5 to 0.7 g/t gold
- The company says the results confirm the mineralisation in the area starts from surface and in thicker zones than historically delineated
- Further assay and soil sample results are pending and, upon receipt, will be used to plan another round of drilling, and in the meantime, AL8 will carry out metallurgical testwork
- AL8 shares are down 5.5 per cent trading at 0.9 cents at 1:29 pm AEST
Alderan Resources (AL8) has intersected thick zones of gold from surface at a prospect within its Detroit project, Utah.
After receiving the initial assay results from the first six reverse circulation drill holes completed at the Mizpah prospect, AL8 said it could confirm the gold mineralisation starts from surface and in thicker zones than historical delineated.
Alderan used data from drilling completed in the 1980s to define its drill targets in this latest program.
Intersections for the first six of the 22-drill holes completed range in thickness from 18 to 42 metres and grade between 0.5 to 0.76 grams per tonne (g/t) gold.
Additionally, the holes were sampled over five-foot intervals and returned up to 3.96 g/t gold, with five holes returning sample grades over 2.57 g/t gold.
Alderan Managing Director Scott Caithness said the initial results were an “excellent” start for the Mizpah prospect.
“The intersections range in thickness from 18 to 42 metres and grade 0.5 to 0.76 g/t gold, which is higher grade than many heap leach gold deposits in the USA which are either already producing or proposed for production,” Mr Caithness.
“Particularly exciting is that within these mineralised intercepts are more than one g/t gold high-grade zones over thicknesses up to 12.2 metres.”
He added that the results provided “significant encouragement” for not only the remainder of Alderan’s Mizpah assay results but for its planned exploration work in the nearby Basin Main and Midway gold-in-soil anomalies.
Assay results for the remaining 16 holes and infill soil samples are still pending.
Upon receipt of these results, Alderan will plan another round of drilling and, in the meantime, will carry out metallurgical testwork.
AL8 shares were down 5.5 per cent trading at 0.9 cents at 1:29 pm AEST.