The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Alderan Resources (AL8) will begin drilling at the Mizpah prospect at the Detroit Mining Project in mid-October
  • The company has reviewed previous work, and completed ground magnetics, rock chip sampling, and geological mapping
  • This work has identified two intense magnetic anomalies
  • A minimum of six holes will now be drilled to test the full thickness of the Mizpah oxide gold mineralisation and known mineralised gold intrusives
  • Alderan has ended the day four per cent in the green with shares trading for 13 cents each

Alderan Resources (AL8) will begin drilling at the Mizpah prospect at the Detroit Mining Project in mid-October.

The Detroit Project lies in the Drum Mountains in Utah, around 56 kilometres northwest of Delta.

These mountains host a range of mineralisation styles such as skarn, porphyry, and Carlin style gold mineralisation.

Carlin style gold mineralisation has favourable structures, common geochemical indicators such as arsenic, antimony, barium, and mercury, and favourable reactive rocks.

Due to complex small-scale ground holdings, this area has had limited exploration.

Any historical work that was undertaken was poorly recorded and is unable to be released in accordance with the JORC 2012 code.

Alderan has now reviewed previous work, and completed ground magnetics, rock chip sampling, and geological mapping.

The company has also completed first-pass mapping and rock chip sampling with results of up to 6.89g/t gold being returned.

These reviews and sampling have identified two intense magnetic anomalies.

A minimum of six holes, for 1200 metres, will be drilled to test the full thickness of the Mizpah oxide gold mineralisation and known mineralised gold intrusives.

Alderan has ended the day four per cent in the green with shares trading for 13 cents each in a $32.72 million market cap.

AL8 by the numbers
More From The Market Online

A junior gold stock undervaluing near-term cash flow potential

Attractive investments in the junior mining space lack market recognition, despite considerably de-risked paths to value creation backed by operational and macroeconomic data.
Two miners in a Westgold Resources dig site.

Westgold glitters with 2.4% gain as lofty gold prices lead to half-year glow

Westgold Resources has traded up today after the gold explorer nearly doubled its half-year revenues on…
Mpama South gravity plant, thickener area, fine tin plant and final product house

One-to-watch profitable mining stock breaks production records, wows investors

A profitable Venture-listed mining stock responsible for 6.5% of the world’s tin recently gifted investors with news it beat its own production record…
Image of a lithium brine project

Pantera begins drilling of maiden test well at Smackover

Pantera Minerals Ltd has commenced drilling of its first test well at the Smackover Lithium Brine…