- Aldoro Resources (ARN) has updated the market on the progress of its drilling program at the Penny South Project in Western Australia
- The company has completed 30 holes out of a 103 hole program
- Samples from the first 24 holes are being transported back to Perth to get analysed at the laboratory
- The total metres drilled so far is slightly over the planned number, however, the company is still on budget
- Aldoro Resources is up 2.94 per cent on the market this morning, trading at 18¢ apiece
Aldoro Resources (ARN) has updated the market on the progress of its drilling program at the Penny South Project in Western Australia.
The company has reported that the drilling is progressing well, as it has completed 30 holes out of a 103 hole program.
Samples from the first 24 holes (5 drill lanes) are being transported back to Perth to get analysed at the laboratory.
The total metres drilled so far is slightly over the planned number because of deeper overburden and weathering depth to fresh rock. However, the program remains in a budget of $170,000 with less aircore hammer used.
Aldoro says observations from the first two orientation lines provide a good indication that the exploration model for the area appears to be strong and healthy.
Quartz veins have been observed in the drill lines, as well as quartz with fresh sulphide towards the end in hole APSAC007.
“Based on the initial progress Aldoro may consider expanding the current program and is beginning to plan for a deeper follow-up campaign,” the company told the market.
Aldoro Resources is up 2.94 per cent on the market this morning, trading at 18¢ apiece at 11:38 am AEDT.