- Aldoro Resources (ARN) has begun its maiden drilling program at the Penny South Project
- The 5000 metre aircore campaign aims to test the magnetic low corridor
- Drilling is expected to take three weeks with results to follow shortly after
- Aldoro has gone up 9.68 per cent with shares trading for 17 cents apiece
Aldoro Resources (ARN) has begun its maiden drilling program at the Penny South Project.
The company received a program of work approval to begin drilling at Penny South in December 2019.
“It is exciting to be moving ahead with our maiden drilling campaign at Penny South,” Managing Director Caedmon Marriott said at the time.
“This first pass program aims to test two things: firstly, for shallow mineralisation in this target corridor that hasn’t been adequately tested by historic drill and secondly, for combinations of gold and pathfinder elements,” he added.
This preliminary 5000 metre aircore (AC) campaign aims to test the magnetic low corridor, interpreted as the strike extension of the Penny West Shear.
Based on an exploration model for Penny South, the target corridor is shown to correspond to a prospective collection of low magnetic greenstone and granodiorite unites observed to host gold mineralisation at the Penny West Project.
This target area of Aldoro’s tenement E57/1045 has only been sparsely tested by previous holders with less than eight per cent of historic drilling.
Approximately 100 holes are planned at 100 by 25 metre spacing along 2 kilometres of strike.
Sample analysis for gold and multi-element geochemistry for pathfinder elements known to be associated with mineralisation at the neighbouring Penny West and Penny North deposits.
Drilling is expected to take approximately three weeks, with assay results to follow after the completion of drilling.
Aldoro has gone up 9.68 per cent with shares trading for 17 cents apiece at 12:50 pm AEDT.