- Aldoro Resources (ARN) is preparing for a combined aircore drilling program at the Penny South and Unaly Hill South projects
- A program of work has been submitted for drilling at Unaly Hill and once this has been granted, drilling will commence
- Aldoro will target new areas at Penny South that weren’t tested in earlier drilling programs
- At Unaly Hill, two structural targets will be drilled to test for gold mineralisation
- Company shares are up 14.5 per cent and trading for 8.7 cents each
Aldoro Resources (ARN) has provided an update on its aircore drilling program at the Penny South and Unaly Hill South projects.
Work is currently in progress to contract a rig for a combined aircore (AC) drilling program at Penny South and Unaly Hill South later this month.
At Penny South, the planned program will target new areas around the tenement that weren’t tested in the January and April drilling programs.
A program of work has recently been lodged for drilling at the Unaly Hill South Project. Once this has been granted, drilling will commence.
Two structural target trends associated with anomalous gold-in-saprolite values were identified at Unaly Hill South. The planned AC program will follow up on these results in light of Aldoro’s new geological interpretation of the area.
Penny South
A total of three targets have been identified at Penny South. These include a potential northwest extension of granodiorite unit and granodiorite-mafic contact, southern extension of Penny West Shear and granodiorite, and a magnetic low feature along Youanmi Shear greenstone-granite contact.
Unaly Hill South
The Unaly Hill South Project lies 16 kilometres northeast of the Youanmi Gold Mine and sits along the major regional Youanmi Shear Zone.
The tenement area sits in between the Youanmi Shear and the Yuinmery Shear. This intersection of two major shears is considered favourable for possible gold mineralisation, however, limited gold exploration has been conducted across the tenement in the last 20 years.
Aldoro has recently completed a high-resolution ground magnetic survey over a large portion of the tenement area and compiled a drill hole database of drilling and logging from the 1990s.
The company observed two potential structures, one of which is similar to an area of anomalous gold values and the second is largely untested.
Aldoro has also found that historic anomalous gold results are mostly confined to a northeast-trending talc-chlorite schist unit situated between two sheared granodiorite units.
The planned drilling will test these structural targets and look for the surface expression of small high-grade shoots similar to other deposits along the Youanmi Shear Zone such as Penny West and North.
Company shares are up 14.5 per cent and trading for 8.7 cents each at 3:42 pm AEST.