- Aldoro Resources (ARN) is halfway through its reverse circulation (RC) drilling program at the Penny South Project
- This program is testing two areas that were identified by previous aircore drilling earlier in the year
- Initial observations of these holes indicate the exploration model at the project is working well
- Samples will be sent to a Perth lab next week for analysis and results are expected in four to six weeks
- Aldoro has dropped 7.41 per cent with shares currently selling for 12.5 cents each
Aldoro Resources (ARN) is halfway through its reverse circulation (RC) drilling program at the Penny South Project.
Penny South is located 130 kilometres southeast of Mount Magnet in Western Australia and is located directly south of Spectrum Metals’ (SPX) Penny West Gold Project.
Drilling at Penny South began on April 2 and the program will be testing two target areas that Aldoro identified in previous drilling.
These two areas show features of potential mineralised zones, historic intersections of gold mineralisation, and lead and zinc geochemical anomalies.
Aldoro today announced that the first 11 holes, of the 22 hole program, have been completed.
All of these holes were drilled in the southern area and the drill rig is now moving to test the northern portion.
Despite not yet being affected by COVID-19, operations have progressed slower than expected due to the clay being quite hard and significant water was encountered.
Initial observations of these holes provide a good indication that the exploration model at Penny South is working well as sulphidic quartz veining was found in five of the holes.
Samples from these 11 holes will be sent to the laboratory in Perth next week for analysis and results are expected in four to six weeks.
Aldoro has dropped 7.41 per cent with shares selling for 12.5 cents each at 11:21 am AEST.