- Aldoro Resources (ARN) has received encouraging results from reverse circulation drilling at the Penny South Project in Western Australia
- A total of 113 samples were collected from seven holes and were then analysed for gold by fire assay
- Results peaked at 6.7 grammes per tonne gold and it warrants further follow-up drilling at the area
- The company is also in the process of planning aircore drilling at its Penny South and Unaly Hill South Projects
- Aldoro is up a steady 12.7 per cent on the market this morning and shares are trading for eight cents each
Aldoro Resources (ARN) has received encouraging results from reverse circulation (RC) drilling at the Penny South Project.
Penny South is located 130 kilometres southeast of Mount Magnet in Western Australia and lies directly south of Spectrum Metals’ (SPX) Penny West Gold Project.
A total of 113 samples were collected from seven holes and were then analysed for gold by fire assay.
Significant results include; three metres at 2.5g/t gold from 193 metres including one metre at 6.7g/t gold from 194 metres, and three metres at 2.8g/t gold from 221 metres including one metre at 5.2g/t gold from 222 metres.
“We are encouraged by the results of the company’s first RC program at Penny South,” Managing Director Caedmon Marriott said.
“The results warrant further follow up drilling hoping to find areas of increased grade and or thickness,” he added.
Aldoro will now use these results to plan a follow-up RC drilling program and initial review shows that these holes may not have reached the granodiorite (rock similar to granite) target so this could also be a potential focus.
Samples are also being analysed for lead and zinc pathfinders to determine any connection to high-grade gold areas.
The company is also in the process of planning aircore drilling at its Penny South and Unaly Hill South Projects.
Aldoro is up a steady 12.7 per cent on the market this morning and shares are trading for eight cents each at 10:21 am AEST.