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Alderan Resources (ASX:AL8) - Managing Director, Scott Caithness
Managing Director, Scott Caithness
Source: Scott Caithness/LinkedIn
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  • Alderan Resources (AL8) completes the first two holes of its 10-hole drilling program at its Detroit copper-gold project in Utah
  • Major Drilling was contracted to undertake a 10 hole program at the Basin Complex after surface exploration identified multiple targets with gold and copper potential
  • These first two holes tested the southern chargeability anomaly and the Basin Main magnetic anomaly porphyry copper-gold-molybdenum target
  • Assay turnaround is currently eight weeks and results are expected in January 2022
  • Alderan ends the day 2.56 per cent in the green with shares trading at four cents

Alderan Resources (AL8) has completed the first two holes of its 10-hole drilling program at its Detroit copper-gold project in Utah.

The Detroit Project lies roughly 290 kilometres southwest of Salt Lake City and contains multiple copper, manganese and gold mines.

Major Drilling was contracted to undertake a 10-hole diamond drilling program at the Basin Complex after surface exploration identified multiple targets with potential for gold and copper deposits.

Drilling is aiming to intersect copper and gold mineralisation with an overall aim of defining a mineral resource at the Basin Complex.

These first two holes tested geophysical targets and were drilled to their planned depths of 332.4 metres and 513.07 metres.

The first hole, 3DD21-001, tested the southern chargeability anomaly and intersected a sequence of grey limestone and fine-grained calcareous sediments.

The second hole, 7DD21-002, tested the Basin Main magnetic anomaly porphyry copper-gold-molybdenum target but was abandoned due to drilling difficulties and was re-drilled at 7DD21-003.

Occurrences of quartz veins, veinlets, stockworking, minor molybdenum and chalcopyrite were present throughout the hole.

Samples from hole 7DD21-001 have been sent to ALS laboratory in Nevada for analysis while sampling of hole 7DD21-003 is expected to be completed next week.

Assay turnaround is currently eight weeks and results are expected in January 2022.

Managing Director Scott Caithness commented on the drilling programme.

“Drilling at Detroit is progressing well with good daily meterage rates being achieved by the Major Drilling team,” Mr Caithness said.

“Samples are being progressively submitted for lab analysis with initial assays expected in January 2022.”

The drill rig has now moved to site E in the Copperhead area with four holes planned to test the Northern Extension chargeability anomaly.

This site lies in close proximity to the Copperhead fault zone where sampling has returned up to 9.1 grams of gold per tonne and 3.2 per cent copper.

Alderan has ended the day 2.56 per cent in the green with shares trading at four cents in a $16.59 million market cap.

AL8 by the numbers
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