- Initial drilling by Rio Tinto subsidiary Kennecott Exploration has confirmed prospectivity for copper-gold deposits at Aldrean Resources’ (AL8) Frisco Project in Utah
- Drilling was originally set to start in April 2020 but was delayed by COVID-19
- Kennecott has now completed eight holes of its expanded first-pass nine-hole program, with assay results from the first four holes already received
- Three drill holes obtained significant intersections, including 40.96 metres at 1.9 per cent copper, 0.62 grams per tonne gold, 7.1 grams per tonne silver and 62.8 parts per million molybdenum
- Assay results from the remaining holes are expected shortly
- The 2021 drilling program will complete a ninth hole and an additional three to four holes, depending on COVID-19 developments
- Aldrean shares are down 2.3 per cent, trading at 8.5 cents each
Initial drilling by Rio Tinto subsidiary Kennecott Exploration has confirmed copper-gold prospectivity at Aldrean Resources’ (AL8) Frisco Project in Utah, North America.
After COVID-19 delayed drilling operations from a planned start date of April 2020, so far, Kennecott has completed eight holes of an expanded first-pass nine-hole program, with assay results from the first four holes already received.
Three holes returned significant intersections, including SAWM0001, which recorded 40.96 metres at 1.9 per cent copper, 0.62 grams per tonne gold, 7.1 grams per tonne silver and 62.8 parts per million molybdenum.
SAWM0002 returned an intersection of 12 metres at 0.23 grams per tonne gold while SAWM0004 obtained an intersection of 34 metres at 0.99 per cent copper, 0.14 grams per tonne gold and 13.3 grams per tonne silver.
Results from SAWM0003, designed to test a previously untested buried chargeablility anomaly at the area’s Reciprocity zone, suggested a limited concentration of elements of interest (such as copper) with follow-up drilling deemed necessary.
Kennecott is experiencing COVID-19-related delays in obtaining results for the remaining holes, noting that SAWM0007 was terminated early due to difficult ground conditions.
Aldrean Managing Director Peter Williams said despite the delays, he is “pleased with the results being generated, which show the prospectively of the San Francisco Mountains.”
“There remain outstanding prospects of which many are yet to be tested,” Peter said.
Rio Tinto is poised to earn up to 70 per cent interest on the Frisco project by spending US$30 million (approximately A$38.7 million) on exploration over three stages.
The proposed drill program for 2021 will complete the ninth hole and drill an additional three to four holes, dependent on further COVID-19 developments and contractor availability.
Aldrean Resources shares are down 2.3 per cent and trading at 8.5 cents each at 4:48 pm AEDT.