Alderan Resources confirms high-grade gold in verification drilling at Detroit project

Alderan Resources ASX AL8 high grade gold drilling Detroit project Drum
Results from Alderan Resources’ remaining drill holes at Drum were “consistent with historical holes” – hitting grades exceeding 1g/t gold.

Alderan Resources (ASX: AL8) has confirmed high-grade oxide gold mineralisation in all verification drill holes at the historical Drum gold mine and Mizpah target within the Detroit project in western Utah.

All holes intersected grades of more than 1 gram per tonne which is reported to be consistent with holes drilled more than 30 years ago.

Best results were 6.3m at 2.9g/t gold within 16.2m at 1g/t below the north end of the East Pit; 6.5m at 2.5g/t gold within 17.8m at 1.7g/t below the south end of East Pit; and 6.1m at 2.3g/t gold and 3.2m at 2g/t Au from surface at the mined north end of the West Pit.

Two of the holes intersected 3.1m at 1.1g/t gold and 5.9m at 1.2g/t gold in oxidised sediments from surface and from 100.5m down hole.

One hole — which did not drill through the target horizon due to drill rods being sheared downhole — highlighted the potential for oxide gold mineralisation to more than 100m below surface and 150m from the West Pit.

Potential for gold mineralisation was also identified in waste dump material through an intersection of 15.9m at 0.42g/t gold from surface.

Consistent grades

The mineralised intersections assay up to 2g/t gold which is consistent with Drum’s historical mined grade of between 1.1g/t and 1.2g/t.

They have been shown to have a shallow dip of approximately 30 degrees to the southwest which is also consistent with modelled historical drill holes.

The mineralisation is between 15m and 20m thick in the Tatow unit and up to 10m thick in the Chisholm Formation and is open to extension beyond these historically-mined unit boundaries.

Extension of deposits

Alderan managing director Scott Caithness said the verification holes provide confidence that significant remnant oxide gold is present to enable an extension of the deposits.

“Gold mineralisation at grades and over widths consistent with our modelling of historical drill holes is a great result… an added bonus is the intersection of gold in waste dump material which opens up a new target not previously considered,” he said.

“Permitting is already underway for the next round of drilling at Drum and Mizpah which will focus on extending the mineralisation and understanding the structural complexity of these deposits.”

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