Base metals explorer Alderan Resources (ASX: AL8) has returned high-grade copper during an exploration campaign at its Frisco project in Utah, United States.
The company today announced assay results from a drilling program focused on the Accrington area, confirming its potential to host a large-tonnage copper-zinc-silver deposit amenable to modern low-cost bulk mining methods.
Best intersections included 54m grading at 1.4% copper, 0.45% zinc, 0.19 grams per tonne of gold and 20g/t silver from 46m, including 14m at 3% copper, 1.15% zinc, 0.22g/t gold and 28g/t silver from 82m.
Assays from another drill hole extended the zone of mineralisation beyond 206m to 216m, revealing 100m at 0.41% copper, 0.3% zinc and 7g/t silver from 116m to 216m, including 6m at 1.8% copper, 0.17% zinc, 29g/t gold and 0.18g/t silver.
In addition, channel sampling undertaken at the historical Massachusetts copper mine in the Accrington area returned 72m at 0.77% copper, 0.3g/t gold and 12g/t silver including 18m at 1.57% copper, 0.35g/t gold and 24g/t silver, as well as 12m at 1.56% copper, 0.86g/t gold and 21g/t silver.
Alderan said drilling is currently ongoing to the south of the Cactus Stock at Accrington East, targeting the outcropping lower and upper garnet skarn in order to demonstrate the continuity of mineralised skarns to the south-west.
Further drilling results are expected later this month, the company reported.
Located in Utah’s Beaver County, the Frisco project encompasses numerous historical mines including the Cactus breccia pipe hosted copper-gold-silver deposit, the Imperial skarn hosted copper-zinc deposit and the Horn silver mine.
Alderan’s primary focus is on the thick copper-zinc-lead-silver-gold bearing garnet skarns that outcrop at Accrington East and at the Imperial mine.
Last week, the company announced it had identified new base and precious metal targets in the southern parts of Accrington through the interpretation of geological, geochemical and geophysical data.
These targets, referred to as Washington, Peacock and Apex, are located along a structural corridor historically named the Reciprocity Shear Zone.
According to Alderan, these prospects likely represent the late stage of skarn development at Accrington and “may be enriched in gold and silver”.
The company’s shares rose more than 41% on the news to $0.255 by early afternoon trade.