Rio Tinto hits 33m at 1.9% Copper and 0.65gpt Gold in Maiden Drill Hole at Cactus Canyon
This announcement was made public by Alderan Resources Limited (ASX: AL8) and highlights have been reposted. Please click here for the full announcement.
HIGHLIGHTS
Maiden assays received for part of the first drill hole at Cactus Canyon Prospect, which is a first “Tier one” test of a 3km strike length mineralised Cu Au system
Cu-Au mineralisation was intersected over 66m at 1% Cu, 0.33 g/t Au, 37 ppm Mo and 4.2 g/t Ag from 219m to 285m
This includes a higher-grade interval of 33m at 1.9% Cu, 0.65 g/t Au, 7.1g/t Ag and 68 ppm Mo from 252m to 285m
Assays ended in mineralisation with results from the remaining 92m of hole pending
Drilling represents the best intersection drilled to date at the Cactus Canyon Prospect
Further assay results from Rio Tinto’s program are expected later this month, with three holes of a four-hole program complete
Rio Tinto is earning up to 70% interest in the Frisco Project through three stages totalling US$30 million exploration expenditure.
Alderan Resources Limited (ASX: AL8) (Alderan or the Company) is pleased to provide initial drill results from Rio Tinto subsidiary Kennecott Exploration’s (KEX) drilling at Alderan’s Frisco copper/gold/silver project (Frisco Project) in Utah, USA, where KEX is earning up to 70% interest by spending US$30 million on exploration.
Kennecott completed two drill holes designed to test the possible continuity of mineralisation between the Cactus and Comet Cu-Au prospects as part of the project wide, four-hole program. Cactus and Comet are part of a potentially 3-kilometre strike length mineral system within the Frisco Project, defined by historical mining, previous drilling by Alderan and airborne magnetics.
Commenting on the maiden results, Alderan Managing Director Peter Williams said:
“We are thrilled with the results of the first drill hole drilled by Rio Tinto a part of their exploration effort to discover a significant commercial mineralised system. This hole extends the mineralised system and hints at very high-grade copper, gold and molybdenum within the mineralised system. There seems to be an interesting relationship between gold and copper, that is maintained from the low grade (1% Cu) to the higher grade, where 1% Cu appears to contain about 0.3 g/t Au. The high-grade copper is in part massive sulphide, which may be able to be mapped out using modern EM technologies, be they borehole, surface and/or airborne. We look forward to further updates by Rio and their continued work in unlocking this potential high-grade copper system.”