Archived News
In August 2021 Finfeed changed from a website that covered ASX listed news to a website
that covered a select range of ASX
listed small cap Biotech stocks that we are personally
invested in: find out more.
The old Finfeed website, and all of the old articles are kept here for record keeping purposes.
VISIT NEW SITEVC1 looms as highly prospective target for Aldoro
3 minute read
Aldoro Resources Limited’s (ASX:ARN) recently undertaken 3D interpretation of the VC1 and VC11 targets located in the Narndee Igneous Complex (NIC) has provided substantial confidence regarding its prospects in the area having revealed the proximity of historical drilling relative to Aldoro’s high ranked VC1 drill target.
The VC1 target is confirmed to be located in a highly prospective geological setting for magmatic nickel-copper sulphides, close to a mafic-ultramafic contact.
VC1 drill holes will target a 8000-18000S modelled conductor which, in conjunction with the favourable geological position, anomalous geochemistry and the geophysical modelling makes it a compelling drill target.
Commenting on the upcoming program Executive Director Joshua Letcher said, ‘’Needless to say, internally we are feeling quite comfortable about the two holes that will be drilled through VC1 as part of the initial drilling program particularly given the target’s shallow depth and significant strike.’’
Historic drilling shows a strong nickel-copper sulphide geochemical signature, immediately west of the VC1 FLTEM conductor model.
The following map shows the broader region where the VC1 and VC11 targets are located.
The elevated levels of nickel and copper, as well as the nickel-copper ratio support the presence of magmatic Ni-Cu sulphides at VC1.
The intercepts differ from those previously reported, and at a 500ppm copper cut-off they better represent the geological context and alleviate inconsistencies identified in the 1 metre resampling dataset.
The VC1 target is interpreted to have an east-northeast strike extent of 60 metres to 70 metres, a plunge extent of 490m at -21 degrees towards the north-northeast, and it has a modelled conductance of 8000-18000S.
The geophysical modelling makes it a compelling drill target in conjunction with the favourable geological position and anomalous geochemistry.
A cross-section looking north shows the proximity of historic drill holes to Aldoro’s VC one bedrock anomaly and drill target.
The VC11 target is interpreted to have an east-southeast strike extent of 60 metres to 70 metres, a plunge extent of 250 metres at -52 degrees towards the south-southwest.
It has a modelled conductance of 500-800S, and although this is a subtle target with limited geochemical and geological support, it is a robust greenfields target warranting drill testing.
Geophysical work paying dividends, promising drilling nearby
Management is further encouraged by its strategy of de-risking its exploration program with the application of multiple geophysical methodologies which it believes will substantially increase the chances for discovery at its flagship Narndee Project.
The Narndee Project continues to be Aldoro's core focus going forward, and the company will provide shareholders with regular updates on exploration progress.
There has been some further encouraging news from other players operating in the region with historical drilling by Maximus Resources (ASX:MXR) intersecting nickel and copper, while appearing to have just missed the strong conductor (+10,000 Siemens) discovered by FLTEM and MLTEM conducted by ARN and ground-truthed with soil sampling.
News & Analysis
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
Publishers Notice
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain.