Next Investors logo grey

Assay results are in for Aldoro’s Penny South Gold Project


Published 28-MAY-2020 10:53 A.M.


1 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Aldoro Resources Limited (ASX:ARN) today released positive results from its maiden reverse circulation (RC) drilling program at its Penny South Gold Project.

The Penny South Gold Project is contiguous to Spectrum Metals (ASX: SPX) Penny West Project in the Youanmi Gold Mining District, in the Murchison Region of WA.

The RC drilling program consisted of 23 holes for a total of 4,142m and drilled down to a maximum depth of 258m – the previous deepest historic drilling was 90m.

Highlights from assay results from the program include:

  • APSRC015: 4m at 2.1g/t Au from 92m
  • APSRC001: 8m at 1.0g/t Au from 68m

Hole APSRC001 extends down dip mineralisation beneath historic hole 95PSR0673 (2m at 33.98g/t Au).

The table below illustrates significant gold intersections:

arn results

The assay results are 4m composite samples, with individual 1m samples to be assayed to help define a follow up RC program.

Aldoro is also in the process of planning further AC drilling around the Penny South tenement. Drilling will take place along the southern continuation of the target trend and other areas of interest.

A ground magnetic survey was also recently completed. This will lead to geological interpretation and planning for a first pass AC program at the nearby Unaly Hill South project.

Aldoro intends to mobilise an AC drill rig for a combined program across both projects and will update the market as plans unfold.

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (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 and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.