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

By Jonathan Jackson. Published at May 28, 2020, in Small Caps

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:

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.

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.

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