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.

View Our Investment Portfolios

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. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!