Aldoro to commence drilling at Penny South in January

By Trevor Hoey. Published at Dec 10, 2019, in Mining

Aldoro Resources Limited (ASX:ARN) has received approval for its Program of Work (POW) relating to the company’s maiden drilling program at the Penny South Gold Project in Western Australia.

A preliminary 5000 metre aircore (AC) campaign is schedule to commence in the second week of January 2020 and should take approximately 3 weeks to complete.

This first pass program aims to test the magnetic low corridor, interpreted as the strike extension of the Penny West Shear by the company’s recent targeting work.

Approximately 100 holes are planned at 100 metre x 25 metre spacing along two kilometres of strike.

Identifying similar mineralisation to nearby deposits

Aldoro will conduct sample analysis for gold and multi-element geochemistry for pathfinder elements known to be associated with mineralisation at the neighbouring Penny West and Penny North deposits.

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 Western Australia.

Commenting on this latest development, Aldoro’s managing director Caedmon Marriott said, “It is exciting to be moving ahead with our maiden drilling campaign at Penny South.

‘’The first pass program aims to test for shallow mineralisation in this target corridor that hasn’t adequately been tested by historic drilling.

‘’Also, we’ll be testing for combinations of gold and pathfinder elements, lithology and alteration, as indications of potential deeper mineralisation to be tested by a subsequent follow up program.”

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.

Thanks for subscribing!

X