Aldoro commences gold drilling program at Penny's South
Aldoro Resources Limited (ASX:ARN) has commenced its maiden drilling program at the Penny South Gold Project in Western Australia.
Drilling is expected to take approximately three weeks.
The company received approval for the program in December 2019.
Details of the program
This preliminary 5,000m aircore (AC) campaign will test 2km of the Penny West Shear, notably the magnetic low corridor, interpreted as the strike extension of the Penny West Shear by Aldoro’s recent targeting work.
The target corridor is shown to correspond to a prospective assemblage of low magnetic greenstone and granodiorite units observed to host gold mineralisation at the Penny West project.
Previous holders of Aldoro’s target tenement E57/1045 had only sparsely tested the area. Less than 8% of historic drilling has been undertaken here as you can see in the figure below:
Aldoro plans to drill 100 holes at 100m x 25m spacing along 2km of strike; with 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.
Assay results will be released shortly after the completion of drilling.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
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.
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.