Alderan listed on the Australian Securities Exchange (ASX: ‘AL8’) in June 2017, specialising in base and precious metal exploration in the USA. Our Board and executive team have decades of mineral exploration experience including multi-commodity discoveries in both junior and major resource companies around the world.
We have three exploration projects in Utah, USA — Detroit, Frisco and White Mountain, with tenements held either directly or through option agreements via Alderan’s USA subsidiary, Volantis Resources Corp.
Our objective is to rapidly discover, delineate and develop copper and gold deposits for mining. The Company’s project portfolio has high potential for discovery as it lies in under-explored geological belts with strong similarities to the nearby and highly productive Bingham, Carlin and Battle Mountain mining districts.
Our district scale exploration at Detroit has included tenement consolidation, stream, rock and soil sampling, ground magnetic and induced polarisation geophysical surveys plus diamond drill testing targets to enable our future exploration to focus on the highest potential prospects. Results from our drilling indicate strong potential for distal disseminated gold deposits at Drum and Mizpah prospects on the margins of the Basin Porphyry intrusive complex. Our focus now is to delineate these deposits through drilling so the company can then progress them to resource definition.
At Frisco, Kennecott Exploration (‘KEX’; a Rio Tinto group company) is exploring to earn a 70% interest through expenditure of US$30 million with its objective the discovery of a porphyry copper deposit. KEX’s initial drilling at Cactus Breccia prospect intersected 41m grading 1.98% Cu and 0.62g/t Au.
A recent UAV (drone) orthophoto and magnetic survey over the Frisco project area identified the Copper Gulch porphyry target immediately south of the Cactus Breccia. Copper Gulch is a 1,500m by 500m anomaly defined by anomalous copper in historical rock samples and a prominent anomaly in depth slices of modelled magnetics.
Our exploration plans also include reviewing new opportunities to secure and upgrade our pipeline of projects in North America.