Adelaide Resources (ASX: ADN) has confirmed some more high grade copper and gold hits from the wholly-owned Alford West prospect, located within the Moonta Copper Gold Project on South Australia’s Yorke Peninsula.
The Yorke Peninsula in general, and the Moonta Project in particular, has the
shallowest cover anywhere along the entire Olympic Copper Gold Province.
Laboratory assay grades exceeded preliminary Field Portable X- Ray Fluorescence analyses, and are considered definitive, with new intersections including:
- 14 metres at 2.60% copper and 0.70g/t gold from 10 metres, including 5 metres at 6.46% copper and 0.35g/t gold; and
- 20 metres at 1.76% copper and 0.33g/t gold from 36 metres.
The company is now spinning the rig for a second program of aircore drilling, which is targeting strike extensions, along with infill drilling on existing traverses to allow confident interpretation of lode dips.
The history of exploration on the Moonta Project is one dominated by large companies, providing the company with a valuable historical dataset and a significant scale opportunity.
Adelaide Resources has around $3 million in cash.
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