Adelaide Resources’ (ASX:ADN) drilling has returned broad intersections of moderate grade copper mineralisation at the Alford West prospect of its Moonta copper project tenement in South Australia.
The wholly-owned project is 150 kilometres north of Adelaide and located towards the southern end of the world class Olympic Copper-Gold Province.
Notably, the region has established infrastructure including roads, rail, power and port facilities likely to reduce the capital costs of establishing a mining operation.
Results
The eight holes totalling 1,618 metres returned copper in both the Larwood and Bruce zones confirming depth continuity.
Bruce zone
- 20 metres at 0.56% copper and 0.11 grams per tonne gold from 131 metres, including 6 metres at 1.12% copper and 0.17g/t gold from 135 metres; and
- 11 metres at 0.87% copper and 0.10g/t gold from 169 metres, including 9 metres at 1.01% copper and 0.08g/t gold from 170 metres.
Larwood zone
- 17 metres at 0.41% copper and 0.19g/t gold from 93 metres; and
- 11 metres at 0.54% copper and 0.12g/t gold from 166 metres.
The new results will be incorporated with previous drill data and the 3D model of the Alford West deposit updated with a view to releasing a resource calculated under JORC guidelines.
Adelaide Resources is assessing the various options available to fund further substantial drilling at Alford West.
It is currently undertaking a 1,000 metre diamond drilling program at the wholly-owned Barns and Baggy Green gold projects on the Eyre Peninsula, South Australia, with results anticipated to be released around the end of June.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.