Adelaide Resources applies to triple Drummond gold ground

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THE BOURSE WHISPERER: Adelaide Resources (ASX” AND) anticipates tripling its holdings of gold prospective ground with the submission of two new tenement applications in the Drummond Basin in Queensland.

The company hopes the new applications will secure an additional 564 square kilometres of ground, to complement the total area of 838 square kilometres it currently holds.

The applications were made on vacant ground and geological mapping completed by the Queensland Geological Survey records exposures of Drummond Basin group rocks and, in one block, rocks of the older Anakie Inlier basement which also hosts gold mineralisation.

According to the company, historical gold prospects and occurrences are located on the new tenements, with records suggesting they include prospects of epithermal style.

“Upon grant, the company plans to complete an initial program of rock chip sampling, surface geochemistry and geological mapping to define further gold targets,” Adelaide Resources said inits ASX announcement.

Email: adres@adelaideresources.com.au

Website: www.adelaideresources.com.au