Adelaide Resources receives boost from Alford West drilling

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THE DRILL SERGEANT: Adelaide Resources (ASX: ADN) has received further encouragement from the latest round of drilling results from the company’s 100 per cent-owned Alford West prospect, located on the Yorke Peninsula of South Australia.

The Alford West prospect is situated within Adelaide Resources’ Moonta copper gold project.

 

Moonta copper gold project location. Source: Company announcement

 

The latest results are from holes completed during the company’s second round of aircore drilling.

Adelaide Resources said the latest assays from Alford West confirm copper and gold mineralisation over the central 1100 metres of a 3200 metre long auger copper anomaly that defines the prospect.

New drill intersections from Alford West include:

–    18 metres at 2.22 per cent copper and 0.17 grams per tonne gold from 46 metres, including 12 metres at 3.21 per cent copper and 0.19g/t gold from 47 metres;

–    9m at 1.21 per cent copper and 0.17g/t gold from 70m;

–    16m at 2.38 per cent copper and 0.18g/t gold from 60m, including 9m at 3.97 per cent copper and 0.14g/t gold from 66m;

–    12m at 0.41 per cent copper and 1.44g/t gold from 15m; and

–    11m at 1.11 per cent copper and 0.03g/t gold from 42m.

“The latest results have significantly expanded the known dimensions of the Alford West mineralisation,” Adelaide Resources managing director Chris Drown said in the company’s announcement to the Australian Securities Exchange.

“The deposit extends over the entire 1100 metres of strike length tested so far, remains open along strike and at depth, and shows excellent potential to increase further in size.

“Included in the latest results are further copper intersections of very attractive grade, and we can see coherent high-grade zones emerging within the large mineralised system.

“While speculation about the resource grade at Alford West is premature, we are satisfied that the results to date do not preclude achieving a grade comparable to those at operating mines.

“The latest assays also reveal the presence of significant molybdenum mineralisation in one area of the prospect, and molybdenum now presents a third target metal at Alford West.

“We are very satisfied with these new results, and with the positive way this prospect continues to develop for the company’s shareholders.”