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Adelong Gold Commences Phase 2 Exploration at Paraiba Tenements in Brazil

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THE DRILL SERGEANT: Adelong Gold (ASX: ADG) has commenced Phase 2 exploration activities at the company’s Paraiba tenements in Brazil.

Adelong Gold explained the new exploration phase is designed to build upon previous preliminary reconnaissance results while enhancing the company’s understanding of the mineral potential in the region.

The 10 Brazilian licenses that Adelong was granted in March this year in the Paraiba Province project are divided into two blocks: North Block (2 tenements near the Nova Palmeira town) and Southwest Block (8 tenements near the Taperoá town).

The granted licenses represent two areas approximately 82km apart.

Area 1 comprises two licenses covering 11.31 square kilometres, rated as highly prospective for lithium pegmatites and surrounded by permits already granted for such minerals as beryl and tantalum.

Area 2 comprises 8 licenses covering a total area of 151.49sqkm.

Within this shear zone, there are beryl and aquamarine occurrences and granted tenements, suggesting this shear zone hosts pegmatite deposits.

“We are excited to commence Phase 2 of our exploration at the Paraiba Tenements,” Adelong Gold managing director Ian Holland said in the company’s ASX announcement.

“The initial findings, along with those of some of our neighbours, have been very promising.

“This next phase will allow us to further evaluate the potential of this region.

“Our goal is to unlock significant value from these tenements and contribute to the growth of Adelong Gold.”

 

TO READ THE FULL ANNOUNCEMENT: CLICK HERE

 

 

 

 

Roadhouse Roadshow Brings Melbourne Punters Together

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CONFERENCE CALLER: The Resources Roadhouse presented its inaugural Roadhouse Roadshow this week.

The Roadhouse welcomed punters to the auspicious surrounds of the Kelvin Club in the Melbourne CBD to listen to presentations from four ASX-listed companies.

Encounter Resources (ASX: ENR) executive chairman Wil Robinson provided plenty of food for investment thought giving an insightful look at the company’s large portfolio of 100 per cent-owned projects in one of Australia’s exciting mineral provinces considered prospective for copper and critical minerals including the Aileron project in the West Arunta region of Western Australia.

Encounter Resources executive chairman Wil Robinson presenting to the Kelvin Club throng

Adelong Gold (ASX: ADG) managing director Ian Holland explained how his company is on track to becoming a mineral producer at the company’s Adelong Goldfield project in New South Wales as well as giving a brief look at its new lithium project in Brazil.

Bass Oil (ASX: BAS) managing director Tino Guglielmo steered the room on an oil & gas tack explaining the benefits the company is earning as an oil producer with majority interest in eight permits in the Cooper Basin of Australia that includes the 100 per cent-owned Worrior and Padulla oil fields.

Alto Metals (ASX: AME) managing director Matthew Bowles closed the day’s presentations by enlightening attendees on the company’s aspirations for the shallow, open pit gold resource of 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces across its Sandstone Gold Project in Western Australia.

Punters and presenters alike, left the day with a sense of either having learned something new to think about or having met a new set of prospective investors that showed much interest after the formal part of proceeding was complete.

There will be more Roadhouse Roadshows in the future. Keep an eye out for these as they arise.

Gold Companies on the Bill at Roadhouse Roadshow

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THE CONFERENCE CALLER: The Resources Roadhouse will be on the road again in a couple of weeks. This time we will be in Melbourne presenting our inaugural Resources Roadhouse Roadshow. Here’s a quick bite of two of the companies that will be presenting.

Adelong Gold (ASX: ADG) has declared itself as being on track to becoming a mineral producer at the company’s Adelong Goldfield project in New South Wales.

Adelong Gold acquired the project in May 2020 that currently hosts a JORC 2012-compliant Resource of 188,000 ounces.

The most recent news to filter out of the project was completion of a soil sampling program to the north of the Currajong deposit that had been designed to test an area to the north-west of the Adelong Mill and resulted in defining several new drill targets.

The soil sampling program was carried out to the north of the Currajong deposit, with 191 samples taken on 10 lines covering a one kilometre strike length.

Results included five samples of greater than one gram per tonne gold with a peak result of 1.75g/t gold whilst highlighting potential for multiple lines of mineralisation striking NNW similar to the adjacent deposits in the immediate area of Challenger, Currajong and Caledonian.

“We are very encouraged with the results of this soil sampling program, which highlight the potential for extension of mineralisation to the north of the Currajong deposit within close proximity of the Adelong Mill,” Adelong Gold managing director Ian Holland said at the time.

“The Scoping Study demonstrates an attractive commercial operation to be developed at Adelong, and so the discovery of further shallow mineralisation nearby augurs well for this project to grow further.”

Adelong Gold has further drilling planned within the key deposits mentioned above (Challenger, Currajong and Caledonian) that comprise the Scoping Study currently underway with a view to potentially upgrading and extending these sources.

This will underpin works to upgrade the current study to allow for a range of funding options to be considered for the development of the Adelong gold project.

Alto Metals (ASX: AME) also is also keeping drillers busy with a regional aircore (AC) drilling program having got underway at the company’s 100 per cent-owned Sandstone gold project in Western Australia.

Alto Metals has an initial approx. 4,000 metres program planned to test shallow gold targets that were identified via a recent infill soils sampling program at the Sandstone North prospect.

The infill program returned gold results that delineated a coherent gold anomaly over 1km strike, including values of up to 100ppb gold.

The location of the gold anomaly also correlates with a major north-south trending interpreted shear zone along a regional fold axis, in a similar position and approximately 1.5kms along strike, from historical workings and high-grade drilling results.

“We are pleased to have a rig back on site drilling at our Sandstone gold project,” Alto Metals managing director Matthew Bowles said in the company’s ASX announcement.

“Given the structural setting and high-grade gold results reported in historical drilling at Sandstone North, we are excited to be testing these compelling regional gold targets.

“We continue to focus on advancing our Sandstone gold project and Sandstone North demonstrates the quality of our regional project pipeline.

“We look forward to providing shareholders with updates on the results of the drilling when they are received.”

Alto Metals currently has a shallow, open pit gold resource of 17.6 million tonnes at 1.5 grams per tonne gold for 832,000 ounces optimised and pit-constrained within $2,500/oz pit-shells.

Of note, the mineral resources are shallow with over 90 per cent within 150m from surface.

The optimised and pit-constrained MRE captures over 80 per cent of the total unconstrained MRE of 23.5 million tonnes at 1.4g/t gold for 1.05 million ounces.

The Roadhouse Roadshow will be at The Kelvin Club in Melbourne of Wednesday April 24.

Melbourne readers are welcome and encouraged to attend. To save your place follow this link to register:

https://vert.eventsair.com/resources-roadhouse-roadshow-april-2024/registration