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Rio Tinto commences Copper Gulch drilling at Alderan’s Frisco Project

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Global Mining Review,

Alderan Resources Ltd has announced that Rio Tinto’s subsidiary, Kennecott Exploration Company (KEX), is commencing drilling on the Copper Gulch prospect at Alderan’s Frisco Project in Utah, USA.

Copper Gulch is a 1500 m long by 500m wide magnetic and copper geochemistry anomaly, which lies approximately 500 m southwest of the historical Cactus copper mine. Past KEX and Alderan drilling at Cactus includes intersections of 41 m @ 1.9% Cu, 0.62g/t Au and 32 m @ 1.2% Cu, 0.3g/t Au in tourmaline breccias.

KEX identified the Copper Gulch target following processing and modelling drone (UAV) magnetic data collected over the Frisco project in 2021. The drone survey aimed to identify new magnetic targets and provide better resolution of existing targets.

KEX has planned one hole to a depth of 500 m to test the magnetic anomaly, with potential for a second hole pending positive results. KEX’s first hole is expected to be completed in July with assays likely by early 4Q22. KEX will await the results of the drillhole before making a decision on whether a follow-up hole is warranted.

Frisco is the subject of an option agreement between KEX and Alderan’s 100% subsidiary Volantis Resources Corp. KEX can earn up to a 70% interest in Frisco by spending US$30 million in three stages over 10 years.

Alderan Managing Director Scott Caithness said:

“Copper Gulch is an excellent porphyry copper target only 500 m southwest of the copper-rich tourmaline breccias at Cactus. Depth slices through the modelled magnetics indicate that the anomaly becomes more prominent at depth with a classic high magnetic core ringed by a magnetic low zone. It is further enhanced by anomalous copper in historical surface rock sampling, porphyry style phyllic and potassic alteration plus pyrite, chalcopyrite and molybdenite mineralisation in peripheral historical holes. The anomaly itself has never been previously drilled.

“Kennecott’s exploration at Frisco has delivered a high potential large scale porphyry target in a copper rich environment. It will be exciting to see the core as the hole progresses.”

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