Alderan (ASX:AL8) highlights high-grade copper-gold in Utah

Alderan Resources’ 3D modelling has put a spotlight on two open copper-gold deposits and the strong potential for multiple more high-grade, medium-scale discoveries to be made at its Frisco project in the US state of Utah.

Both the Cactus and Comet deposits remain open with potential for more lenses and incremental mineralisation, and modelling found another dozen anomalies characterised by the same magnetic low.

Both deposits were mined intermittently from 1870 to 1957, with Cactus production slated at 1.27 million tonnes of ore at a recovered grade of 2.07% Cu.

The magnetic low at the drill-ready New Years prospect is notably larger than Cactus and has remained untouched since the 1960’s despite returning historical intersections as strong as 10.7 metres at 2.78 per cent Copper.

Alderan Resources Managing Director Scott Caithness said the modelling had confirmed multiple targets for high-grade deposits in the historical copper-gold district.

“The targets are discrete magnetic low anomalies in the TMI inversion model that occur within magnetic low zones interpreted to be zones of alteration along fault zones,” Mr Caithness said.

“The New Years prospect represents an immediate drill target which sits within the NW-SE trending Cactus Canyon fault zone. It is a much larger target than Cactus with a handful of shallow historical drillholes some of which have intersections grading +2% copper.

“Given that 12 separate discrete magnetic targets have been identified, a number of which are much larger than the Cactus anomaly, and utilising the Cactus modelling results it is feasible that a significantly larger copper and gold inventory exists within the historical Frisco copper-gold mining district.”

Forward plan

The next stage is to compile all historical drill data and surface sampling to rank up new targets and design the holes to get drilling on the highest ranked, currently standing as New Years.

And Alderan has exploration underway over its newly acquired Minas Gerais lithium projects in Brazil, where early work has identified lithium indicator minerals in the artisanal mines and plans are laid for drilling in the third quarter of 2024.

Historical intercepts

New Years:

• 10.7m @ 2.78% Cu within 19.8m @ 1.67% Cu (NY-6)
• 10.7m @ 1.52% Cu within 27.4m @ 0.85% Cu (NY-2)
  

Cactus (post-mining):

• 4.9m @ 6.72% Cu within 43.6m @ 1.69% Au from 207.9m downhole (DDH8; no Au assays)
• 12.2m @ 3.31% Cu within 22.9m @ 2.06% Cu from 1.5m downhole (R14; no Au assays)
• 8.0m @ 3.11% Cu, 0.96g/t Au within 32m @ 1.24% Cu, 0.31g/t Au from 61m downhole (ALCA010)
• 6.5m @ 3.11% Cu, 0.55g/t Au from 94.3m downhole (ALCA001)
• 12.2m @ 2.77% Cu within 25.9m @ 1.62% Cu from 42.7m downhole (R13B; no Au assays)
• 41m @ 1.9% Cu, 0.62g/t Au within 74m @ 1.1% Cu, 0.35g/t Au from 252m downhole (SAWM0001)
• 22.9m @ 1.84% Cu from 39.6m downhole (R12; no Au assays)
• 17m @ 1.41% Cu, 0.41g/t Au within 151m @ 0.36% Cu, 0.08g/t Au from 147m downhole (ALCA002)
• 38.4m @ 1.40% Cu from 218.2m downhole (DDH8B; no Au assays)