Alderan Resources Limited (AL8) is gearing up for a Stage 1 diamond drilling program at the New Years prospect, part of its Frisco copper-gold project in Utah, USA.
The program, scheduled to commence in June 2024, will consist of four holes totalling 540 metres, with an additional six holes (1,500 metres) planned for Stage 2 pending the results of the initial drilling.
The company has also begun soil sampling over the composite New Years magnetic anomaly to extend coverage from the 1960s, with grades up to 0.31% Cu.
The anomaly, double the size of the Cactus anomaly, forms part of a composite anomaly with two additional lows.
Historical drilling highlights the potential for continuous mineralisation over more than one kilometre along the Comet-Cactus-New Years trend. Downhole sample assays at New Years have graded up to 5.4% Cu and 0.67g/t Au, with surface rock sample assays up to 4.59% Cu.
Despite this, New Years has not seen exploration since the 1960s, and historical drilling was shallow, leaving the prospect largely untested.
Scott Caithness, Managing Director of Alderan, expressed excitement about drilling at New Years, noting the high-grade intersections and surface samples.
He highlighted the potential for continuous mineralisation along the trend from Comet to New Years and the importance of the upcoming soil sampling program.
The Stage 1 drilling will verify historical holes and test the Cactus Canyon fault structure between Cactus and New Years.
If successful, it could extend mineralisation over 1.2 kilometres.
Stage 2 drilling will target geological and geophysical anomalies, including new resistivity lows similar to those at Cactus.
The soil sampling program aims to identify high-potential drill targets within the magnetic anomaly and assess soil sampling’s effectiveness in prioritising additional magnetic anomalies in the area.
The program will overlap with historical soil sampling, which showed anomalous copper grades and suggested soils could effectively identify targets.
Alderan’s preparations underscore the potential of the New Years prospect and its commitment to unlocking value at the Frisco project.
