Aldrin Resource Corp is pleased to provide an operational update to shareholders. The Company intends to complete ground geophysical surveys to more precisely define the uranium mineralized Anticline Target on our Triple M Property.
The Triple M Property lies adjacent to Fission Uranium's high-grade Patterson Lake discovery. The increased geophysical resolution on the Anticline Target is the last exploration step before Aldrin's planned 4,000 m drill program to start early in 2015.
Aldrin anticipates that a ground gravity survey can start in December 2015 following completion of its recently announced $450,000 Private Placement. The survey will comprise of in-fill points to increase resolution on existing data, which has already proven successful in defining mineralized structures associated with the Anticline Target. Ground resistivity survey lines will commence soon thereafter.
Drilling will attempt to discover a high-grade uranium core to the Anticline target, which is a strong basement conductor striking northeast and extending more than 2.6 km in length. Aldrin's first drill test discovered the Anticline target to be significantly mineralized with uranium at values consistent with being within a potential halo to a high-grade deposit. The first drill hole (ALN14-008) encountered strong uranium mineralization over significant intervals including:
- 53.4 ppm U over 10.0 m between 178.0 and 188.0 m, including a higher value zone of 148.7 ppm U over 1.5 m between 182.5 and 184.0 m;
- 273 ppm U over 0.5 m between 235.0 and 235.5 m;
- 97.4 ppm U over 3.5 m between 243.0 and 246.5 m, including a higher value zone of 144.8 ppm U over 2.0 m between 243.5 and 245.5 m
(Please see news release dated July 26, 2014 for more details.)
Aldrin's Board of Directors plans to take an aggressive approach to their uranium exploration program. In addition to the Triple M Property's Anticline target, Aldrin is actively evaluating additional property targets for acquisition and/or joint ventures.
Johnathan More, Director and CEO remarked "I believe this is a great time to be focussed on the uranium space. Our Anticline Target is extremely encouraging because it may already be into the halo of high-grade uranium mineralization. We are also encouraged by our active examination of additional joint venture opportunities."