Aldrin Announces Exploration Plans on the Anticline Target
July 31, 2014 (Source: Marketwired) — Aldrin Resource Corp (“Aldrin”) (TSX VENTURE:ALN) is preparing for the drill program to follow up the multiple zones of uranium mineralization discovered at our Anticline Target on the Triple M Uranium Property, adjacent to Fission Uranium Corp (“Fission”)’s Patterson Lake discovery. The first drill hole into the Anticline Target (ALN14-008) intersected strong uranium mineralization over significant intervals including:
|a)||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;|
|b)||273 ppm U over 0.5 m between 235.0 and 235.5 m;|
|c)||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 interprets these multiple intervals of strong uranium mineralization to be consistent with the halo of potential high-grade mineralization. Such high-grade mineralization is typically associated with structures and warrants more precisely defined potential structural controls. Aldrin intends to use high-resolution ground geophysical and geochemical surveys over the Anticline Target area to acquire the necessary structural definition. Surveys will include in-fill ground gravity, to augment the existing gravity data. The original gravity survey data was collected on 200 m spaced lines at 50 m station spacing and showed a significant gravity low anomaly along the conductive axis of the Anticline Target, suggestive of significant hydrothermal fluid alteration in the basement. Follow-up infill gravity stations reduced the line spacing to 100 m, and successfully defined a cross fault that cuts the Anticline target’s conductive axis. Further in-fill is planned to reduce line spacing to 50 m in order to more precisely locate the position of the cross fault – Anticline axis intersection.
Aldrin also intends to complete ground electro-magnetic (EM) surveys to better constrain the strong conductive anomaly associated with the Anticline Target. The Anticline Target’s conductive anomaly was originally defined by the airborne VTEM survey flown in northwest oriented lines at 100 m line spacing. The cross-fault strikes parallel to the VTEM and should be better defined by closely spaced ground EM lines. Aldrin will collect geochem samples concurrent with the ground geophysical surveys to further enhance definition of the Anticline Target. Access to the survey areas will be using the existing drill roads.
Following the completion of the ground geophysical and geochemical surveys, Aldrin will initiate a planned 4,000 m drill program with the goal of discovering high-grade uranium mineralization within the halo first tested by drill hole ALN14-008. The drill holes will test the strong conductive anomaly associated with the axis of the Anticline Target over its 2.5 km strike length. Precise positions of the drill holes will be determined from analysis of the ground geophysical and geochemical surveys described above. Aldrin anticipates that the drill program will start in September and extend until November, 2014. Aldrin is very encouraged to resume drilling after completing some high-resolution ground geophysical surveys, and believes we may be well on the way to discovery at the Anticline Target.
Harrison Cookenboo, Ph.D., P.Geo and Aldrin’s Vice-President of Exploration and Development remarked, “I am excited by the potential of our Anticline Target. I believe we may already have intersected the halo to mineralization and that our next drill program has great potential for discovering high-grade uranium mineralization.”
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Dr. Cookenboo is a Qualified Person (QP) by the standards of National Instrument 43-101. He has reviewed the technical data described above and approves the contents of this news release.
ON BEHALF OF THE BOARD
Johnathan More, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>