Alderan Resources Limited (ASX: “AL8”) is a critical metals explorer in Brazil and the USA, with a primary exploration focus on seven lithium projects comprising of Governador Valadares, Itambacuri, Itaipe, Carai, Catuji, Minas Novas and Curral de Dentro, in Minas Gerais State, Brazil. The USA exploration projects are centred around the Frisco copper project in Utah.
The Company’s Brazil project portfolio has strong potential for the discovery of lithium deposits. The projects lie within the ‘Lithium Valley’ district of Minas Gerais within Brazils’ Eastern Lithium Belt, which is home to lithium producers and 40 of Brazil’s top 100 mines.
Lithium mines in Lithium Valley include Companhia Brasileire De Litio’s (CBL) Mina do Cachoeira and Sigma Lithium Corporation’s (NASDAQ: SGML; TSX: SGML) Groto do Cirilo and recently announced lithium resources Latin Resources (ASX: LRS) at Colina and Lithium Ionic (TSX.V: LTH) at Itinga.
In the USA, Alderan’s priority is to evaluate the potential for high grade breccia hosted copper deposits at Frisco where drilling at Cactus mine post closure in 1957 includes intersections of 4.9m @ 6.72% Cu within 43.6m @ 1.69% Cufrom 207.9m downhole, 12.2m @ 3.31% Cu within 22.9m @ 2.06% Cu from 1.5m downhole and 41m @ 1.9% Cu, 0.62g/t Au within 74m @ 1.1% Cu, 0.35g/t Au from 252m downhole.