Alderan was incorporated on 31 July 2013 in Australia and listed on the Australian Stock Exchange (ASX: ‘AL8’) in June 2017. The Company specialises in base and precious metal exploration in the USA. The Board and executive team have decades of mineral exploration experience including multi-commodity discoveries in both junior and major resource companies around the world.
AL8 has four projects in its exploration portfolio, Detroit, Valley Crossroads, Frisco and White Mountain, with tenements held either directly or through option agreements via its USA subsidiary, Volantis Resources Corp. All of the projects are located in the western state of Utah.
Alderan’s objective is to rapidly discover, delineate and develop copper and gold deposits for mining. The Company’s project portfolio has high potential for discovery as it lies in under-explored geological belts with strong similarities to the nearby and highly productive Bingham, Carlin and Battle Mountain mining districts.
Alderan’s exploration at Detroit includes tenement consolidation, stream, rock and soil sampling plus ground magnetic and induced polarisation geophysical surveys. Results indicate strong potential for porphyry intrusive related copper and gold deposits with rock samples assaying up to 3.2% copper and 9.1g/t gold and the focus now is to delineate deposits through drilling so the company can then progress them to resource definition.
In addition to its Detroit programme, Alderan will conduct exploration on other projects in its portfolio to confirm their potential to host copper and gold deposits. At Frisco, Kennecott Exploration (Rio Tinto) is exploring to earn a 70% interest through expenditure of US$30 million with its initial drilling at Cactus Breccia prospect intersecting 41m grading 1.98% Cu and 0.62g/t Au. A key part of Alderan’s programme will also include reviewing new opportunities to secure and upgrade its pipeline of projects in North America.