Alderan (ASX: AL8) listed on the Australian Securities Exchange in June 2017, with a focus on copper and gold exploration in the USA. Our Board and executive team have decades of mineral exploration experience including multi-commodity discoveries in both junior and major resource companies around the world.
Alderan’s objective is to rapidly discover, delineate and develop critical metal deposits for mining. Following the acquisition of lithium projects in Brazil in November 2023, Alderan’s project portfolio consists of seven fully owned lithium projects in Minas Gerais state, Brazil plus one copper and two gold exploration projects in Utah, USA which are held either directly or through option agreements via Alderan’s USA subsidiary, Volantis Resources Corp.
Field inspections of the lithium projects in Brazil have successfully confirmed the presence of pegmatite, a potential host rock for lithium mineralisation, in five of the seven areas. The company will embark on an exploration programme in 2024 to identify lithium prospects within the project areas. The prospects will then be rapidly evaluated with follow up soil and rock sampling and drilling.
The Frisco project in the USA was explored by Kennecott Exploration (‘KEX’; a Rio Tinto group company) for large scale porphyry copper deposits under an option agreement with Alderan from late 2019 until mid-2023. KEX’s drilling at the Cactus Breccia prospect intersected 41m grading 1.9% Cu, 0.6g/t Au (SAWM0001). This hole is consistent with historical holes with high grade copper intersections including 4.9m @ 6.72% Cu within 43.6m @ 1.69% Cu from 207.9m downhole (DDH8; no Au assays) and 12.2m @ 3.31% Cu within 22.9m @ 2.06% Cu from 1.5m downhole (R14; no Au assays). The mineralisation at Cactus remains open at depth and a UAV (drone) magnetic survey carried out by Rio Tinto suggests that there are a number of similar untested targets within the Frisco area.
The White Mountain prospect is interpreted to be an epithermal gold target with siliceous sinter, a chalcedony blanket, sulphur mining and elevated gold and mercury in reconnaissance rock samples all within the licence area. Alderan drilling at the Detroit gold project has confirmed oxide and primary gold mineralisation at the historical Drum gold mine and the Mizpah prospect and identified two additional untested gold in soil anomalies along a 4km strike of prospective host rocks.
Alderan’s exploration plans also include identifying, reviewing and securing new opportunities to upgrade our pipeline of projects.