Frisco

Frisco lies approximately 300km south-southwest of Salt Lake City and 20km west of Milford in Utah, USA.  Alderan’s tenements cover a total of 40km2.

There are numerous historical mines throughout the project area including the Cactus copper-gold-silver deposit, the Imperial skarn copper-zinc deposit and the Horn Silver Mine, a historical high-grade lead-zinc-silver producer.  The area is prospective for skarn and carbonate replacement copper, lead, zinc and precious metal deposits plus breccia hosted copper-gold-silver deposits.  In addition, there is potential for porphyry style mineralisation as indicated by intersections containing copper and molybdenum in deep drillholes.

Frisco was Alderan’s priority project at the time of its listing on the Australian stock exchange in 2017. Since November 2019 it has been the subject of a farm-in agreement with Kennecott Exploration Company (KEX), a Rio Tinto group company.  The farm-in consists of a series of options to earn a 70% interest in the project through expenditure of US$30 million over 10 years with Stage 1 expenditure of US$6.0 million to earn a 55% interest.

Frisco tenement and simplified geology.

 

Exploration at Frisco has centred in and around the Cactus intrusive stockwork which is a multiphase intrusive consisting of granites, granodiorites and monzonites which are cut by later dykes and northwest-southeast trending faults. Past exploration by Alderan and the most recent nine hole drilling programme by KEX focused in the Cactus Canyon area in the Cactus Breccia Zone and the Accrington Zone in the south.

Alderan drilled a total of 16 holes in Cactus Breccia Zone and KEX drilled a further 5 holes with better intersections from both programmes grading over 1% copper and 0.5 g/t gold.  The KEX drilling intersected 74m grading 1.1% copper, 0.35g/t gold from 219m downhole which included 41m grading 1.9% copper and 0.62g/t gold in hole SAWM0001.

KEX drilling intersected mineralisation at Accrington also with the only hole into the prospect, SAWM0004, intersecting 34m grading 0.99% copper and 0.14 g/t gold from 153m downhole.

Kennecott’s next step at Frisco is to complete a drone magnetic survey ahead of data integration and a decision on further drilling.

Area of proposed KEX drone magnetic survey and Kennecott drillholes at Frisco.

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